Official Cronulla Sharks Board + Management

SF

SF

Mako Shark
Joined
Dec 16, 2005
Messages
10,016
Reaction score
1,609
Location
Monty Porter Stand
Six Again said:
One reason is the " staff " will include the Membership Team which will allow face to face .
Click to expand...
Yeah I think that would be the main reason. I imagine having professional/corporate offices would also help with attracting good staff, and just generally having the club/staff properly out in the community rather than a sheltered environment.

Dino also mentioned that all of the big clubs in the UK have a presence in the main shopping/CBD areas. That wasn't what prompted the purchase, but they inspected all of those shops and trying to take best practices from them. Obviously a lot bigger potential audience there though
 
Last edited:
Western Sharkie

Western Sharkie

Jaws
Joined
Aug 11, 2011
Messages
15,305
Reaction score
3,762
Location
Perth WA
Proud Shark said:
I do wonder if we'd see more revenue from just leasing it out though. Surely we have decent office space at the new club?
Click to expand...

This was my immediate thought when I was reading the article.

We won’t earn much as an owner occupier but if we leased it out we would earn much more IMHO.

I’m not unhappy about us building up our asset base but we want them “income earning” and passive income is even better (ie don’t need to do much for the income).
 
Jaz

Jaz

Great White
Joined
Nov 18, 2009
Messages
3,954
Reaction score
649
Location
Jannali
  • Top 3 home game requests this year were Dragons on a Saturday night, Panthers and Bulldogs.
This was our request? Nice of em to give us Dragons on a Thursday night and

Nice of 'em to give us Dragons on a Thurs night and no home game against Panthers.
 
  • Haha
Reactions: SF
Matty C of the Shire

Matty C of the Shire

Great White
Joined
Nov 22, 2011
Messages
3,693
Reaction score
242
Location
Canberra, ACT
SF said:
Yeah I think that would be the main reason. I imagine having professional/corporate offices would also help with attracting good staff, and just generally having the club/staff properly out in the community rather than a sheltered environment.

Dino also mentioned that all of the big clubs in the UK have a presence in the main shopping/CBD areas. That wasn't what prompted the purchase, but they inspected all of those shops and trying to take best practices from them. Obviously a lot bigger potential audience there though
Click to expand...
Hey mate, would you know if we are still getting rent from the development of club side
 
SF

SF

Mako Shark
Joined
Dec 16, 2005
Messages
10,016
Reaction score
1,609
Location
Monty Porter Stand
Sevshark

Sevshark

Great White
Joined
Oct 11, 2021
Messages
3,748
Reaction score
2,553
SF said:
No, we sold off our share around 2018-2019 for around $8 million... first raised at the 2018 AGM, and I think finalized in the 2019 $40 million agreement: https://sharksforever.com/index.php...re-bay-development.138099/page-2#post-1128075
Click to expand...

With the way material costs have skyrocketed over the last few years and just finances in general could turn out to be the best move we could have made.

Bluestone is owned by Aoyoun, or were, they went into default last year I believe then had to sell a bunch of assets off for a huge loss.

Have no Idea if any of that would of affected the clubs interests though.
 
SF

SF

Mako Shark
Joined
Dec 16, 2005
Messages
10,016
Reaction score
1,609
Location
Monty Porter Stand
Sevshark said:
With the way material costs have skyrocketed over the last few years and just finances in general could turn out to be the best move we could have made.

Bluestone is owned by Aoyoun, or were, they went into default last year I believe then had to sell a bunch of assets off for a huge loss.

Have no Idea if any of that would of affected the clubs interests though.
Click to expand...
Yeah it's hard to know, but I think we would have had some fairly stressful years over the Covid period, and now with retail struggling and more retail/supermarkets going into Cronulla... I think it was probably the right move. Diversifies us away from the single precinct too.

It's crazy when you look back at the original fitout estimates for the leagues club, estimated at $10-15 million (with $12 million being put in escrow for it), and it's now doubled.
 
HaroldBishop

HaroldBishop

Megalodon
Joined
Mar 8, 2012
Messages
55,352
Reaction score
8,192
Location
Sydney
SF said:
Yeah it's hard to know, but I think we would have had some fairly stressful years over the Covid period, and now with retail struggling and more retail/supermarkets going into Cronulla... I think it was probably the right move. Diversifies us away from the single precinct too.

