Official Shark Park & Woolooware Bay Development

[snowman]

There isn't enough talent in the comp we have to support the amount team we already have.

Tim Mannah is paid to play footy FFS.

so is the guy in your dp, which yes, I agree with you sentiment

 

[Gumby]

our future is secured! HOORAY!!!!!!!!

 

[Sparkles]

our future is secured! HOORAY!!!!!!!!

Haha that's more like it

 

[egg]

our future is secured! HOORAY!!!!!!!!

As long as we got the very best deal , because our current circumstances warranted this arrangement and it's not political ( board elections ) , I'm happy too
Can Fitz or others knowing the ins and outs of our finances comment ?

 

[Mark^Bastard]

I don't really buy the "there isn't enough talent" angle. As long as the talent is spread around somewhat evenly the product itself will still be good.

Plus there's quite a few players that aren't horrible that just leave the game. I'd argue that the increase in opportunity would result in a greater talent pool. There'll be a little bit of dilution but not a crazy amount.

 

[samshark]

There is plenty of talent around. I've never bought that angle either. The problems with the product has been the rules; interchange and officiating.

Half the players going around in NSW Cup; Qld Cup; Ron Massey are similiarly talented to NRL players but they are not full time so not as strong not as fit or havent yet had the opportunity to be full time players.
You put some of those players in the full time NRL set ups and they will be just as good.

 

[Milkshark]

There is plenty of talent around. I've never bought that angle either. The problems with the product has been the rules; interchange and officiating.

Half the players going around in NSW Cup; Qld Cup; Ron Massey are similiarly talented to NRL players but they are not full time so not as strong not as fit or havent yet had the opportunity to be full time players.
You put some of those players in the full time NRL set ups and they will be just as good.

The NSW cup is crap.

The talent we currently have is so diluted in the current teams already. Some clubs shouldn't even have team in the NRL (Parra, Titans, Tigers, Newcastle). Take those 4 out and disperse their actual good players amongst the rest of the clubs and we have a much stronger competition already.

I do however agree that the current rules do need to change to get more skilled players back in the game. I've said it before, decrease the interchange, halve it. Watch all the skilled players fastly become NRL worthy.

 

[yadam]

it wont cost anywhere near 12 million and most of it has already been done

All the area that has been refurbished will become a 3rd party Gym (I think), it won't be the club. The new Leagues club will be the top two levels of the current club but over a larger floor space taking in the new outdoor areas. The current bottom two floors are part of the retail section and won't be part of the new refurbished club. It will basically be a brand new leagues club after it has been gutted and rebuilt from scratch.

 

[yadam]

Isn't it nearly a whole new site .
Deck over Summertime bar.
Complete alteration to encompass that ?
Or recent renos will flow into the alterations required to make deck work ?
Most of the remaining club becoming the retail section of the development ?
I was hoping 12 mil is enough.

Correct - its not a refurb it s a total rebuild internally, only on top two floors plus the new floor space

 

[snowman]

All the area that has been refurbished will become a 3rd party Gym (I think), it won't be the club. The new Leagues club will be the top two levels of the current club but over a larger floor space taking in the new outdoor areas. The current bottom two floors are part of the retail section and won't be part of the new refurbished club. It will basically be a brand new leagues club after it has been gutted and rebuilt from scratch.

i'd be surprised if that still cost more than 10mil

 

[common]

Okay, so for those more in the know with all this info than I, can you fill in some blanks for me. Was this sell off always a part of the plan?

I thought there was supposed to be some retail aspect that we were holding onto as the revenue stream going forward that was to position the club financially for years to come. Or have they been forced, in a sense, to change their minds a bit in order to cover debts etc?

 

[Gards]

our future is secured! HOORAY!!!!!!!!

For the third time!

And this time they really mean it !

 

[kotwben]

Okay, so for those more in the know with all this info than I, can you fill in some blanks for me. Was this sell off always a part of the plan?

I thought there was supposed to be some retail aspect that we were holding onto as the revenue stream going forward that was to position the club financially for years to come. Or have they been forced, in a sense, to change their minds a bit in order to cover debts etc?

It's always been an option in all the articles I've read since it was approved. Ride the rollercoaster of the rental aspect of the retail development or sell off the rights and pocket the guaranteed yearly income.

