Rift between Manly players and officials set to widen

[WAMF]

I agree there would be others willing to buy in but let's face the truth. The Penns are a savvy business family and there is no way they pick up their bat and ball and go home.
The only way the Penns can potentially make any sort of return on the money they have so far invested, is to stick around. Not by bailing.

 

[Kiwi Eagle]

How does a crap article like that get 7 pages on here these days ?

Who cares

 

[westbec]

FACT: Back in 2004 Delmege (Surfside) was Mr Moneybags supposedly and the FC were gung-ho that with all the millions that would flow from club memberships they would buy the entire club back for the fans in 20 years.

There was never any intention or obligation for the football club to fund any operational losses.

As you said yourself, their aim was to buy back the club which meant all their funds would be going to Delmege in return for his shares, not into the Sea Eagles to cover operational losses.

 

[lsz]

You have to be kidding me that there are a line of people willing to lose money on a football club

are they the same people that throw themselves forward to sponsor a club?

 

[eagles2win]

Fact : Shower Power actually works

 

[Matabele]

I agree there would be others willing to buy in but let's face the truth. The Penns are a savvy business family and there is no way they pick up their bat and ball and go home.
The only way the Penns can potentially make any sort of return on the money they have so far invested, is to stick around. Not by bailing.

Savvy business people know when to cut their losses and stop cash bleeds. Happens all the time.

---

FACT: Back in 2004 Delmege (Surfside) was Mr Moneybags supposedly and the FC were gung-ho that with all the millions that would flow from club memberships they would buy the entire club back for the fans in 20 years.

There was never any intention or obligation for the football club to fund any operational losses.

As you said yourself, their aim was to buy back the club which meant all their funds would be going to Delmege in return for his shares, not into the Sea Eagles to cover operational losses.

And operational losses mean the planned buy-back is becoming an ever more fanciful dream. As they cannot match participate in meeting their equity share of losses, their equity share is being diluted out, and the size of the buy-back grows by the year.

So really your own statement enhances the need for a taking stock of shareholding along the lines of equity share. And by any reckoning $18.75k in two years is a paltry contribution. Maybe the FC should spend less on free sangas and mobile phones used for politicking.

 

[mozgrame]

So..........are they getting their rings??

 

[Shoe1]

How does a crap article like that get 7 pages on here these days ?

Who cares

Tomorrow's Telegraph

"Rift between Manly fans set to widen"
The popular silvertails website has become a hotbed of nastiness, innuendo and accusation... blah blah

 

[Earnie the Eagle]

OK ENOUGH IS ENOUGH!! How much to buy the whole club/team ?

 

[Brissie Kid]

This story could have been written about every club after a grand final.

The problem is the NRL not setting rules on who can get one of these rings.

Obviously media have decided there is plenty to milk from kicking the Sea Eagles can around day after day.

 

[mickqld]

Fact : Shower Power actually works

LMAO most sensible comment in this entire thread. It has more credit than the rediculous bull**** article in the dailytelecrap.

 

[bones]

Penn deserves a ring, the rest of them can f**k off (if this is true).

What's his number? I'll call him.

 

[Matabele]

Penn deserves a ring, the rest of them can f**k off (if this is true).

What's his number? I'll call him.

1300 LARGESSE

 

[OneEyedEagle]

Who cares on who gets what, I think there are bigger pressing issues at the Sea Eagles than premiership rings. What a absolute stupid story. I am glad I don’t by or read the daily telecrap.

As Cambo said in previous post, if the directors get them so should all coaching, support staff and any player that represented first grade throughout the year.

 

[Cameron]

Just ask yourself this question of the current owners who has kicked in the most cash and how much say do the penns have for that.

That's an easy one.

The Leagues Club have put in the most money since privatisation at about $5.1 million.

Surfside is next at just under $5 million.

The Penns are a distant third at about $3.1 million.

All of these figures exclude sponsorship which would only push Penn even further behind.

westbec
thats a bit cheeky that post of yours

The leagues club hasnt provided 5 mil in equity
large proportion of that is sponsorship remember at the end of the day the leagues clubs charter has been to support the footy club.

In return 10 days a year the leagues club would get a significant spike in sales during the football season.

Westbec I ask you this question

If Scott penn pulled the plug would the leagues club or Quantum have the financial resources to buy Penn Healths shares??????

 

[Eagles Nest 08]

Cronulla would dream to have that problem, who gets a Premiership ring ... !!!!!

It must be a slow News day for Dean Richie, it becoming pretty boring the dribble he is writing under the News Ltd banner these days – yawn, yawn, yawn …

End of story, lets talk more about more relevant things …. like where we should show case the NRL Premiership Trophy ! Yeah baby we are the PREMIERS !! Sounds good to me !

 

[Cameron]

Cronulla would dream to have that problem, who gets a Premiership ring ... !!!!!

It must be a slow News day for Dean Richie, it becoming pretty boring the dribble he is writing under the News Ltd banner these days – yawn, yawn, yawn …

End of story, lets talk more about more relevant things …. like where we should show case the NRL Premiership Trophy ! Yeah baby we are the PREMIERS !! Sounds good to me !

Post of the decade

hahahahah pure gold

the sharks would love that article written about them

I salute you

---

You have to be kidding me that there are a line of people willing to lose money on a football club

are they the same people that throw themselves forward to sponsor a club?

Of course they LSZ there would be 100s of people who want to jump in to such a great opportunity

what a bargin 3-5 Million Dollar gets you

28% of control on the board (2 votes)
a business that wont even break even when they are successful on field


**** yea i can hear the likes of Frank Lowy, James Parker, ted turner, donny trump and co knocking on the door to get some of that

 

[zebo26]

The story wasn't newsworthy and was just drivel! I can't believe I wasted time reading this thread - kept thinking something interesting was posted as so many pages were devoted to it! What rot and WHO CARES?????? I don't - we are turning into Manly Cannibals!! Is it not enough that the rest of Australia rubbishes us? We don't have to rubbish each other as well! Be thankful we have Premiership Rings to order (who cares who gets one! I don't want one, if you do good on you!) as it means we are THE PREMIERS! and who cares who puts in money/gets a vote on the Board as long as they keep paying it WE HAVE A CLUB! GO THE MIGHTY SEA EAGLES!

 

[Timmy]

The only rings these clowns should be getting is the type they would get on their telephones to let them know that they're f**king fired.

 

[Volley]

They should sell them online at the MWSE superstore. If Board members can get them, Members should be able to get them as well at the 10% discount. Score.