Win Buys stake in St George Illawarra

[Carlton]

Neither do I. I wake up every morning trying to further break down puzzles and mysteries to help me understand my true identity, not knowing if each day is bringing me closer to the truth or further into obscurity.


The vote would have been pretty one sided.

A) be indebted to the NRL and potentially face more ‘right game right venue’ strategies to raise cash

B) Keep our home grounds and jersey, reduce the Illawarra influence on the club, become debt free and have a St George man run the club

Sounds good but is just smoke and mirrors. The supporters have no idea what the options were, they have no idea what this deal entails.

How has the Illawarra influence been reduced? and Brian Johnston has been a director and chairman for years, if he was such a strong St George man why have we had to put up with all the nonsense to date?

 

[getsmarty]

WIN Corporation agrees deal to buy stake in St George Illawarra Dragons

• Dragon's Den
  
  
  
  Faithful: St George-based Dragons fans can expect games to continue to be played at Jubilee Oval, Kogarah despite the deal with WIN Corporation. Picture: Chris Lane
• 
  
• The name St George, the famous red V and games at Kogarah are expected to be protected after WIN Corporation finally struck a deal to partially privatise the St George Illawarra Dragons.
  
  It is believed an official announcement could come as early as this week to confirm the deal just months after the television network walked away from negotiations to buy a stake in the club.
  
  Fairfax Media have reported the Dragons’ multimillion-dollar loan sourced from the NRL will be repaid and their home game allocation, with matches at Kogarah and Wollongong, will remain largely intact.
  
  The move will end years of speculation about the future of the Dragons, who will now be able to compete financially with rival NRL clubs.
  
  WIN have taken the Steelers’ 50 per cent share in the Dragons, according to a News Corp report, with former chief executive Brian Johnston to return to the role as Peter Doust’s replacement.
  
  Doust, the NRL’s longest-serving CEO, has been in charge of the Dragons for 18 years but will retire at the end of the season.
  
  Andrew Gordon, son of WIN’s multi-millionaire owner Bruce Gordon, has been appointed chairman according to the report while coach Paul McGregor is understood to enjoy support from the new Dragons’ ownership group.
  
  On the field, the Dragons will play in just their second NRL finals series in the last seven years next month.
  
  With two winnable regular season matches remaining, St George Illawarra are expected to hang on to a top four finish.
  
  The Dragons are fourth on for and against, just in front of Penrith and local rivals Cronulla.
  
  After a blockbuster clash with local rivals Canterbury at Jubilee Oval, Kogarah on Sunday, the Dragons head to Newcastle to take on the Knights in the final round of the season on September 1.
  
  St George Illawarra snapped a three-game losing streak on Saturday night, with the undermanned Dragons scoring a vital 20-10 victory over the Wests Tigers at Leichhardt Oval to see them take advantage of the Panthers’ slip up against the Knights.

https://www.theleader.com.au/story/5595914/win-agrees-deal-to-buy-stake-in-dragons/?cs=3833

 

[Bests Golden Boots]

I’ll just throw this into the mix too.
Bruce Gordon lives in Bermuda.
He recently said when the government changed the media ownership laws he would entertain selling WIN television only for offers above $750 million.
Seeing as the national television network Ten was just sold for $120 million, old Bruce may live in Bermuda, but he certainly doesn’t live on planet earth.

$6million is a good deal for a plaything for his son.

I’ve been a Dragons supporter for 40 years, that makes me a natural pessimist.

 

[muzby]

The supporters have no idea what the options were, they have no idea what this deal entails.

Correct. The supporters, including everyone on here, don’t know what the deal entails.

But yet the default option on here is that it’s a terrible deal.

How has the Illawarra influence been reduced?

Steelers down to one board member.

Brian Johnston has been a director and chairman for years, if he was such a strong St George man why have we had to put up with all the nonsense to date?

By ‘nonsense’ I assume you’d include the drop in St George Leagues club funding being the key driver of our financial strife?

And 2 of the 3 rookie coaches being St George boys?


We’ve been a JV now for 20 seasons..

