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News Wests Tigers - News and Views

Discussion in 'Wests Tigers' started by Muppet, May 4, 2013.

  1. Muppet

    Muppet Global Moderator Staff Member

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    RS_20130503165627382696-620x349.jpg
    Show of unity: Wests Tigers deputy chairman Nick Di Girolamo. Photo: Nick Moir

    IF EVER the title of this column is appropriate to an issue in sport and business, it is the impasse at Wests Tigers.
    Balmain, one half of the joint venture with Wests, has owed $160,000 to the NRL club since July last year. The debt arose following cost over-runs at Wests Tigers and while the Magpies have been able to meet the call for funds, Balmain has not.
    Wests, who peer through black and white glasses and see a joint venture club clothed in orange and black, have been frustrated for years at the perception Wests Tigers is often referred to as ''Balmain''.
    So, with Balmain unable to pay their share of the call to funds, Wests seized on an opportunity at a recent board meeting to do precisely what St George did years ago when their joint venture partners, the Steelers, could not stump up half of St George Illawarra's debt.
    St George demanded the chairmanship of the NRL club and therefore the casting vote at board meetings, breaking the deadlock that arose when the partners could not agree.
    On April 18, the Magpies offered Wests Tigers a loan of $1.5 million over three years on the condition Wests have the chairmanship and therefore the casting vote for the period of the loan. Balmain countered with a compromise proposal that both clubs contribute $250,000, plus Balmain pay the outstanding $160,000, with the sums to be advanced within 14 days.
    Wests, quite reasonably, said, ''Show me the money'', asking how could Balmain find $410,000 in two weeks when they couldn't produce $160,000 for nine months.
    The meeting also discussed the possibility of an independent audit of Wests Tigers' governance structure, particularly in view of the cost over-runs, partly caused by the continuing payment of the contract of sacked coach, Tim Sheens.
    Balmain proposed a Balmain board member should supervise the process on a temporary basis, a proposition rejected by Wests, who believe Wests Tigers is already a Tigers operation.
    It would seem attempts by Wests Tigers' chief executive, the very decent Stephen Humphreys - son of Balmain legend Kevin - to be even-handed having not satisfied either side. The meeting eventually resolved that no director could assume a paid role at Wests Tigers.
    On Tuesday evening, with the 14-day deadline for Balmain's $410,000 approaching, Wests were advised that shareholder loan documents had been drawn up for both clubs to provide the monies, meaning the timeframe had restarted.
    To the Magpie camp, this has been interpreted as yet another stall tactic, with them again demanding, ''Show me the money''.
    But on Wednesday night, the $160,000 ''equalisation payment'' arrived. On Thursday, the incoming Wests Tigers chairman, Mike Bailey from the Magpie side, went to NRL headquarters. The joint venture partners alternate the chair on an annual basis, and Bailey was accompanied by deputy chairman, Balmain's Nick Di Girolamo, in a show of unity.
    The visit had been arranged by Humphreys, mainly to introduce Bailey but it coincided with the opportunity to discuss possible NRL funding, including a Centre of Excellence at Campbelltown. Di Girolamo is on record as saying he would like centres of excellence at Leichhardt and Campbelltown.
    Wests say these centres could have been built years ago if Balmain had been able to provide their half of the funding.
    Di Girolamo says: ''It would be harsh to make Balmain a whipping boy for any blame about the progression of the joint venture,'' perhaps side-stepping the possibility that financial problems at Balmain Leagues Club have prevented the Tigers providing investment funds to the NRL club.
    Balmain stalwarts also point out that when the joint venture was formed in 1999, Wests were broke and it was Balmain who carried the financial burden for three years, providing $1 million a year.
    Today, however, Balmain is $6.8 million in debt, largely from borrowings to keep in the funding race with Wests. They also fund their junior representative teams and on Saturday play Penrith in the final of the S.G. Ball competition.
    Di Girolamo says of last year's winning S.G. Ball team: ''We've got two superstars of the future in Luke Brooks and Mitchell Moses. But from the under-18s up, we want to be focused on the Wests Tigers brand.''
    However, Wests Tigers' future probably depends on stopping the halfback combination of Brooks and Moses joining another NRL club, otherwise it is looking at recurring headlines of the ones that got away.
    This could make Wests Tigers as dysfunctional on the field, as it is in the board room.
    Di Girolamo obviously disagrees, saying: ''The chairman and I are working very well together to ensure Wests Tigers as a joint venture prospers in the future.''


    Read more: http://www.smh.com.au/rugby-league/league-news/wests-tigers-board-rift-could-spill-on-to-the-field-20130503-2iyf7.html#ixzz2SIglX2Gq
     
  2. Northern_Union

    Northern_Union Forum fool

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    He looks like he'd make sure you swim with the fishes if you were to disagree with him.
     
  3. tigerjim

    tigerjim Junior Member

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    Its already getting ugly and that's why the team is struggling. Uncertainty about their futures.
     
    TerryG likes this.
  4. Northern_Union

    Northern_Union Forum fool

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    The whole club may be in need of a clean out. From top to bottom.
     
  5. S J

    S J Mod Squad Staff Member

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    Wests Campbelltown Leagues has withdrawn from the Wests Tigers joint venture, sending a serious signal to the NRL that one of the sport's wealthiest backers in a region rich in playing talent will no longer financially support the amalgamated Magpies-Balmain club.

