Official Cronulla Sharks Board + Management

sharkgaz

Tiger Shark
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Bring on Homebush! Can’t wait to soak up the atmosphere there, especially when playing the Titans/Warriors.
 

egg

Jaws
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FFS , It seemed all mapped out.
Residential sales selling strongly generating income for both club and the developer .
Developer starts on retail , more profits for both club and the developer .
Leagues Club gets built overlooking Botany Bay with patronage by the local residents , shoppers , members and gameday crowds . More profits to Club .
This all providing excess funds for ground upgrade and to become a Sydney NRL powerhouse club .
What the F has changed ?
 
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FFS , It seemed all mapped out.
Residential sales selling strongly generating income for both club and the developer .
Developer starts on retail , more profits for both club and the developer .
Leagues Club gets built overlooking Botany Bay with patronage by the local residents , shoppers , members and gameday crowds . More profits to Club .
This all providing excess funds for ground upgrade and to become a Sydney NRL powerhouse club .
What the F has changed ?

As Captain Edmund Blackadder said, there was one tiny flaw in the plan.

“It was bollocks!”
 

fitz

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As Captain Edmund Blackadder said, there was one tiny flaw in the plan.

“It was bollocks!”

Hmmmm... I don't think the original plan was bollocks at all.

I think the plan changed a lot along the way when some folks spent more time focusing on how they could rake in a personal profit out of all of this rather than what was best for the Club and its sustainability for the long term.
 
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Hmmmm... I don't think the original plan was bollocks at all.

I think the plan changed a lot along the way when some folks spent more time focusing on how they could rake in a personal profit out of all of this rather than what was best for the Club and its sustainability for the long term.

I wasn’t talking about the original plan mate, sorry.
 

egg

Jaws
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Hmmmm... I don't think the original plan was bollocks at all.

I think the plan changed a lot along the way when some folks spent more time focusing on how they could rake in a personal profit out of all of this rather than what was best for the Club and its sustainability for the long term.

Any chance of any name and shame with public lynchings ?

Perhaps even some repatriation ?
CROOKS !!!
 

Capital_Shark

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If/when the NRL mandates all Sydney clubs to abandon their suburban homes it will be a while down the road. Obviously the redevelopments/rebuilds of SFS & ANZ have to happen first and that'll take a while if it does go ahead. Then if the plan is to move Sydney teams it'll take some time. I dunno how that could be causing financial pressures now.

There is board elections coming up isn't there? Plenty of **** to be tossed around yet, fitz just flung the first turd.
 

hank

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In a word...FUNDING! Banks are pulling back significantly on development funding given new APRA rules. (even with precommitments) Trust me, this could get very ugly for many people that rely on cheap debt to fund their lifestyle. If any of you have recently tried to get an interest only loan you will start to understand, but that is just the tip of the iceberg.

There are new lenders filling the gap, but the cost of borrowing is much higher and often means developments are no longer viable.
 

HaroldBishop

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In a word...FUNDING! Banks are pulling back significantly on development funding given new APRA rules. (even with precommitments) Trust me, this could get very ugly for many people that rely on cheap debt to fund their lifestyle. If any of you have recently tried to get an interest only loan you will start to understand, but that is just the tip of the iceberg.

There are new lenders filling the gap, but the cost of borrowing is much higher and often means developments are no longer viable.

I thought there was a glut of new apartments currently being built across Sydney?
 

fitz

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I thought there was a glut of new apartments currently being built across Sydney?

Yes, but most of those were approved at a feverish pace with cheap finance and housing supply falling well short of demand. The housing market is correcting at the moment.

We’re not talking about housing development here though... this is about commercial/retail development which is entirely a different prospect because of a completely different financial model. The issues ahead for the Board is to secure the funds for both the commercial development as well as a potential upgrade to Shark Park. At some point, given the pressure to relocate to Allianz and ANZ, the decision to upgrade the stadium could be just creating a white elephant and a poor financial risk.
 

HaroldBishop

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Yes, but most of those were approved at a feverish pace with cheap finance and housing supply falling well short of demand. The housing market is correcting at the moment.

We’re not talking about housing development here though... this is about commercial/retail development which is entirely a different prospect because of a completely different financial model. The issues ahead for the Board is to secure the funds for both the commercial development as well as a potential upgrade to Shark Park. At some point, given the pressure to relocate to Allianz and ANZ, the decision to upgrade the stadium could be just creating a white elephant and a poor financial risk.

Unfortunately I think this is true. IMO it would take a massive upgrade to secure our future at Shark Park. Probably increasing capacity to 25k with 15k of that undercover which would cost a fortune. The Government won't chip in and we can't fund it.

I'm not saying that's how it should be but I'm guessing in the eyes of the NRL, it's probably something along those lines.

I feel sick suggesting this but I think the only chance we have of staying in the 'burbs is to team up with the Stains and a southern A League franchise, all playing out of the same ground.
 

Mark^Bastard

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FFS , It seemed all mapped out.
Residential sales selling strongly generating income for both club and the developer .
Developer starts on retail , more profits for both club and the developer .
Leagues Club gets built overlooking Botany Bay with patronage by the local residents , shoppers , members and gameday crowds . More profits to Club .
This all providing excess funds for ground upgrade and to become a Sydney NRL powerhouse club .
What the F has changed ?

The coke snorting carpet baggers that rocked up the day the club had some value?
 

Mark^Bastard

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If any of you have recently tried to get an interest only loan you will start to understand

Had to get a line of credit account instead at a much higher rate. Somehow charging me an extra 1% interest on what is basically the same product is 'responsible lending'.
 

yadam

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Heard the Development partner that was financing the Retail section pulled out - hence the no start on that side yet, though anchor tenants are all in place. That is probably what Fitz is referring too. Upgrading the stadium was always a separate issue to the retail side of construction though upgrades should have occurred in part with any build along that sideline. This affects the leagues club rebuild and future club profits etc. The Unit side though is humming along nicely with only few units left to sell in the last stage.

Remember the Gov is giving us nearly 10 million for the stadium and its integrated COE as long as we also raise the matching money - which is turn comes from the new leagues club.
 
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