That’s longer than the Steelers were even around, and for 25% of the time the dragons were stand alone.

The factional stuff is more in the minds of legacy supporters than in reality.

This new deal is great news for the club.

 

[Gareth67]

I’ll just throw this into the mix too.
Bruce Gordon lives in Bermuda.
He recently said when the government changed the media ownership laws he would entertain selling WIN television only for offers above $750 million.
Seeing as the national television network Ten was just sold for $120 million, old Bruce may live in Bermuda, but he certainly doesn’t live on planet earth.

$6million is a good deal for a plaything for his son.

I’ve been a Dragons supporter for 40 years, that makes me a natural pessimist.

Unfortunately I do not recall just what it was , ( perhaps someone has more information on this ? ) but WIN have recently been included in a broadcasting rights deal along with a couple of the Sydney networks .

It was announced a couple of months back and Bruce Gordon had a smile as wide as Sydney Heads , the man was most pleased . On a side note I wonder if there will be free drinks at NRL headquarters after the $6million dollar cheque was handed to them last week ?

 

[jak]

Correct. The supporters, including everyone on here, don’t know what the deal entails.

But yet the default option on here is that it’s a terrible deal.


Steelers down to one board member.



By ‘nonsense’ I assume you’d include the drop in St George Leagues club funding being the key driver of our financial strife?

And 2 of the 3 rookie coaches being St George boys?


We’ve been a JV now for 20 seasons..

That’s longer than the Steelers were even around, and for 25% of the time the dragons were stand alone.

The factional stuff is more in the minds of legacy supporters than in reality.

This new deal is great news for the club.

well said

 

[Bests Golden Boots]

Unfortunately I do not recall just what it was , ( perhaps someone has more information on this ? ) but WIN have recently been included in a broadcasting rights deal along with a couple of the Sydney networks .

It was announced a couple of months back and Bruce Gordon had a smile as wide as Sydney Heads , the man was most pleased . On a side note I wonder if there will be free drinks at NRL headquarters after the $6million dollar cheque was handed to them last week ?

Wait! There’s someone at NRL headquarters?

 

[possm]

Our poor farmers need all the help they can get...........

All who are against the building of dams should hold their head in shame.

I for one would like to go a step further and promote the idea of building d sal plants on the eastern coastline and pipe water through the Great Dividing Range to strategically positioned dams, streams and rivers.

 

[Old Kogarah Boy 1]

All who are against the building of dams should hold their head in shame.

I for one would like to go a step further and promote the idea of building d sal plants on the eastern coastline and pipe water through the Great Dividing Range to strategically positioned dams, streams and rivers.

Precisely...... why they haven’t built a pipeline to date is plain dumb.
They could appoint an overall project manager/ building company with an emphasis on the unemployed and local indigenous being heavily involved, along with the local communities as the project finds its way around the countryside.

 

[Gareth67]

Well you don’t realize how good it feels to know that there are other people out there who have thought/said the exact same thing as I have - so many times now . The pipeline would not only pay for itself , but would create new towns and even small cities once the water began to flow .

You would have the basic infrastructure such as rail which would bring everything that would be required to the place as the line progressed further west . Employment on a grand scale , with the subsequent maintainence towns , irrigation for new fields, a virtual bonanza for Australia if only the Government was not so blind .

Stop spending the money on new sport stadiums and and use it to kick start a pipeline that would turn many dust bowls into thriving communities. If only . . .

 

[Old Kogarah Boy 1]

Well you don’t realize how good it feels to know that there are other people out there who have thought/said the exact same thing as I have - so many times now . The pipeline would not only pay for itself , but would create new towns and even small cities once the water began to flow .

You would have the basic infrastructure such as rail which would bring everything that would be required to the place as the line progressed further west . Employment on a grand scale , with the subsequent maintainence towns , irrigation for new fields, a virtual bonanza for Australia if only the Government was not so blind .

Stop spending the money on new sport stadiums and and use it to kick start a pipeline that would turn many dust bowls into thriving communities. If only . . .

GA67,

Normally, big projects like this don’t get the votes but l reckon this would.
It would solve many current issues and give the ‘country areas’ a new lease of life, hence more people moving o country towns.

