Delmege to sell his stake in Sea Eagles

[davohan123]

Delmege to sell his stake in Sea Eagles
Finance16 Nov 10 @ 06:36pm by Kelly Robinson Manly daily


THE man hailed as the Manly Sea Eagles’ saviour, Max Delmege, is on the verge of selling the company that owns his share in the club.

The northern beaches property developer yesterday confirmed he was in ``serious negotiations’’ to sell his company Surfside to former major sponsor Quantum.

Surfside owns a 37 per cent share of the Sea Eagles.

However, Mr Delmege said he would remain a shareholder of the company and said he would always retain an interest in the club.

Read more when the article is published

 

[Phantar]

Not totally unexpected. Looks like he has his big development site in North Sydney (cnr of Mount & Walker Streets), with state govt approval for a 38-storey office building, on the market as well.
He doesnt have the in-house expertise to manage such a large project so it makes sense to sell it with significant growth potential, courtesy of the aforemntioned approval.

 

[Rusty]

So Quantum, don't want to be a sponsor, but do want to be an owner, odd. I wonder who is behind Quantum and what they want with the Sea Eagles.

 

[The Eagle]

Isnt Quantum going Under?

 

[Chip and Chase]

However, Mr Delmege said he would remain a shareholder of the company and said he would always retain an interest in the club.

``I’ve decided that Manly needs another strong financial partner,’’ he said. ``I was approached by our (former) major sponsor Quantum about whether I would be interested in letting them become shareholders. I agreed to sell them my entity that held the shares in Manly but I will still own a shareholding of that entity.’‘

Asked what power he would now hold at the club, Mr Delmege said: ``I don’t need the power of the board room.’‘

``Based on their financial strength, Manly can become stronger. We’re probably in the best position we’ve ever been in.’‘

Mr Delmege said despite the proposed sale, he could never completely walk away from the Sea Eagles.

``I would still retain an interest in the Sea Eagles,’’ he said. ``I helped them out in 2002 and I’ve been there from then to two grand finals. We had the best scoreline in history at 40-0.

Nobody else has done that. I could never completely disassociate myself from the club. I’ve got some fantastic memories with the Eagles. Do I think Manly needs another strong entity? Yes.’‘

Mr Delmege said the club needed someone like himself ... somebody who was determined to lead the club to great things’‘.

Mr Delmege has long been hailed as the club’s saviour.

In 2002, he helped pull it back from the brink of financial collapse and has since poured an estimated $15 million into the Eagles. The club was privatised at the start of 2004, when the Penn family secured an equal majority share with Mr Delmege.

However, the co-owners have been at loggerheads for the past few seasons with a very public war of words over a number of issues.

 

[Mark from Brisbane]

Well that will at least be the end of the boardroom drama's.

Quantum was a Grant Mayer / Penn sponsor.....so at least they'll be talking.

I imagine Delmege won't sell to Penn so this is a way out, and I'd be surprised that within a few years either Penn buys their share or somehow the FC buys the Quantum share.

Despite all that is said on here Max deserves our sincere thanks for pulling us out of the boghole in 2002, without him we probably would be supporting another club or like me no club. If the Eagles folded that would be the end for me, after 47 years I couldn't bring myself to suppoort any other club.....so Max, my hat's off to you old fella you did us proud!!

 

[The Wheel]

Totally agree Mark, despite what happened in last year or two Max basically saved the ckub and was a drving force in getting us to the 2008 premiership - thanks Max!

As for Quantum myabe that is why they let go of the sponsorship so they could take up an owenership stake?

 

[ManlyBacker]

I feel for Max. His troubles at home with wife Narelle undergoing a lung transplant and being in an induced coma, the rearranging of finances on his empire, and now to have to part with his large holding in the club he loves and saved. Best wishes Max and thanks for what you have done for Manly.

 

[tookey]

Today's telegraph explains why we have lost the players we did and why we signed no first graders for this year:

In the end, it reached a stage where Manly were financially stagnant.

One family was reluctant to inject money unless the rival family outlaid the same amount.

The Penn faction claimed Delmege's periodic payments were tardy.

It was probably time for Delmege to leave. The money can now start to flow again.

Delmege will forever be a saviour at Brookvale. Without Max Delmege, there wouldn't be a Manly Sea Eagles. They would sit alongside Newtown and Norths.

But Manly can now move forward. And the only way for that to happen was if one of their main shareholders moved on. Delmege has done that.

With the Penns and Quantum now in charge, the money can be released and the club can start to target marquee players.

Hasler has privately become frustrated at the lack of money as he watched some of his big names and key juniors walk away.

Those days are over.

 

[kurri eagle]

Isnt Quantum going Under?

no they netted 8.5 ,million last financial year

 

[jbb/james]

on ya max, good luck with whatever you do, thanks for saving manly. While it may end the off field dramas, all business's have dramas, all clubs have dramas. Its inevitable and at times healthy. Its how these dramas made the press which is the problem

 

[Berkeley_Eagle]

thanks Max & good luck

 

[Mybludog]

Should be some sort of memorial at Brookie for Max..

The Max Delmege Stand has a nice ring to it....wonder how long it would take to get built though.......

 

[Ryan]

Today's telegraph explains why we have lost the players we did and why we signed no first graders for this year:

In the end, it reached a stage where Manly were financially stagnant.

One family was reluctant to inject money unless the rival family outlaid the same amount.

The Penn faction claimed Delmege's periodic payments were tardy.

It was probably time for Delmege to leave. The money can now start to flow again.

Delmege will forever be a saviour at Brookvale. Without Max Delmege, there wouldn't be a Manly Sea Eagles. They would sit alongside Newtown and Norths.

But Manly can now move forward. And the only way for that to happen was if one of their main shareholders moved on. Delmege has done that.

With the Penns and Quantum now in charge, the money can be released and the club can start to target marquee players.

Hasler has privately become frustrated at the lack of money as he watched some of his big names and key juniors walk away.

Those days are over.

Very interesting.

 

[paski_10]

Now that Delmege is going and Quantum is moving in as co-owner I assume they will take up the option to be major sponsor in 2011. I hope that isn't the case though. We should still go out and try to look for a major sponsor from outside of the club. I'm sick of seeing the company names of club owners spread across the jersey... to me its kind of like free advertising... the club isn't bringing money from outside of the club... We got to try and bring independent sponsorhip money into the club. Our last really decent sponsor was Pepsi.

 

[WAMF]

Thanks for having the balls Max.
I hope you enjoy the extra time with your family.

 

[Fluffy]

There is one major Aussie company in the process of selling its sugar side (about half) and once complete will be cashed up. The remaining business units are mostly in building materials and run their own brand names so getting them out in the medie more certainly would help.

 

[WAMF]

There is one major Aussie company in the process of selling its sugar side (about half) and once complete will be cashed up. The remaining business units are mostly in building materials and run their own brand names so getting them out in the medie more certainly would help.

CSR is under a heap of strain. Plus the upcoming compensation claims ect ect. We may as well try to have Hardy's as major sponsor.

 

[Chip and Chase]

But they might have some cheap insulation products they want to get rid of.

 

[Ryan]

There is one major Aussie company in the process of selling its sugar side (about half) and once complete will be cashed up. The remaining business units are mostly in building materials and run their own brand names so getting them out in the medie more certainly would help.

Having them as a sponsor would be sweet !