GA and the Russians

[elevated position]

Our club has an annual budget of around $8m. We have annual losses of $750k, but we're reputed to owe >$1m to the ATO and will "owe $4m at the end of the year to Wyong Leagues (?)". We're going to need serious wedge, and I don't we go deep enough to be able to cover that with contributions from the grassroots.

This payment to Wyong RSL maybe the sole stumbling block for any investment into the Mariners Football Club as
Dibo suggests(not confirmed) the FC owes (or guaranteed it) it as to the COE Trust owing it.

 

[FFC Mariner]

I thought it was $3m but its not owed by CCM (the club) its owned by the trust set up by PT/LG and that other bloke.

Club has nothing whatsoever legally to do with CoE however, the stumbling block for any investment is (allegedly), Buying the club and having to bail out a completely separate property development AND let the seller retain control.

Cant think why people arent flocking to fund that (heads desk)

Allegedly, the only offer that was soley for the club was a "walk away and we will cover your debts" offer that was rejected because it didnt bail out the CoE.

 

[adz]

On 12 January 2010, a valid contract for the sale of the property at 1 Bryant Drive Tuggerah occurred with Mariners FC Developments Pty Ltd for $7.5 million.

The sale of 1 Bryant Drive Tuggerah was settled in March 2010 for $7.5 million, $4.5 million received March 2010 and balance of $3 million due 29th January 2013.

http://www.wyongrsl.com.au/about-us/2010-wyong-rsl-financial-accounts-report

 

[adz]

That payment to Wyong RSL is hardly a surprise. A payment of $4.5 million has already been made, why didn't anyone mention that? $3 million owing in January next year. I don't see the big deal?

Has anyone got plans or a schedule for the COE development?

Does anyone know for sure if things are behind, how far they are behind, and if anything is being cancelled, or are we all just sitting around making shit up now?

 

[FFC Mariner]

The grandstand for the "boutique stadium isnt being built. The Mariners building that is to go under it is finished but no stand (sadly)

The training pitch is still a mudheap and maybe would be ready for preseason

Allegedly, $4.5m of site work has been done already plus the capital works funded by Soccer5's (which is fantastic BTW).

Soccer5's carpark is due to open v soon so maybe development of the current area will now take place? It looks like the only work being done is the govt funded work.

 

[bikinigirl]

The grandstand for the "boutique stadium isnt being built.

. "isn't being" or "won't/will never be"?

It looks like the only work being done is the govt funded work.

. no real surprise there ... in many respects i see this as a good thing

. good to see you posting again BTW FFC

 

[Forum Phoenix]

That payment to Wyong RSL is hardly a surprise. A payment of $4.5 million has already been made, why didn't anyone mention that? $3 million owing in January next year. I don't see the big deal?

Has anyone got plans or a schedule for the COE development?

Does anyone know for sure if things are behind, how far they are behind, and if anything is being cancelled, or are we all just sitting around making shit up now?

I know someone high up in North. I'll ask how things are shaping up and repot back. He'll definitely know if developments are being scuttled or stalled.

I often feel like out of our "care" comes "fear" and we indeed we start making shit up.

I alos think the Trust is an excellent idea and I'd definitely be down with it.

Even just a 100 members at $200 buy in.... Certainly not a cure all as stated, but a lot of good cold be done each year with that sort of revenue.

Best

FP

 

[Nathan Byrn]

http://wotnews.com.au/announcement/sabina_corporation_cancels_unit_investment_in_mariners_development_trust/01245266/

 

[Nathan Byrn]

http://www.sabina.com.au/explanatory_memo.html

Scroll down

 

[elevated position]

Nice piece of info Nathan.
if Turnbull and Macabe's shares were the lot being sold to sabina then it could be suggested that he was about to pull the pin on his involement.

 

[Nathan Byrn]

Nice piece of info Nathan.
if Turnbull and Macabe's shares were the lot being sold to sabina then it could be suggested that he was about to pull the pin on his involement.

In the end it appears Sabina pulled the pin. During the Due dilligence process.

 

[Ancient Mariner]

Not wishing to be Jeremiah, however a few points need to be considered.

1) I would be concerned with getting supporters together to form a trust when they cannot get together to form a supporters group. Maybe with something serious it would be easier, we shall see.