    While the Wests Campbelltown licensed club will continue its $200,000 a year support of the Campbelltown junior league, it will not contribute any funds to the NRL club. The message to the joint venture was communicated on Friday in a letter by lawyers acting for Wests Campbelltown. Wests Campbelltown held one of Wests' five votes on the NRL club board and, until this year, had often voted with Balmain, giving the Tigers a 6-4 victory in meetings.

    While the Wests Campbelltown vote will now flow to the Wests side of the joint venture, ensuring the Magpies camp can't be beaten in the boardroom, it will involve Wests Ashfield Leagues having to meet the share of cash traditionally contributed by Campbelltown.

    Future investment in the joint venture has been the cause of friction between Wests and Balmain.

    A $6.8 million debt at Balmain Leagues Club has meant the Tigers have experienced difficulty answering calls to satisfy the joint venture's rising debt. The Wests Group offered to provide Balmain's share of new funding in exchange for a casting vote at board meetings but this was rejected by Balmain.

    Read more: http://www.smh.com.au/rugby-league/league-news/disjointed-venture-campbelltown-withdraws-funding-for-tigers-20130612-2o4gj.html#ixzz2W2R2QEKm
     
  6. S J

    S J Mod Squad Staff Member

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    Jack Buchanan, Kurtis Rowe, Nathan Brown, Joel Luani and Timmy Moltzen are among the players who have been granted permission to look elsewhere
     
  7. nodd

    nodd Active Member

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    Bye Bye Balmain.

    Can't see the joint venture surviving- it'll be Wests or nothing. Balmain just don't have the funds.
     
  8. S J

    S J Mod Squad Staff Member

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    A $2.3 million debt has triggered personnel changes at Wests Tigers, with a more significant long-term realignment of ownership expected when joint venture partners, Western Suburbs, are asked to guarantee finances of the NRL club.
    Co-owners, Balmain, without any viable licensed club support, cannot meet a call to settle their half of the debt and are currently in default for over $200,000 and have been served notice of this.
    Following a tense meeting on Monday night at which key staffers were put on notice, it is anticipated the newly-united Wests Group will guarantee debt in exchange for greater voting rights. At present, both Balmain and Wests have five votes each at NRL board meetings but traditionally, Wests Campbelltown have used their single vote to support Balmain, rather than the three delegates from Ashfield and one from Wests Magpies football club.

    http://www.smh.com.au/rugby-league/...remains-anything-but-cosy-20130305-2fioa.html
     
  9. S J

    S J Mod Squad Staff Member

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    St George Illawarra reached a similar decision when the Steelers were unable to meet a financial call eight years ago. St George was given a casting vote and the chair, breaking any future deadlocks, although the club continues to receive support from the Illawarra.
     
  10. S J

    S J Mod Squad Staff Member

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    May need a re-think ... :)

    [​IMG]
     
  11. stanleyg

    stanleyg Well-Known Member

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    They can sell them on the side of the road outside their empty old tigers club that is a millstone around the clubs neck because they closed it BEFORE having finances and Approval in place to replace it.
     
  12. S J

    S J Mod Squad Staff Member

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    Jamal Idris signed.
     
  13. stanleyg

    stanleyg Well-Known Member

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    could be a good signing.....maybe:bag:
     
  14. ALX22

    ALX22 Well-Known Member

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    Lovett in some strife.
     
  15. stanleyg

    stanleyg Well-Known Member

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    a holdover from last year even though it has only just come to light.
    It is the failings or lack of them for 2017 that should prove interesting given that the Nrl is supposedly cracking down on errant player behaviour
     
  16. S J

    S J Mod Squad Staff Member

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    Kyle Lovett has avoided a conviction after pleading guilty to possessing cocaine. The 23-year-old was found with 0.39 grams of the drug hidden in his underwear when he was pulled over by police and searched in the early hours of December 23 at Pyrmont in Sydney.
     
  17. ALX22

    ALX22 Well-Known Member

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    No sniffing involved in this.
     
  18. ALX22

    ALX22 Well-Known Member

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    Rod Griffin released.
     
  19. S J

    S J Mod Squad Staff Member

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    You do have to ask what its all been about with Wests. Sacked coaches, Big Fours, shocking performances, Board hoo-ha's, etc etc.

    Now we see 3/4 of the Big Four might be gone - along with the Coach.

    And they are talking about buying people.

    Maybe its all been a clever/cunning plan to clean the joint out and build again ?
     
  20. stanleyg

    stanleyg Well-Known Member

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    The Joint venture clubs seem to have more issues than "stand alone" clubs and both just roll along from issue to issue with the core problem being debt levels.
    The Tigpies have struggled more than the Dragons though with cleanouts of a lot of players.
    Along with the white elephant of their old Balmain club which they shut down for redevelopment.
    Nothing wrong with the redevelopment idea BUT they apparently didn't have finances or approval granted before they shut the old club.
    The result is no income from the joint and it has been hanging around their neck like a Albatross ever since.
    The way they have been offloading staff and players they have the vacancies but where are they getting the cash to replace them from when they are still paying for people like Farah?
     

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