Official Cronulla Sharks Board + Management

[SF]

Yeah it wouldn’t be the easiest to develop either, being on a steep hillside. I think ultimately they could find a good solution with integrated apartments and club (it certainly would have great views), but can’t imagine it would be rivers of gold like the Woolooware land.

 

[apezza]

The Club does not own the golf course , it is owned by the council .

The club does own the land the club building stands on together with extra developable land , with the current long term plan being to develop it with units for the 55+ age group.

A similar thing is being built at Chatswood golf club. I think they have sacrificed a hole or two ang building over 55s and a huge club.

 

[SF]

Chairman's Address - First Quarter - 2024

Welcome to the 2024 first quarter Chairman's Address following a successful and well attended Annual General Meeting held at Sharks at Kareela last Wednesday night.

www.sharks.com.au

 

[SF]

CEO Update - March 2024

Sharks CEO Dino Mezzatesta provides his monthly update relating to business conducted during the month of March across all areas of Club operations.

www.sharks.com.au

 

[Tatus]

So this Dorrell guy is an investor?

Anyone think there is a link between the money we got from him, the real estate we own and Riley’s gym going in there recently?

Deano said there going to be a big return on the investment. Is that a bargaining chip that got us in front of Dorrell?

I’m putting 1 and 1 together and getting 7 here, but would it be a smart move from Dorell to give us a % of the expected return on the real estate up front, in return for remaining % later on? Let’s say he is invested in Riley’s gym too… is this a good business move?

 

[Sevshark]

So this Dorrell guy is an investor?

Anyone think there is a link between the money we got from him, the real estate we own and Riley’s gym going in there recently?

Deano said there going to be a big return on the investment. Is that a bargaining chip that got us in front of Dorrell?

I’m putting 1 and 1 together and getting 7 here, but would it be a smart move from Dorell to give us a % of the expected return on the real estate up front, in return for remaining % later on? Let’s say he is invested in Riley’s gym too… is this a good business move?

Dorell's company was involved in purchasing the port of Geelong for like 700mil


Think a gym is a little beneath them.

 

[Sevshark]

@Tatus and any one else interested

This is the Wikipedia article for Dorell's company which lists a few of the key investments they've made over the years;

Stonepeak - Wikipedia

en.m.wikipedia.org

Of most note for mine; they are part of the ownership group of a Casino in Vegas.

 

[Gal The Goat]

“Mike's financial contribution will involve a five year donation and we have no doubt he will continue to be a strong supporter of the Club for many years to come.”

Has anyone touched on this yet? Does that mean he’s going to donate $5m (or some amount) every year for the next 5 years?

 

[Tiger Shark]

It’s 1mil each year for 5 years I believe

 

[Western Sharkie]

@Tatus and any one else interested

This is the Wikipedia article for Dorell's company which lists a few of the key investments they've made over the years;

Stonepeak - Wikipedia

en.m.wikipedia.org

Of most note for mine; they are part of the ownership group of a Casino in Vegas.

Maybe they can sponsor us for a percentage of the takings from the Casino?

Just 0.0001% would still make us the wealthiest club in the NRL

 

[Sevshark]

Maybe they can sponsor us for a percentage of the takings from the Casino?

Just 0.0001% would still make us the wealthiest club in the NRL

We're not asking for much

 

[Western Sharkie]

We're not asking for much

EXACTLY.

 

[Addy]

@Tatus and any one else interested

This is the Wikipedia article for Dorell's company which lists a few of the key investments they've made over the years;

Stonepeak - Wikipedia

en.m.wikipedia.org

Of most note for mine; they are part of the ownership group of a Casino in Vegas.

How in the **** can you acquire a company with 3.6 million in cash?

 

[Sevshark]

How in the **** can you acquire a company with 3.6 million in cash?

 

[Sparkles]

IPL is a different country & culture. Pommy RL fans are way different too singing & ****.

Not saying ya can't get into it without booze but there's no denying it helps.

A lot of people aren't there for the footy, or not just the footy.

Feels like most of the Sharks crowd isn't there for the footy. Maybe that's why there's less noise, they're too busy socialising and people watching

 

[Tatus]

How in the **** can you acquire a company with 3.6 billion in cash?

FTFY

Probably wrong, but a video I saw recently said when you have heaps of assets, you can take out a loan/line of credit against your assets..

Here is the video I’m going off.

 

[Western Sharkie]

FTFY

Probably wrong, but a video I saw recently said when you have heaps of assets, you can take out a loan/line of credit against your assets..

Here is the video I’m going off.

That is generally how lending works.

 

[Tatus]

That is generally how lending works.

I don’t do money obviously. Could you explain for me what an asset is?

I guess the video more so explains how someone can have “paid in cash,” when the amount is so huge. Like who tf has that amount of cash lashing around?

 

[MrDravid]

I don’t do money obviously. Could you explain for me what an asset is?

I guess the video more so explains how someone can have “paid in cash,” when the amount is so huge. Like who tf has that amount of cash lashing around?

I'm guess they probably sold some investments to raise the cash and then used said cash to buy the new company.

 

[Western Sharkie]

I don’t do money obviously. Could you explain for me what an asset is?

I guess the video more so explains how someone can have “paid in cash,” when the amount is so huge. Like who tf has that amount of cash lashing around?

You would be surprised as to the levels some people/ companies/ NFP/ Religious/ local government/ council entities have.

”Cash” doesn’t need to be physical (counting out $100, $200, $300……….., $3.6m)
A ”cash” purchase would just be an electronic transfer from one bank account (Purchaser) to another (seller).

$3.6m seems alot to us, but in the business world, it’s not so much.

A very simple definition:
An “asset” is something of value that others would be willing to buy/own.
it can be offered (and accepted) as “security“ for “cash” (loans) to use elsewhere for other purposes (like making more money)