Whats happening in Bronco Land?

[Willow]

Weird figures are being bandied about... Perhaps someone can clarify a few things for me.
Does John Singleton own 20% of the Broncos?
Does Murdoch own 60% of the Broncos?
Is Singo upset that Broncos shares are dropping?
Who really owns Brisbane Rugby League?
Is there a conflict of interests going on here?
These are just questions.
Are there any contributors to this forum who can set me straight...?

 

[imported_footy2k]

As far as I know, these are the people that'have shares' in the Broncos: David Kingston, John Singleton, Morgan Parker,and News Ltd. I wouldn't say that they 'own' the Broncos, just because they have shares in it. Does the manager of a shop 'own' it, or do the people who shop there own it?
Without his customers, the manager wouldn't have a shop, and it's the same with the Broncos in this case, its the people who make it.

 

[Willow]

Apparently Singo is getting a bit annoyed because the Broncos seem to losing bucket loads of money... No one's saying it but a few questions are being asked as to where the baker is sending the bread.

 

[imported_bronco]

If memory serves me correctly Singleton has a 12% share but please don't hold me to that figure.
There is disagreement going on and the shareholders aren't happy about how they didn't see a cent of last years 15mil turnover for the Broncos.

Cheers
bronco

 

[imported_footy2k]

whatsdoing in dragon land willow

 

[Willow]

foot2K: Interesting analogy about the shop and it's customers...I like it.
Except once upon a time it was the members (ie supporters) who owned a Rugby League Club.
IMO, shareholders are not customers, they are shareholders.
Lets not mix the two up.
By definition, they are not supporters of Rugby League... instead they seek to profit financially from RL. I'm not being directly critical ofany individual for doing this but in reality the major shareholders are just spongers who are looking for an opportunity to make some bucks.
The shop can survive very efficiently without shareholders but it can't work without the ticket buying customers.

 

[Willow]

Dragon Land looks OK mate. I don't see any shareholders yelling blue murder...

 

[Eldorado]

How can a shop survive without shareholders. Shareholder is only a fancy term for owner. Bad analogy there Willow

The Broncos are a legal company so the shareholders own it and vote for directors to run it. The people, as Footy2K refers to them, have no rights and no say whatever in the running of the company, they are just therevenue base and are replaceable.

News has the controlling interest in the Broncos so they have effective control of the board and can do as they please. I thought Singo had 20% and Kingston 12% but could be wrong. Either way News has the majority share and are running it their way which has got all the other shareholders mightily pissed off.

 

[imported_bronco]

Elderado, i think you've got it right, i got the percentages mixed up.

Cheers
bronco

 

[imported_footy2k]

yeah sorry willow, my example wasn't correct.
Similes....
What I meant was The Owner of shopis like the Shareholders in the Broncos
The customers are like the players, fans, coach of the Broncos.

Without the "customers" , the shareholders wouldn't put their money into anything
cheers

 

[Willow]

Shareholders ... customers.... I'm just stirring a pot there mate. The truth is I was told that there is some financial difficulties in the Broncos and John Singleton has gone to the press about it.
I couldn't think of a better place to find out the facts other than here. I wouldn't expect Broncos management to tell me.
Thus far, the forum is holding true.

I have to say that News Ltd having 60% of the shareholdings in the Broncos makes me a little uncomfortable. Possible conflict of interests there.

 

[blue&green]

I read a while back that one of Singleton's companies had upped its % of the Bronks from 12 to 16. It may well be 20% now. News isn't <u>directly</u> the major shareholder - it owns its slice through a company called (something like) Pacific Entertainment. BTW, the &quot;conflict of interest&quot; you referred to: care to elaborate?

 

[Willow]

Blue &amp; Green.
I was hoping that someone else could elaborate. I don't pretend to know all the goings on in the Broncos and I certainly don't know about all their business interests apart from I hear in the media.
If News Ltd has a direct or indirect stake in the Broncos is beside the point. The crux of the issue is who is controlling those shares? And more importantly, what sort of leverage does a major stake holder have in the running of the franchise.
IMO, a conflict of interests can filter through in a number of different ways. For example, sponsorships and the subsequent distribution of revenue.
I not promoting conspiracy theories here and I don't mean to sound cynical. I'm just saying that business is business and quite often long term issues are overlooked for the sake of making a few quick bucks.
Before News Ltd came onto the scene, these sort of things were not major issues worth worrying about.

 

[Willow]

BTW Blue &amp; Green, I see that's your first post. ... sorry I didn't notice it right away.
Welcome to the forum...