Mariners Financial Crisis in the Daily Tele

[midfielder]

Given the finance issue must have been known for quite a while now by the Mariners Board [maybe they tho there would have been a new federal election by now with some more goodies]

Given the timing involved if PB wanted support of the fans and CCM community in general he would have asked by now... to most it is obovious PB wants a player with deep pockets prepared to leave PT in charge, as for the COE who knows what the structure is...

As an aside for those saying a trust .... we accountants love trust as you can do almost anything in them ...

If there was going to be a model my suggestion is an association of some kind ... but alas I think that ship has sailed a while ago ... the time and checks needed fall outside the timeframe of when we need the money... and as I said earlier if TP wanted community help he would have asked by know...

 

[midfielder]

From the smh ... as part of a much larger article... three or four irons in the fire... sounds encouraging...

The other concern for Gorman is the viability of Central Coast Mariners, a club close to his heart - he was the founding shareholder. ''It's the part of the jigsaw we haven't quite sorted out,'' Gorman says. ''There are three or four irons in the fire regarding new investors, and hopefully we're close to getting the new capital in. The Mariners have always punched above their weight, they're a remarkable club in many ways, and I've got absolutely no doubt they'll continue to be there, and continue to do well.''

Read more: http://www.smh.com.au/sport/a-league/clever-strategies-help-turn-aleague-around-20111125-1nz0r.html#ixzz1emIWFBac

 

[marinermick]

The Mariners have asked CCF for $500000 and they rightly said no.

 

[universalmind]

From an outsiders point of view looks like the club is really f**ked. I'm amazed the players have continued to play the way they do week in week out. At the moment it looks like the only hurdle to new investment is turbulls conditions. We be interesting to see how the season plays out. If the players revolt it could have a major impact on performance then crowds. It could go to a point where there is no coming back....

 

[Ted]

The Mariners have asked CCF for $500000 and they rightly said no.

Woah, not sounding too good is it? :blink:

 

[curious]

The Mariners have asked CCF for $500000 and they rightly said no.

Under the constitution of a not for profit community organisation, are they even permitted to give/donate/invest community funds in a private organisation such as the mariners?

 

[midfielder]

This is starting to mirror the Nix ... aside from on the park... Terry S reactions and Peter T are very similar...

There comes a point when FFA will step in and take back the licence ... I still feel the separation of the club and the COE is a hurdle to hard...

At some point and that point needs to be soon we either get some capital or FFA will step in.. I am glad the relationship between GA & Harry is not the greatest as me thinks he may have received a tap on the shoulder...

Hopefully something will happen ... but as a potential investor if you sit back and just wait you could get the licence for free and move the club were you want...

 

[pjennings]

At the moment it looks like the only hurdle to new investment is turbulls conditions.

Do we know this? The articles I've seen that mention this come from the like of Cockerill who seems to be always wrong when it comes to the Mariners. How much is speculation - similar to forum talk - and how much is fact?

 

[Ancient Mariner]

Hopefully something will happen ... but as a potential investor if you sit back and just wait you could get the licence for free and move the club were you want...

From what I can gather PT wants a major investor but wants to keep control, for the reasons mentioned above one would think he would take what he can and move on rather than lose the lot.

Who knows? But if I wanted to buy the club I would be talking to the FFA, letting them know I will buy when they take over.

 

[MrCelery]

Please, please, please don't let it be another Club that folds under me. First it was Newcastle KB United, then the Newcastle Breakers. It is all sounding awfully familiar.

Who to follow if the Mariners go belly-up?

The thought of the only A-League Club in the neighbourhood being the bogan Jets fills me with horror.

Sydney FC? Too far to travel, and too dysfunctional for my taste. Cove are good though.

Move back north and jump on the Brisbane Roar bandwagon? Great football, can't stand the humidity.

Gold Coast United? You're having a laff!

Hoping for a miracle...

 

[MagpieMariner]

I wasn't interested in football until my daughter and son-in-law dragged me along to a couple of Mariners games. I enjoyed the games and became a fan and a member, mainly because the Mariners are local - I felt I belonged with them. If they go down (God forbid)I doubt that I will retain sufficient interest to follow someone else, certainly not our two closest neighbours. I pay attention to the scores of Newcastle (because of their colours) and the Birmingham teams (because my ancestors came from there) in the EPL but I couldn't be called a fan, there is no passion nor is there any real connection. That will be the same here, no Mariners, no connection, no real interest.

 

[shipwreck]

People are getting awfully pessimistic here....my advice is to stop the speculating, step back and enjoy the mariners TODAY!

 

[adz]

People are getting awfully pessimistic here....my advice is to stop the speculating, step back and enjoy the mariners TODAY!

