I'll take a shot-
2010 aside, there's (somehow) too much and not enough pressure on the club at the same time. By this I mean that there's a "jobs for the boys" mentality that's largely been perpetuated by Doust and it's the reason Mary still has a coaching job as I type these words. There's a stagnation at board level and a lack of accountability, a hangover from 2010 that lasted much longer than it should've and we've seen the results of that the last 2 seasons (at a minimum). This "jobs for the boys" culture also exists at the Raiders FTR.
The other factor is that there's the pressure of history looming over the club- this comes from the media and the fans. The Dragons have a long, proud history and there's a certain level of expectation that comes with that as current players have greats of previous decades who they're compared with. Then there's the "chokers" tag- that has an affect on the team in pressure games, to try and prove the critics wrong. All it can take is a dropped ball in a crucial set, a try to the opposition and the players start to think "Here we go again". Bennett was great at the club because he came from a culture of facing pressure situations and winning. Getting a young Nathan Brown, Price and Mary to coach a team who command such media attention and such high expectations from their large fanbase was a dumb decision- up there with giving Henjack the Broncos job after Bennett left IMO.
Then there's the fact Mary is clearly a shit coach...
ST GEORGE Leagues Club is set to pay out the $6 million debt the Dragons owe the NRL which could pave the way for St George to eventually take 100 per cent control of the joint-venture.
The latest development is another twist in the ongoing discussions to sell 50 per cent of the St George Illawarra Dragons.
St George Illawarra are still almost $7 million in debt — with $6 million needed to be repaid to the NRL and the $700,000 remainder to a private benefactor.
Despite WIN Corporation publicly distancing themselves from purchasing the club in April, it is understood protracted negotiations are still happening behind the scenes.
There is at least one other party in deep discussions about purchasing the Steelers’ share of the joint venture.
There is no suggestion Illawarra will be removed from the NRL club’s name.
But St George Leagues Club’s involvement sets up a whole new dynamic.
The move would essentially remove the NRL from discussions about ownership and leave the Dragons’ destiny in their own hands. Because of the debt the Dragons owe the NRL they are at the governing body’s mercy when it comes to finding a suitable partner.
While St George Leagues Club has no intentions of controlling the franchise long-term, they could potentially have significant ownership of the club by the end of this year.
Unless there is a sell-off the Steelers will almost certainly be unable to contribute the repayments of the debt by October. Their stake of the club would then be handed over to St George — giving the Kogarah-based club complete control like they had before the 1999 merger.
If the Steelers can’t keep up their repayments their shares will be drip-fed over time to St George, who will then assume full ownership and control of the joint-venture.
It is understood the proposal whereby St George Leagues Club assumes the debt carried by St George Illawarra Dragons to the NRL was put to the Steelers board this week.
Should the move go ahead and the Steelers fail to find a suitor, St George Leagues Club would assume complete control of the joint venture. They then may opt to begin their own discussions about selling a stake in the club, or keep control of it.
St George have no control regarding the sale of the Steelers but do have a say in any potential joint-venture partner.
Media mogul Bruce Gordon distanced himself from purchasing the club in April but the two parties are back at the negotiating table. His son Andrew had toyed with the idea of purchasing the club outright, but it is likely any deal between the Gordons and the Dragons will be done via the WIN Corporation.
WIN was given a seat on the Dragons board after paying about $9 million to allow the Illawarra Steelers Leagues Club to pay back its debts to St George Leagues Club. The Dragons owe the NRL less than $6 million after making a $600,000 repayment to the governing body last October. Another repayment is due in three months.
Outgoing chief executive Peter Doust’s final task before leaving at the end of the NRL season is to close out the deal.
Meanwhile, applications to replace Doust have closed with interviews expected this month. It is understood a number of internal candidates have applied for the role, including Doust’s understudy Michael McDonald.
WHAT IT MEANS
— St George Leagues Club assumes the debt carried by St George Illawarra Dragons to the NRL.
— The respective St George Dragons and Illawarra Steelers clubs must re-pay the debut to St George Leagues Club.
— If the cash strapped Steelers are unable to make the repayments, their shares will be transferred to St George Leagues Club, potentially giving the St George side of the joint-venture complete control.
— The club is still hopeful of selling the Steelers share to another party including WIN.
HISTORY
— St George Dragons and Illawarra Steelers formed in 1998 before playing their first season the following year.
— They have split their home games in Sydney and Wollongong while training has been based in Wollongong for about a decade.
— WIN was given a seat on the Dragons board after paying about $9 million to allow the Illawarra Steelers Leagues Club to pay back its debts to St George Leagues Club. WIN secured a 20 per cent share of the Steelers Club and assets as a result.
— Dragons loaned — and are in the midst of repaying — more than $6 million loan from the NRL plus $700,000.
— Currently the Dragons board consists of four representatives from St George, three from Illawarra and WIN representative Andrew Gordon.
Link is a paywall:
https://myaccount.news.com.au/sites...69aa0f63bee384450bc44d158b3&memtype=anonymous
If there is unrest,this ^ must be the issue at hand.
