Warriors sale confirmed.

Discussion in 'New Zealand Warriors and NZRL' started by Rich102, Sep 24, 2019.

  1. Rich102

    Rich102 Moderator Staff Member

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    The Warriors' ownership has changed hands, for the second time in less than 18 months.

    Though the final paperwork is still to be completed, Autex Industries will become the sole owner of the NRL club, with the deal set to be confirmed at the Warriors' end-of-season awards on Tuesday evening.

    After several weeks of negotiations, the Avondale-based company have agreed terms with the Carlaw Heritage Trust to buy their 67 per cent stake in the Warriors.

    Autex managing director Rob Croot will remain as Warriors' chairman, while CEO Mark Robinson will be the senior director on the club's board.

    Once settlement is completed, Croot and Robinson will appoint a new board.

    CHT and Autex purchased the club off Eric Watson for $16 million in April 2018, with Autex taking a 33 per cent share of the joint venture arrangement.

    It's understood that CHT have sold their share for significantly less than they paid for it, which will result in a multi-million dollar loss for the Trust.

    But the CHT, which was set up with the proceeds of the development of Carlaw Park, have ultimately decided they couldn't afford to invest any more Trust money in an NRL club, with the Warriors expected to need significant funding over the next few years.

    The trust also received a strong mandate from the Auckland clubs, who are their sole beneficiary.

    At a special general meeting last Friday night, 20 of the 30 clubs supported a motion to sell the club, while only six voted against. There were four abstentions.

    There were signs of unrest in the boardroom last December, when Cameron McGregor stepped down as chairman, replaced by Croot.


    At the time McGregor implied it might just be a temporary measure, but it was clear evidence of friction between McGregor and the Autex representatives over the direction of the club, where and how money should be invested and the relationship with the local game.

    The board became more fractured as this year progressed.

    It became obvious that the joint venture was unlikely to function as it was over the long term.

    In early August the ARL and the CHT attended a meeting convened by Autex to discuss a proposed buyout.

    Later that month the CHT board passed a resolution to support a sale, though it also included provisions for a counter offer.

    The ARL endorsed this resolution and a subsequent ARL board meeting in September solidified their position.

    McGregor continued to argue, both privately and publicly, that a sale was not in the best interests of the CHT, ARL or the local game, pushing instead that the CHT should either maintain their shareholding or seek to buy out the Autex stake.

    But that always seemed a remote prospect, and McGregor's position was weakened when he was removed from the CHT by the ARL on September 6th.

    The long-time ARL chairman had a final chance to put his case last Friday, and outlined a vision that included a range of payments and funding to local clubs, partly based on axing the Warriors reserve grade team.

    But that proposal failed to find favour with the clubs, leaving the sale to go through unimpeded.

    https://www.nzherald.co.nz/sport/news/article.cfm?c_id=4&objectid=12270614
     
  2. Big Marn

    Big Marn Juniors

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    guess we will find out soon enough whether autex are pro kearney/george.
     
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  3. One Warrior

    One Warrior Juniors

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    Great, hopefully we now have an owner who is prepared to invest money in the club, rather than strip it away.
     
  4. Mr Angry

    Mr Angry Not a Referee

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    Fingers crossed.

    I see light from this long dark tunnel.
     
  5. LeagueNut

    LeagueNut First Grade

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    https://www.stuff.co.nz/sport/leagu...tex-industries-become-sole-owners-of-warriors

    "In a statement confirming the sale in a statement, Robinson said there would be be no immediate leadership changes at the Warriors. Croot will remain as chairman with club CEO Cameron George and coach Stephen Kearney to continue in their respective roles."

    And...

    "Meanwhile, it was also announced that high performance manager Alex Corvo was leaving after two seasons at the club."
     
  6. ozbash

    ozbash Accredited Media Releases

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    He was useless...
     
  7. JJ

    JJ Referee

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    Dunno, but he certainly wasn’t the most useless... apparently they’re all keeping their roles
     
  8. JJ

    JJ Referee

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    Just when there’s a flicker of hope, they break the cardinal rule and go full genius

    Even if it’s just a holding pattern it’s disappointing, how can it not be clear that we needs a competent coach in place ASAP
     
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  9. Rich102

    Rich102 Moderator Staff Member

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    I recently contacted the Warriors to cancel my membership for 2020 giving them the reasons.
    Monday I received this reply.

    "Thank you for getting in touch.

    This is just to confirm we have opted you out of the Auto Renewal process.

    While the season didn’t end up as we intended, continuity within the coaching staff and playing group has been something that has been lacking since 2011 and we feel Steven Kearney is right man for the job and we have absolute faith in him to get us back into finals footy as he did for us last year.


    We appreciate your support this year in being a member of the Vodafone Warriors."

    This kind of wishful thinking is not going to get the club anywhere.
     
  10. Beavers Headgear

    Beavers Headgear First Grade

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    Wow, more details are needed on Corvo leaving, he signed a 3 year deal and is going early and there was a lot of hype around him last year

    Who the replacement will be will be very interesting too
     
  11. SpaceMonkey

    SpaceMonkey Referee

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    TBH while I thought he’d done really well with the players at the start of last season they seemed to burn out part way through that year and then this year looked overly bulky in the early season.

    On the original subject, I think the Autex buyout is a good thing. Too much decision making paralysis with the multiple owners.
     
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  12. Mr Angry

    Mr Angry Not a Referee

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    You cannot come in weilding the axe. Recovery from that takes much time.

    One must be pragmatic, set the bar, watch it fall, make a business decision, people are far more accepting. Actual employees, not fans.

    Learning year for the new owners.

    #8rounds
     
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  13. Beavers Headgear

    Beavers Headgear First Grade

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    Shane Flanagan is now available as an assistant, should be on the phone begging him to come over at any price

    His sides were always scrappers and wouldn’t give in
     
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  14. TheDMC

    TheDMC Bench

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    Yep we need him but won’t get him as we cannot pay the overs required to get him in nZ. he can only receive assistant coach salary and NRL will monitor closely
     
  15. Philip_Smith007

    Philip_Smith007 Coach

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    Most understand we shouldn't sack him to put in an amateur coach in, but a proven coach is a different story.

    I suspect the response you got will be saved in a google doc to cut and paste to others voicings their concerns and not renewing.
     
  16. Philip_Smith007

    Philip_Smith007 Coach

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    Sorry but its another stupid move by the NRL, yeah sure he is the assistant coach. Serve your ban.
     
  17. Philip_Smith007

    Philip_Smith007 Coach

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    He was meant to fix our fitness issues as one of if not the top trainer.
    Reason he failed?
     
  18. Rich102

    Rich102 Moderator Staff Member

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    Lack of effort from the squad?
     
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  19. Big Marn

    Big Marn Juniors

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    you do wonder.

    the first season everyone was lean and played 80mins but by the end of the season, the lack of bulk meant we got a bit beaten up and had nothing for the playoffs. So did they go too much the other way? IP looked far better when leaner last year. There was a lot more leg drive getting yards after contact. Didnt see any of that this year after he bulked up.
     
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  20. Penrose Warrior

    Penrose Warrior First Grade

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    This continuity stuff is all shit. The past is irrelevant, mostly. Regardless of whether we hired and fired across the last seven years of the club, if there is someone (or some people) at the helm who are completely inept and not up to improving our results to the point we are premiership contenders, or even hopefuls, then we need to continue our search. We can't continue to back the wrong horse on the basis of continuity.

    Sounds like we're shooting for 8th again. Goodie.
     
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