The Penn Factor

[SeaEagleRock8]

Not sure of the general arrangements and functions with joint ownership of entities or more specifically, sporting franchises but still am under the impression that the Penn " share is presently around the 67 % range .
Which would surely then denote majority ownership , not obviously full ownership , the role of chairman for Scott Penn but then hardly in the total Boss classification .
Anyway probably just a moot point again but still would assume technically , a bit of differentiation between a full ownership model and the current Manly franchise majority ownership format

If you control the board it doesn't matter if you only have 51% stake.
The FC still retains the preference share, which determines the club colours and playing at Brookie, although as we've seen there are ways around that too.
Bottom line, Penn controls the joint

 

[Frogz]

Penn owns around 75 percent of the Sea Eagles with a further 20 percent in the hands of businessmen Gary Wolman and Andrew Michael. The Manly District Football Club owns the remaining shares.....6 Mar 2024. He has no control over the running of the Leagues Club.

 

[robbiea]

The only Penn factor I see , is that our premiership winning ways , culture ,management and victorious teams have ceased under these cretins ownership & guidance.

 

[lsz]

There was a throw away article in the tele re the Des Payout

Manly have gone to extreme lengths to maintain the veil of secrecy around their payout to former coach Des Hasler, blacking out the figure in their latest financial report.

The Sea Eagles and Titans mentor Hasler finally settled their long-running legal dispute late last year, avoiding a drawn-out and potentially ugly fight through the courts.

Manly and Hasler have been tight-lipped around the size of the payout - the Sea Eagles had foreshadowed in previous financial reports that it could be in excess of $1 million, although they were fighting to pay significantly less.

Manly’s financial report for the 2024 season gives little away other than confirming that the parties had reached an agreement.

Under a clause titled ‘Events after the reporting period’, the annual report notes that a settlement was reached with a former employee and an associated entity on November 8.

The figure is then blacked out. The report goes on to say: “The settlement reflects a full and final payment of the matter. A provision has been included in the financial statements for this settlement.”

The report shows that the Sea Eagles had a $2 million uplift in revenue last year with the club edging towards $33 million.

I had a look but could not find the report anywhere online? My guess is it just went to journos?

 

[Mark from Brisbane]

There was a throw away article in the tele re the Des Payout

Manly have gone to extreme lengths to maintain the veil of secrecy around their payout to former coach Des Hasler, blacking out the figure in their latest financial report.

The Sea Eagles and Titans mentor Hasler finally settled their long-running legal dispute late last year, avoiding a drawn-out and potentially ugly fight through the courts.

Manly and Hasler have been tight-lipped around the size of the payout - the Sea Eagles had foreshadowed in previous financial reports that it could be in excess of $1 million, although they were fighting to pay significantly less.

Manly’s financial report for the 2024 season gives little away other than confirming that the parties had reached an agreement.

Under a clause titled ‘Events after the reporting period’, the annual report notes that a settlement was reached with a former employee and an associated entity on November 8.

The figure is then blacked out. The report goes on to say: “The settlement reflects a full and final payment of the matter. A provision has been included in the financial statements for this settlement.”

The report shows that the Sea Eagles had a $2 million uplift in revenue last year with the club edging towards $33 million.

I had a look but could not find the report anywhere online? My guess is it just went to journos?

What a ****show that was , and you’d have thought we would have learnt from the Bulldogs experience.

Titans will be next , or they’ll just struggle through to the end of his term.

Sadly I think the game has moved past Des & Wayne as well , both incredible coaches in their day , but I now believe their systems are “ old school” and I’m not sure this works with football , circa 2025

 

[DUFFMAN]

What a ****show that was , and you’d have thought we would have learnt from the Bulldogs experience.

Titans will be next , or they’ll just struggle through to the end of his term.

Sadly I think the game has moved past Des & Wayne as well , both incredible coaches in their day , but I now believe their systems are “ old school” and I’m not sure this works with football , circa 2025

Tend to agree.

Wayne was great in his day and was the top tier coach until the last few years.
Des was a great coach too as with Trent Robinson but the game has changed over the last 5 years and all three haven't adapted.

I was all for Des coming back a few years ago but it was a mistake and has cost the owners plenty.

Craig Bellamy has adapted as the game has changed over the last 20 years, that's why he will go down as the best coach of all time.

I can't see Des lasting at the Titans, give it 12-18 more months and it will end in tears.
Even Uncle Nick will be looking at moving Trent on at the end of 2026 if the Roosters don't make the finals this or next season.

 

[Mark from Brisbane]

Tend to agree.

Wayne was great in his day and was the top tier coach until the last few years.
Des was a great coach too as with Trent Robinson but the game has changed over the last 5 years and all three haven't adapted.

I was all for Des coming back a few years ago but it was a mistake and has cost the owners plenty.

Craig Bellamy has adapted as the game has changed over the last 20 years, that's why he will go down as the best coach of all time.

I can't see Des lasting at the Titans, give it 12-18 more months and it will end in tears.
Even Uncle Nick will be looking at moving Trent on at the end of 2026 if the Roosters don't make the finals this or next season.

Spot on

Yes no doubt about Bellamy he’s changed as the game has changed.

Wayne
Des

And yes Trentie ( who I hadn’t thought about ) really haven’t.

And it’s starting to show

 

[EaglesDontTweet]

Scott Penn interview addressing members coming up on Channel Nine afternoon news.

 

[eaglezap]

Scott Penn interview addressing members coming up on Channel Nine afternoon news.

He must have been reading ST on here today !

 

[EaglesDontTweet]

Update: Looks like the full Penn interview is on Nine 6:00pm news.

 

[Brookie1973]

Update: Looks like the full Penn interview is on Nine 6:00pm news.

Hopefully he wears a club polo. Unless he’s leaving of course.

 

[EaglesDontTweet]

Hopefully he wears a club polo. Unless he’s leaving of course.

So if he's wearing one of these he hasn't severed his ties?