I've seen on LU a lot of fallacies about the Sharks "shortfalls", as in, there isn't one.
I usually bypass the posts I see but today I feel like posting.
Besides the Sharks acquisitions, they also have 19M in the bank. I saw one ignoramus in the NRL forum say that they dont have that because they have to pay for the new leagues club fit out. What a load of horse shit.
The Sharks are not using their own money initially to pay for it, the bank is. They have a 12M loan approved to do the works. The club itself will pay the bank off once its up and running.
When Penrith were on their knees Gould went to to James Packer to help set them up, and it worked out sensationally for them.
Packer was their bank.
For a little bit more insight. I come from construction and I was the Foreman/Supervisor forall the pre works around Shark Park before the last Grandstand went in. I also was involved with some of the nearby constructions that went on after and the Sharks were part of it.
I changed careers and am now I'm in Clubland in that particular area. This means I can see every clubs profits, losses etc.
There is more than one club within 20 mins of Sharks that earn very decent profits, im talking 30M every 6 months. There are also clubs that are dying.
This is all to do with Pokies and Gambling.
The ones succeeding? All of them are newish and cater for the 20-30 something disposable income crowd.
The ones dying? They can't afford to update their premises for the younguns to spend, they are still raping the pensioners.
The Sharks are going to have a brand newly done up club looking over water, with plenty of machines.
They'll pay off that loan easily, and invest their 19M and further money in other ventures.
I'm not having a go here, just showing some clarity.
Just to Edit on this: our Chairman, Steve Mace, is a self made multi millionaire through many diversities, our CEO, Dino, used to run Star City. They know their shyte, and in regards to Dino, he's part of the Mediterranean Mafia of the NRL. PVL, Uncle Nick, George Peponis, and Dino. They aren't going to let one their own fall.
Obviously I'm having a little fun with this last part, but there is some proven truth to it.