It's crazy when you look back at the original fitout estimates for the leagues club, estimated at $10-15 million (with $12 million being put in escrow for it), and it's now doubled.
Click to expand...
Yep it's crazy alright.

We spent a bit of money on our house in 2018. Glad we did it then, reckon it would cost us at least double if doing it now.
 
Matty C of the Shire

Matty C of the Shire

Great White
Joined
Nov 22, 2011
Messages
3,693
Reaction score
242
Location
Canberra, ACT
SF said:
Yeah it's hard to know, but I think we would have had some fairly stressful years over the Covid period, and now with retail struggling and more retail/supermarkets going into Cronulla... I think it was probably the right move. Diversifies us away from the single precinct too.

It's crazy when you look back at the original fitout estimates for the leagues club, estimated at $10-15 million (with $12 million being put in escrow for it), and it's now doubled.
Click to expand...
Yeah that increase was unexpected .
though the investment in new property does diversify our holdings. hopefully it doesn’t cost too much to update that
 
Tiger Shark

Tiger Shark

Jaws
Joined
Apr 27, 2010
Messages
8,988
Reaction score
889
Location
Sydney
SF said:
Plenty of topics tonight...
  • Old bank purchase as above (planned as offices and merch store for the short-medium term, but I imagine it's ultimately a development site)
  • Club re-opening pushed back to at least Feb-2024, and fit-out costs have risen 30% (including major work replacing roof/awnings/facade of the existing building, more-expensive plant (machinery) deck, and bigger roof on new outdoor dining deck).
  • Everything is a mix of borrowing (from Commbank) and investments/cash in bank... all very complicated... their long-term projections are very positive though.
  • Ground capacity to be ~17,000 once leagues club work finished, including leagues club/hospitality. It is 13,500 this year.
  • No hope of any major political grants/funding for stadium in near future... they will work to get a slice of what is available, and to at least address the main priority which is two new dressing rooms (possibly by redeveloping the existing "hub" building on western side of ground). The Centre of Excellence $8m conditional funding was withdrawn by State Government in their last term, due to us not being able to get matching Federal funding... this meant the option to place it on Toyota site also is dead. Club working on a ten-year master plan for the ground.
  • Working to reduce pokies share of revenue, but any impact from any law changes expected to be some years away.
  • Ticketek will introduce seat buybacks to start for the Roosters game, with the club taking a percentage. Club has been pushing them for some time.
  • Dino, Fitzy and others toured UK stadiums/clubs over the off-season. Fitzy spoke for a while, and as always, is impressive.
  • Half a million group profit this year, both costs and revenue increased following Covid, but the overall result far better than the millions lost regularly a few years ago.
  • Top 3 home game requests this year were Dragons on a Saturday night, Panthers and Bulldogs.
  • New leagues club to have 600-capacity function room (sure that's been mentioned before, but just a note of interest).
  • Player signing news mostly covered elsewhere.
  • Still have some club amalgamation targets (Coffs Harbour off the table at this stage)
  • Mentioned that in terms of using the stadium more, that the current use from all the teams already is quite taxing for the ground, so any extra use would need to be carefully considered. Ground had to be re-surfaced over summer at a high cost, and meaning that the NRL team barely trained on it before Round 1. The soccer team thing is still just at expression of interest stage.
Click to expand...
Thanks for the update SF

- Glad to hear about the buybacks, it's a handy feature if you cant make a game, also means there's hopefully less empty seats drinking beers and putting money into the club
- Dissapointing the opening has been pushed back even further, would have been nice to visit the beer garden over summer, though wasn't expecting to have it open during our season. The money they'll get from pre and post game fans is going to be amazing.
- Curious to know what this 10 year master plan is. They need to start doing some work on it. Like you mentioned we need change rooms for the NRLW teams, next i'll be looking at bathrooms and give those corporate suites in the ET stand a revamp - terribly out of date. Though I'm glad they're determined to stay put, dont mind moving big games to other grounds but reality is we're not going to get huge crowds so a packed 17k that flow on to the leagues club before and after is likely to be better than moving to a new stadium
 
You must log in or register to reply here.
Top