slide rule
Jaws
The residential probably would have sold for way more than initially projected too.
Oh well I’m sure someone made out well.
Oh well I’m sure someone made out well.
Obviously in a vacuum long term financial stability > short term gain, and it's not like I know all the facts, but worth considering it is easy to criticise the decision now while we have a strong team and aren't dealing with the issues that may have arisen if these actions hadn't been taken.
If we were in a dire spot right now how many of you would instead be saying to just sell off some of the development to get some money in because survival is the only priority.
Wonder how much $ we invested into the womens league?
Egg is all over it. Cashflow problems significant. Heard that instead of owning the next stage of the development that includes retail (WOW, Aldi have committed) and a hotel that has secured a prominent operator on a long term lease the sharks are selling for a low ball price to get cash in the door day 1. (that said, the current deal is better than the one they almost had to do with a big listed entity).
Thats why Flanno is under so much pressure to cut back office costs but he is resisting. The club is still not shooting the lights out but the plan is the retail development will make it a more attractive destination.
My memory may be faulty but I believe at the AGM they said we had a 10% share of the ongoing retail/commercial income. And that selling in a lump sum would bring in an amount that was nowhere near equivalent to being worth 3m/year. I won’t mention the figure they were hoping for.Is circa $3m+ p.a. small? Long term plan was to use this annuity type income to support the club. Not sell it off but unfortunately they dont have much choice
Heard the Sharks are a bit further up the blurter than first thought. Apparently keen to sell stage 4 of the development (ie including the retail) rather than own and receive the rent as originally planned. Must be some serious questions as to where the current money received has gone as my mail is the balance sheet is not in great shape despite significant cash receipts received already! One to watch!!!
Yes feels like deja vu all over again in this threadthis has been known for some time.
this has been known for some time.
Much worse than you think!
Much worse than you think!
Assume the feral position Paul Kent
Hah that’s heaps better !It’s fetal but feral works just as good!