2) I think some people would be keen to give initially but follow up commitments would be difficult to obtain unless there was a significant benefit displayed.

3) I am a little concerned about giving money into what is basically a privately owned concern. (See my earlier post about owners reasons).

4) Do we have anybody with the skills and time to drive this?

5) Apart from early in the very first season it appeared the the club was not overly keen on help from the supporters (Marinators), as time went on it felt as though we were being discouraged.

6) Do trusts generally set up a capital fund and then use income generated by that fund to support their beneficiary, if that is the way we go it will be a very long term project.

7) If it does get up it can only take one poor decision to ruin future support. I imagine after Rojas, it will be a while before the Yellow Fever put their hands in their pockets again.


However, I am sure all these issues can be addressed. I have no knowledge about how to set up or run such a venture but would be very willing to come on board with cash and some out of town help.

 

[adz]

http://wotnews.com.au/announcement/sabina_corporation_cancels_unit_investment_in_mariners_development_trust/01245266/

... completion of the $36 million Mariners development project at Tuggerah in NSW, scheduled for August 2013 ...

 

[midfielder]

... completion of the $36 million Mariners development project at Tuggerah in NSW, scheduled for August 2013 ...

My guess is the August 13 completion date relied on the Sabina coming in with the cash...

 

[adz]

My guess is the August 13 completion date relied on the Sabina coming in with the cash...

Correct me if I'm wrong but the only cash I see mentioned is $750,000... is that enough to stop a $36 million project?

 

[Nathan Byrn]

Please take your time reading the attached information.



The Telegraph raises a few points

http://www.dailytelegraph.com.au/sport/soccer/a-league-boss-lyall-gormans-financial-links-to-mariners/story-e6frey4r-1226104592202

 

[FFC Mariner]

Not wishing to be Jeremiah, however a few points need to be considered.

1) I would be concerned with getting supporters together to form a trust when they cannot get together to form a supporters group. Maybe with something serious it would be easier, we shall see. (I think it would be easier to get support for this as it reaches across all supporters/members)

2) I think some people would be keen to give initially but follow up commitments would be difficult to obtain unless there was a significant benefit displayed.(yes, thats going to be hard)

3) I am a little concerned about giving money into what is basically a privately owned concern. (See my earlier post about owners reasons). (supporters trust wouldnt give anything, would buy equity in return for board representation or no deal)

4) Do we have anybody with the skills and time to drive this? (a key issue but yes, I think someone would)

5) Apart from early in the very first season it appeared the the club was not overly keen on help from the supporters (Marinators), as time went on it felt as though we were being discouraged.(Desperate beggars cant be choosers)

6) Do trusts generally set up a capital fund and then use income generated by that fund to support their beneficiary, if that is the way we go it will be a very long term project. (Unlikely that the capital would be sufficient - therefore money raised by sale of trust units would be used to fund shares in CCM)

7) If it does get up it can only take one poor decision to ruin future support. I imagine after Rojas, it will be a while before the Yellow Fever put their hands in their pockets again.(YF werent getting anything in return for their "investment". Commercial terms, we give, they give or no deal)


However, I am sure all these issues can be addressed. I have no knowledge about how to set up or run such a venture but would be very willing to come on board with cash and some out of town help.

 

[Ancient Mariner]

Please take your time reading the attached information.



The Telegraph raises a few points

http://www.dailytelegraph.com.au/sport/soccer/a-league-boss-lyall-gormans-financial-links-to-mariners/story-e6frey4r-1226104592202

Nothing new, all well known (like Lowie's interest in SFC).
Although I now thought his Mariners shares were now held by his wife.

 

[midfielder]

Please take your time reading the attached information.



The Telegraph raises a few points

http://www.dailytelegraph.com.au/sport/soccer/a-league-boss-lyall-gormans-financial-links-to-mariners/story-e6frey4r-1226104592202

Do you read the date .... July 2011 ... has been dealt with before... simple FFA wanted him...

 

[midfielder]

Without repeating my post on the previous page ... the answer lies in the crowd we get .. assume $ 20.00 a ticket ... 50, 000 tickets equals a million plus the extra sale of shirts etc... so say 1.1 million...

With 16 home game if we count ACL matches that ... 50, 000 / 16 = 3, 125 extra people tho the gate per match and we are sweet as... how do we grow our crowd from 9.5 K to 12.75 K...