The domino effect would be huge.

 

[hewi]

Start off by sending all the water from sewage that’s goes into the ocean off Sydney and pipe that over the mountains. Win win.

 

[Old Kogarah Boy 1]

Start off by sending all the water from sewage that’s goes into the ocean off Sydney and pipe that over the mountains. Win win.

That’s got a whiff of Bondi about it!

I guess you need to run it thru both sewage & Desal works and then west.

 

[Saint_JimmyG]

A simple question.

If the Illawarra Steelers’ side of the club’s daily operational business charter has been reduced to a non voting one, is the club still technically a joint venture, or is it now the ‘old’ St. George in combination with a new partner?

 

[muzby]

A simple question.

If the Illawarra Steelers’ side of the club’s daily operational business charter has been reduced to a non voting one, is the club still technically a joint venture, or is it now the ‘old’ St. George in combination with a new partner?

A simple answer.

No.

 

[Crush]

He is definitely showing signs of being on the ropes. Swinging for the fences and his new ‘knight in shining armour’ routine (blame me and not the players) reminds me of the ‘we made the finals in 2015’ song that he sung all 2016.

You should check out tonight's nrl 360 interview if you missed it. He talks again of making the finals in 2015 under all kinds of adversity. You'd love it. He also agrees, in a leading question/statement from Paul Kent, that Dragons fans set unreasonable expectations, more so than other clubs.
As I said, check out Benny, it'll make you squirm.
I didn't mind it personally, he seemed very confident that this year we had a big shot at being in the mix for a premiership.

 

[Saints Forever]

Stoked with the announcement from the club.

4 directors each.

No casting vote for Chairman.

No NRL Debt.

Each party to invest equally.

Fabulous result for all parties.

Looks like the St George Leagues Club got the Gordon family up to the make by offering to pay the NRL debt.

Let us hope that now that the Gordon's are part owners, they run the club as a business rather than an old boys club.

Would like to see WIN step up to the plate with serious TPA clout.

 

[redandwhite4evr]

What I would like to know is:

1) Does the Illawarra appointed board member have the right to vote at board meetings or merely act as an observer ?

2) Do St.George and WIN Corporation have an equal number of board members ?

3) If the Chairman is appointed by WIN Corporation but cannot exercise a casting vote, how does the JV resolve contentious matters such as the dismissal of a coach ?

These are all good questions but surely there has to be others- such as:-

Bruce Gordon has been playing hardball on this acquisition for years. He is notoriously secretive about his actual wealth and the state of WIN Corporation and gives the impression he knows the value of a dollar. What guarantees are there that there will be ongoing funding from WIN tipped into the joint venture indexed against inflation and at what level will this funding be?

Compared to other Sydney teams withgeographical reach, SGI currently has few 3rd party deals which means that clubs like the Roosters and the Sharks attract players and SGI doesn't. Will this situation improve under WIN?

 

[epDragon62]

Precisely...... why they haven’t built a pipeline to date is plain dumb.
They could appoint an overall project manager/ building company with an emphasis on the unemployed and local indigenous being heavily involved, along with the local communities as the project finds its way around the countryside.

Have you got any costings on this idea? Apart from the construction cost, pumping water needs lots of power...

 

[Gareth67]

Stoked with the announcement from the club.

4 directors each.

No casting vote for Chairman.

No NRL Debt.

Each party to invest equally.

Fabulous result for all parties.

Looks like the St George Leagues Club got the Gordon family up to the make by offering to pay the NRL debt.

Let us hope that now that the Gordon's are part owners, they run the club as a business rather than an old boys club.

Would like to see WIN step up to the plate with serious TPA clout.

A lot of water to flow under the bridge before everything becomes crystal clear , but I believe that is basically the way the setup is now .

The Illawarra side was not financially viable so now with have 2 parties who are , as you and muzby have said , it is no longer an old boys club , as both parties are intent on success .

Only good can come from it ( IMO ) and I would not be surprised to see other unexpected announcements to follow that will give credence to that , probably in the off season .