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Matchball, the loan from the NRL has to be repaid. The 2 years I imagine is the time estimated before profits are realised.
To me, immediate benefits include
employment during and after construction
an increase in new units in a fashionable area close to the city
better retail facilities Coles, Woolworths and other stores may be interested
Balmain club back in business
Rental income and club profits
From what I've read, Balmain Club doesn't own anything at all at the site of the Rozelle development, developers own that. Balmain have nothing but a 15 year lease on the building that they will use which they have to pay rent for, so as I understand, the only money they get will be club takings, less site rent.
I will admit, that I am only going off limited information and I would be more than happy to be corrected and learn more.
My concern is that, based on the above, if it is true, that the club will need to be built and operating, and have made enough to:
A: Repay the ARLC
B: Have enough to fund Balmain's share of the merger
within 2 years.
Trust me, I want to be happy, and I do believe that the boardroom restructuring is absolutely brilliant.
But I can't help but think that Balmain now faces its most epic of challenges to satisfy this agreement.
I sure as hell hope they do get some money from retail and residential properties in the development, because it will definitely make Balmain's club close to the most profitable ones in Australia.
For me though, everything hinges on the development, and it has to be up and running before the 2 years expires, and based on its progress thus far, I'm sorry, but I'm not filled with hope, which I'm sure you can understand.