Ryan
Journey Man
Mick, I recall an article suggesting that now that Quantum have become an owner, and Max has taken a step back, the club IS in fact now able to acquire new talent, because all parties have the capacity to invest the same capital in a fair arrangement going forward.
Now, I'm not say ANYTHING about anyone's position, because that is their private business, not mine, and all I care for is our team.
I'm just saying everyone suggesting the club is broke after:
1. We have now been part purchased by a commercial entity;
2. We have now acquired a major corporate sponsor;
3. The NRL under the new commission is set to provide clubs with an additional circa $750k per season;
4. We have the potential to get yet ANOTHER Corporate major sponsor for the front of the jersey, and Lowey has promised that discussions are well under way with a number of entities
I just think people are over sensitive, and it is not as bad as all of that. Now, before we say our club is broke, I want to let you know a few details here (remembering an owner of the business Quantum with Manly) would not allow it to fall off the tracks:-
Over the past two years Quantum have posted $53,445,000 in NET profit. That is WITHOUT adding back $529,000 in depreciation, which really is an intangible expense. The company has paid $14,715,000 in tax. The revenue for the group for the past 24 months has been $188,858,000.
All this, while the government has made legislative changes around incentives, meaning revenue would dramatically decrease, but which has meant Quantum have sought alternate sources of revenue throughout Asia and other streams.
The NET assets of the company grew $8,957,530 through a Global Financial Crisis to $43,449,000.
Now, why am I saying all this, and I realise it may be mumbo-jumbo to a lot of you, but it shows the Eagles are a LONG way from going broke. A LONG WAY ! This is without knowing the position of Scott Penn, which I believe is in a very, VERY sound position. Here is a summary of Scott:-
http://www.sphealth.com.au/
Scott Penn
Founder and Chairman
Scott Penn has been an influential member of the weight-loss industry for more than 15 years. Having battled with his weight since his early teens (he attended his first Weight Watchers meeting at age 13) he is one of the few diet educators who has firsthand experience with weight loss.
Scott started his career in the late 1980s with the advertising agency George Patterson. In 1994, he joined Weight Watchers Australia (which his family had a minority shareholding in) to help his parents grow the business. When the company was acquired by a New York based private equity firm, Scott was made CEO of Australasia and a Global Vice President of Weight Watchers International, Inc. In this role he embarked on a number of pioneering initiatives including the launch of the company’s first men’s only program and development of a global food endorsement device. Scott was also instrumental in lobbying the Australian Government to increase awareness of the obesity crisis and argue for incentives for members of the public to lose weight.
More recently, Scott, through SP Health Co, has developed the world’s most comprehensive online weight-loss platform which is currently powering The Biggest Loser Club in Australia and Asia. His interest in health extends into sport and fitness—he is Chairman and Co-owner of the Manly Sea Eagles Football Team and owner of the iconic Australian surf brand, Aloha.
Scott is passionate about health, especially weight loss, and has always been interested in the psychology behind why people overeat. This passion, along with a genuine and grave concern for Australia’s emerging ‘soft society’, led Scott to write The Click Diet—a back to basics approach, which incorporates Scott’s experiences with weight loss and what he calls the “3E’s†of weight management—Energy, Emotion, Environment.
Post automatically merged: [time]1293405520[/time]
Therefore, basically people - stop with the broke bull****....if Quantam and co. had to pump in a lazy $2,000,000 to keep us afloat, and to keep their company name at the forefront in the media through exposure, they would.
We can now move on from this.
Now, I'm not say ANYTHING about anyone's position, because that is their private business, not mine, and all I care for is our team.
I'm just saying everyone suggesting the club is broke after:
1. We have now been part purchased by a commercial entity;
2. We have now acquired a major corporate sponsor;
3. The NRL under the new commission is set to provide clubs with an additional circa $750k per season;
4. We have the potential to get yet ANOTHER Corporate major sponsor for the front of the jersey, and Lowey has promised that discussions are well under way with a number of entities
I just think people are over sensitive, and it is not as bad as all of that. Now, before we say our club is broke, I want to let you know a few details here (remembering an owner of the business Quantum with Manly) would not allow it to fall off the tracks:-
Over the past two years Quantum have posted $53,445,000 in NET profit. That is WITHOUT adding back $529,000 in depreciation, which really is an intangible expense. The company has paid $14,715,000 in tax. The revenue for the group for the past 24 months has been $188,858,000.
All this, while the government has made legislative changes around incentives, meaning revenue would dramatically decrease, but which has meant Quantum have sought alternate sources of revenue throughout Asia and other streams.
The NET assets of the company grew $8,957,530 through a Global Financial Crisis to $43,449,000.
Now, why am I saying all this, and I realise it may be mumbo-jumbo to a lot of you, but it shows the Eagles are a LONG way from going broke. A LONG WAY ! This is without knowing the position of Scott Penn, which I believe is in a very, VERY sound position. Here is a summary of Scott:-
http://www.sphealth.com.au/
Scott Penn
Founder and Chairman
Scott Penn has been an influential member of the weight-loss industry for more than 15 years. Having battled with his weight since his early teens (he attended his first Weight Watchers meeting at age 13) he is one of the few diet educators who has firsthand experience with weight loss.
Scott started his career in the late 1980s with the advertising agency George Patterson. In 1994, he joined Weight Watchers Australia (which his family had a minority shareholding in) to help his parents grow the business. When the company was acquired by a New York based private equity firm, Scott was made CEO of Australasia and a Global Vice President of Weight Watchers International, Inc. In this role he embarked on a number of pioneering initiatives including the launch of the company’s first men’s only program and development of a global food endorsement device. Scott was also instrumental in lobbying the Australian Government to increase awareness of the obesity crisis and argue for incentives for members of the public to lose weight.
More recently, Scott, through SP Health Co, has developed the world’s most comprehensive online weight-loss platform which is currently powering The Biggest Loser Club in Australia and Asia. His interest in health extends into sport and fitness—he is Chairman and Co-owner of the Manly Sea Eagles Football Team and owner of the iconic Australian surf brand, Aloha.
Scott is passionate about health, especially weight loss, and has always been interested in the psychology behind why people overeat. This passion, along with a genuine and grave concern for Australia’s emerging ‘soft society’, led Scott to write The Click Diet—a back to basics approach, which incorporates Scott’s experiences with weight loss and what he calls the “3E’s†of weight management—Energy, Emotion, Environment.
Post automatically merged: [time]1293405520[/time]
Therefore, basically people - stop with the broke bull****....if Quantam and co. had to pump in a lazy $2,000,000 to keep us afloat, and to keep their company name at the forefront in the media through exposure, they would.
We can now move on from this.