Nice one ;D

Seems to be a regular thing lately. Story comes out about Mariners financial woes, a few people jump up and down about how the sky is falling, PT says we're in a bit of a hole but it's not as bad as people are making out, people jump up and down more and label PT a liar... rinse, repeat.

I hope we do get some sort of investment come in soon, just so I don't have to hear about it again!

 

[Roy Law]

Reading between the lines following Frank Lowy statements in the press I am not fearful of the Mariners' long term future. Although Lowy, quite rightly IMO, says the FFA should not prop up the clubs on a long term basis - they should stand on their own two feet - he emphasised that the Mariners try to live within their means and were not running up ludicrous debts of $5 to $7 mil (his words; which sounds like pointed reference to Sydney).
We'll be right!

 

[BaysideMariner]

Reading between the lines following Frank Lowy statements in the press I am not fearful of the Mariners' long term future. Although Lowy, quite rightly IMO, says the FFA should not prop up the clubs on a long term basis - they should stand on their own two feet - he emphasised that the Mariners try to live within their means and were not running up ludicrous debts of $5 to $7 mil (his words; which sounds like pointed reference to Sydney).
We'll be right!

 

[awaba]

i guess he is pointing to the revenue increase with the new media deal ... within six months shouldn't be too far out to hold on for, barring other capital coming in.

but also "living within their means" i think is key for teams in areas like ours. I'm not a fan of the salary cap for that reason. It holds back the bigger market teams from having a crack at Asia ultimately, but for us places unrealistic cost expectations for smaller clubs. I know other sports in Oz try and fit all teams into some 'equality for all' model, but i don't reckon it works for our league for a bunch of reasons.

already with marquees and ASAs there is an element of that... wage bills for MV and SFC for example. But are there other things they could cut back on were they allowed to? It could even be argued clubs should be allowed to drop below the minimum salary cap spend to stay afloat. Play the youth team and run 'at cost' before ever shutting a club down. They really should have done this with NQ imo.

 

[pjennings]

i guess he is pointing to the revenue increase with the new media deal ... within six months shouldn't be too far out to hold on for, barring other capital coming in.

but also "living within their means" i think is key for teams in areas like ours. I'm not a fan of the salary cap for that reason. It holds back the bigger market teams from having a crack at Asia ultimately, but for us places unrealistic cost expectations for smaller clubs. I know other sports in Oz try and fit all teams into some 'equality for all' model, but i don't reckon it works for our league for a bunch of reasons.

already with marquees and ASAs there is an element of that... wage bills for MV and SFC for example. But are there other things they could cut back on were they allowed to? It could even be argued clubs should be allowed to drop below the minimum salary cap spend to stay afloat. Play the youth team and run 'at cost' before ever shutting a club down. They really should have done this with NQ imo.

I think the salary cap is important. Otherwise we could have a very small league. How it is implemented though can be played with. i.e. The salary could be adjusted down if you had more youth in your team on a pro-rata basis.

 

[elevated position]

Sell Ryan in the January window and short term problem solved. We want to be known as a selling club for when the COE is up and running so good oportunity as he is saleable.

 

[cbowden9000]

Sell Ryan in the January window and short term problem solved. We want to be known as a selling club for when the COE is up and running so good oportunity as he is saleable.

I don't know where to start with this

 

[midfielder]

From the Roar today ... sounds good

http://www.theroar.com.au/2011/11/29/central-coast-mariners-short-on-cash-in-talks-with-investors/

Central Coast Mariners short on cash, in talks with investors

Central Coast Mariners have today confirmed that talks are underway with potential new investors in the A-League club, as the club struggles with “short-term cash flow difficulties”.

Chairman Peter Turnball said in a press release that the club needed to “replenish capital”, with ongoing talks with investors remaining Commercial in Confidence.

“We are renowned as the community club of the Hyundai A-League due to our engagement with the people of the Central Coast,” said Turnbull.

“I want to assure our members and our fans that the foundation principles that underpin our club are non-negotiable. Those very strengths are what have attracted the potential new investors.

“To continue the growth of the Mariners we need to replenish our capital and that’s what the talks aim to achieve.

“The Central Coast community is rightly proud of what the Mariners have built and this process is about making our house sustainable for the long-term.”

Turnbull said the club was on a “firm footing”.

“Our players and staff understand the situation and remain supportive of the club’s management

“We are working with the FFA and have a sound business model in place. Our long-term vision for a diversified business includes the Centre of Excellence, the first stage of which sees the Soccer5s complex having its first open day next Wednesday.

“Central Coast Mariners are in a good position. We are currently sitting second on A-League ladder and are about to enter our second stint in the AFC Champions League.

“I have no doubt Central Coast Mariners will go from strength to strength and with the investment of new capital we will only become a stronger force in Australian football,” Turnbull concluded.