 

[fitz]

Hmmmm...

Okay... I've been caught up with work so haven't really had much of a chance to think this one through, but here goes.

Breathe...

Is any of the nuts and bolts of this actually known? Like timeframe, sureties, benchmarking, contracts, guarantors, risks, securities?

The only real info that we have is stuff out of Rothfield's yap - funny he should be once again talking up his prefered Board candidates in the midst of a Board election... but anyhoo...

Just some seriously rough calcs...

Sale of interest in outstanding residential - maybe around $25M
Sale of commercial interest - never the cash-cow some thought - $18M at best I'm guessing


25 +18 = $43M


Club's payment 'in kind' as the seed for Club renos (this ain't cash from what I can tell just an arbitrary dollar offset by developers who'll be doing the works for the Club) - $12M
- last I heard the Club renos were costed out around $18M so the Club has to stump up its own $6M


Current debts that need to be exhausted - $10M (ish)

Required cash on hand to operate for the next 2 years while all this is happening - about $4M

So...

43 - 12 - 6 - 10 - 4 = 11

So where is this $18M "Future Fund" coming from? How is that to be invested? What's are the governance / risk issues around that?

I'll wait to see what the Club says in its official communique to Members because that will (hopefully) have some actual detail and costings / projections to it.

Rothfield's piece seems to be all lollipops and unicorn farts - hope the Club explains all of this a bit better to its membership - afterall, they're the actual key stakeholders here.

 

[Addy]

Do we own, or did we ever own the land the Caltex is on?

 

[Matty C of the Shire]

ALDI announces plans to move into Woolooware Bay Town Centre
MARCH 18, 2019
German supermarket chain ALDI has submitted an application to Sutherland Shire Council for a supermarket and bottle shop at the Woolooware Bay Town Centre development.

The $1.17m application also revealed the shopping centre will be known as Bay Central.


Architectural rendering of Woolooware Bay Town Centre development project. Picture: Supplied
ALDI has also made a separate liquor licence application in relation to the bottle shop.

The store is proposed to trade from 7am to 10pm seven days a week, with restocking and deliveries occurring onsite 24 hours a day seven days a week.

Deliveries are likely to be made by 19m articulated trucks and smaller delivery vehicles.

ALDI will rely on the shopping centre’s 770-space car park for its customers.

“The proposed development does not give rise to any adverse environmental impacts and will have a positive impact in terms of employment generation and increasing the availability of local shops in Sutherland Shire,” the applicant wrote.

“In light of the merits of the proposal and in the absence of any significant adverse environmental, social or economic impacts we recommend that the application be approved subject to standard conditions of consent.”

What do you think of the plans? Join the conversation on Facebook and Twitter.

 

[Western Sharkie]

I think we should consider a “Sharks store” (rent free) selling Sharks merchandise, memorabilia, game day tickets, memberships and general sporting goods.
Could be added to our sale agreement of our retail interests that they are current negotiating.

 

[Matty C of the Shire]

I think we should consider a “Sharks store” (rent free) selling Sharks merchandise, memorabilia, game day tickets, memberships and general sporting goods.
Could be added to our sale agreement of our retail interests that they are current negotiating.

West tiger has a store in one of the Campbelltown shopping centres (in which was open for a few yrs but it closed down late 2017)

 

[HaroldBishop]

I think we should consider a “Sharks store” (rent free) selling Sharks merchandise, memorabilia, game day tickets, memberships and general sporting goods.
Could be added to our sale agreement of our retail interests that they are current negotiating.

Yeah nice thought mate but I doubt it would be profitable.

 

[Western Sharkie]

West tiger has a store in one of the Campbelltown shopping centres (in which was open for a few yrs but it closed down late 2017)

Yeah nice thought mate but I doubt it would be profitable.

Maybe but if we could negotiate a “peppercorn lease” then we should make money from it.

We could run our online sales and set up an eBay store serviced from the shop.
It could be something the club could at least investigateand might help with a few different things;
1. help establish another revenue stream (especially if we don’t pay rent) and
2. help with our branding and selling more jerseys and merchandise

Anyway, just an “outside of the box” thought which I think would be worth investigating.