Storm for sale

[Drac]

http://www.afr.com/p/lifestyle/sport/ne ... QjaCvV9l7O

interest from potential buyers was proof the club’s business model was sustainable in the long term and that it was moving closer to break-even status.

let this put to rest the notion from throwball posters in this forum that the Storm is currently profitable.

News will have to tip in an estimated $2 million this year to balance the Storm’s books, but the figure is at least $4 million to $6 million less than three season ago.

=D> =D> =D> There you have it, proof positive that News have been propping up the Storm for years.

[Stewie]

Why would a company wish to buy the Storm and lose millions each year from it?

I guess this is the end of the Storms domination on field, no longer will they be able to spend so much in their football dept.

[adamj1300]

Penrith is aiming to be profitable for the first time by 2015 as more money flows to clubs.

Souths, privately owned by actor Russell Crowe and businessman Peter Holmes a Court, is budgeting for a $1.3 million net profit this year, according to CEO Shane Richardson.

It would make Souths one of only two NRL clubs, along with the Australian Securities Exchange-listed Brisbane Broncos, to be profitable. =D> =D> =D>
a total embarrassment, so apart from south, every other NSW based club runs at a loss, in a state with Australia biggest corporate market & audience

[Stewie]

Penrif is aiming to be profitable for the first time by 2015? I thought Raiderdave said all nRL clubs will make a profit in 2013?

Another lie... exposed.

[adamj1300]

Penrif is aiming to be profitable for the first time by 2015? I thought Raiderdave said all nRL clubs will make a profit in 2013?

Another lie... exposed.

maybe the pokie departments might, the bit that pays the shortfall of the football department

[Xman]

The storm have been experiencing a long term purple patch yet are still losing 2 million per year.

Whoever buys them must be prepared to lose far more money when they eventually miss the finals.

[Raiderdave]

this coming from fans of a comp .. where 14 clubs are about 90 Million in the hole

oh wow
the pastry shop is gone ... who took it ?

[Xman]

this coming from fans of a comp .. where 14 clubs are about 90 Million in the hole

oh wow
the pastry shop is gone ... who took it ?

A mortgage is a hole now......

Storm, not viable even when they're outrageously successful.

Oh dear....good luck NRL expansion

[Striker]

The past debts are around the salary cap breach. We're still recovering from that in club treasury. Then there are the other restrictions that I have previously mentioned. But we're getting there, and now is the time for News Limited to go because it was really them who caused the salary cap breach in the first place. I'll be glad to get a new owner, maybe someone who can take it to our enemies like News Limited wouldn't due to it's commitments to the media resulting in a return to Etihad and putting the brakes on Doyle's histrionics amongst other shit.

[adamj1300]

The past debts are around the salary cap breach. We're still recovering from that in club treasury. Then there are the other restrictions that I have previously mentioned. But we're getting there, and now is the time for News Limited to go because it was really them who caused the salary cap breach in the first place. I'll be glad to get a new owner, maybe someone who can take it to our enemies like News Limited wouldn't due to it's commitments to the media resulting in a return to Etihad and putting the brakes on Doyle's histrionics amongst other shit.

it was the clubs administrates who let the salary cap breaches happen, they signed off on the contracts!
if it wasn't for the money, the storm wold of folded years ago, they have pumped millions in to the club for years giving it a lifeline.
if it want for news limited giving the storm so much exposure its the papers, even less people would care about the storm than who already do.

who in their right mind pay money, millions of $ for a dud franchise, that looses millions during a time when the club is going through a purple patch in a city that, a very select few, to no one could care about, mmm,
even news limited have seen he light! im quit looking forward to the day when i dont have to skip past 4 pages of crap written up on the storm when trying to read the paper

[Drac]

The past debts are around the salary cap breach. We're still recovering from that in club treasury.

Yes that boost in memberships and attendances around the time of the salary cap must have really hurt. The fine was only $1.7 million. You just won a premiership. Your debts go well beyond the Salary cap scandal.

But we're getting there, and now is the time for News Limited to go because it was really them who caused the salary cap breach in the first place.

lol, wut?

I'll be glad to get a new owner, maybe someone who can take it to our enemies like News Limited wouldn't due to it's commitments to the media resulting in a return to Etihad and putting the brakes on Doyle's histrionics amongst other shit.

Enemies? What enemies? The worldwide doctor conspiracy?

[Xman]

The past debts are around the salary cap breach. We're still recovering from that in club treasury. Then there are the other restrictions that I have previously mentioned. But we're getting there, and now is the time for News Limited to go because it was really them who caused the salary cap breach in the first place. I'll be glad to get a new owner, maybe someone who can take it to our enemies like News Limited wouldn't due to it's commitments to the media resulting in a return to Etihad and putting the brakes on Doyle's histrionics amongst other shit.

Whats past debt got to do with it?

The storm lose money every year. Without an owner who is prepared to cop that loss theyre stuffed. News had a motive for taking this loss. A new owner probably won't.