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nor do it, but neither of us know for sure, he might have invested his millions wisely for all we know. Besides it doesnt really matter, a club shouldn't need ongoing massive investment in this day and age. In fact that investment should be short term in order to generate sustainable revenue and eventually see the club return a profit. Clubs not leaching off LC's have done this successfully.
The free market doesn't believe there's a large amount of people supporting Sydney's lower clubs.
He's a pretty shady character by all accounts, however you're being a bit selective. In 2008 he sold a mining lease he paid $20mill for $400mill! In 2010 he sold a copper mine for $135mill after paying $65mill for it. He owns 3 mining companies and numerous subsidiaries. Last year he opened up the new JWD iron ore mine.
Why not just look at how he’s run the Perth glory into the ground
TBF without him there would be no Perth Glory in all likelihood. Aleague is the problem more so than the Glory. Look at all the clubs. Having said that he has done nothing to endear himself to football fans here and crowds of 16k in the old league's days have dropped away to 8k despite a much better venue.
What about this trend?
No shit moron, swans have had the city to themselves... coz all the VFL teams that started their comp are huddled up in melbourne... its the same thing as NRL in sydney and has with the Broncos being able to grow in brisbane, does no one see the similarities between the codes geographically
Or PNG/Cairns
AFL has the same amount of competing clubs in its metropolitan area... if you're going to quote me do it properly and in context..What about this trend?
Wests Tigers in the black for first time in club's history
The Wests Tigers have gone from posting a $4.6m loss two years ago to a $100,000 profit in 2018.amp.smh.com.au
It took the Wests Tigers 18 years to get through a season without losing more money than they made. If an interstate club had a record like this then NSWRL fans would see red and demand their expulsion.
Ironically, the only reason the Tigers made a profit in 2018 was due to an increase in sponsorship, which was tied to their handling of the Ivan Cleary situation.
And it was the Ivan Cleary drama that spectacularly led to a late flurry of support from the business sector.
It shows how important sponsorship is and why most Sydney clubs, including the Tigers, are unfit to compete in the NRL. The brand recognition of the Tigers was so poor it failed to draw enough corporate support to break even for 17 years and relied on a freak incident to draw interest. To borrow MugaB's phrase, the Sydney clubs are "taking from Peter to pay Paul" by relying on the annual grant to cover their inability to finance their day to day operations.
This part from the article sums up the stupidity of having nine RL clubs in the one metropolitan area.
Pascoe returned from a recent trip to the US where he toured different sporting organisations, and they could not believe the competition among clubs in such a small market like Sydney."The Braves were talking about their financial success and how they were driving their income, and they said they were fortunate because a couple of states around them did not have an allocated baseball team, so they aligned themselves with us," Pascoe said."When I told them we had 20 professional sporting organisations within 30 miles of Sydney, they nearly fell off their chair and asked, 'how do you compete?' It's a challenge but I've always said we wanted ot re-engineer, not rebuild this club.''
And he’s still on the commission q
It’ll be a Christchurch based team anyway
There is no potential bidders yet from christchurch come forward, only chambers who want to base the orcas in Wellington with couple of games in Christchurch.
