An entity owned and controlled by a consortium of existing APL club investors OUT!!!!

[boz-monaut]

it's time to go "an entity owned and controlled by a consortium of existing APL club investors, who will operate the licence on an interim basis until a new investor is secured"

The Entity is a discrace.
Haven't won a game since The Entity been in charge.
Won't re-sign Griff.
Still sells mid strength piss.
Worst owner we've ever had and worst Entity we've ever had any association with.

Discuss:

[belchardo]

"The Entity" has a wonderfully malevolent I'm-going-to-destroy-the-world vibe to it.

[Ghost of Plague]

No Victory shaped hats.
No City shaped hats.
No Wanderers shaped hats.
No Red shaped hats.
No FC shaped hats.

As the last team in the door what ****ing hope do we have.
The entity has failed us.

Time to break free from this lot and form our own league.

[sammydog]

What jersey am I supposed to wear to the game on friday. Not sure if its Jets, Syd FC, WSW or Western United.

[boz-monaut]

"The Entity" has a wonderfully malevolent I'm-going-to-destroy-the-world vibe to it.

I'm so glad they used that word

all hail, The Entity!

[380]

What jersey am I supposed to wear to the game on friday. Not sure if its Jets, Syd FC, WSW or Western United.

If your looking to get a start with Carl at the Wanderers wear a Jets Jersey

[The Hacker]

Does this mean Laurie is gone

[turbojetfireV8]

I'll put this here especially for Couscous...



BREAKING
JANUARY 4 2021 - 2:35PM
Newcastle Jets owner Martin Lee stripped of franchise licence
Robert Dillon


MARTIN Lee has effectively been sacked as Newcastle Jets owner and the club will be taken over, for an interim period, by a consortium of other A-League investors.

Football Australia, in conjunction with Australian Professional Leagues, announced on Monday "the immediate termination of the A-League and Westfield W-League licence held by Newcastle Jets Club Pty Limited (ACN 602 270 664)".
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The statement said the termination was "based on the entity's failure to pay its debts as and when they were due, which placed it in material breach of the Club Participation Agreement".

It did not specify how much money the Jets owed.


The statement said a new licence would be issued "to an entity owned and controlled by a consortium of existing APL club investors, who will operate the licence on an interim basis until a new investor is secured. The Newcastle Jets will continue to participate in APL competitions and current players of the Newcastle Jets will be offered contracts with the new entity."

Football Australia CEO James Johnson said Lee had "been given every opportunity to rectify the club's financial situation and continue as the owner and operator of the licence or to sell the club to another investor.

"The company's concurrent financial position however, left no other choice but to terminate the licence."

IN OTHER NEWS:

Jets CEO Lawrie McKinna revealed recently that Lee had not "put one penny into the club" since October 2019.

Lee bought the Jets four years ago and is estimated to have invested $15 million in the club, including a licence fee of around $5 million.

But the Chinese businessman encountered unforeseen financial difficulties and has been trying to seel the Jets for the past two years.

Johnson said there were "clear failings to adequately capitalise Newcastle Jets FC to meet the minimum requirements set to run an A-League and Westfield W-League club, and to operate a company in accordance with Australian law".

He described Newcastle and Northern NSW as a "heartland of Australian football".

MORE ON THE JETS:

W-League: Jets 'disappointed' to miss points first up against Wanderers
Sporting Declaration: A little clarity from Football Australia might go a long way
Newcastle Jets ready to strike a blow
The APL - formed from a collective of club owners - formally took over running the A-League last Thursday when Football Australia announced the "unbundling" of its professional competitions.

APL head Paul Lederer, who also owns Western Sydney Wanderers, insisted at last week's announcement that the Jets were a crucial part of the competition who would be part of the A-League "hopefully forever".

APL Commissioner, Mr Greg O'Rourke, said the APL takeover was "an ideal outcome" for the Jets and the code.

"Newcastle is a vibrant footballing region with a long and proud history in the game and we are delighted that the Newcastle Jets will continue to participate in the APL," he said.

It will be the fourth change of ownership in the Jets' history, after the club was previously bankrolled by Con Constantine, Nathan Tinkler, and, briefly, the governing body.

[anfield]

Does this mean Laurie is gone

That's my question, what's happening with Lawrie given there is a new Executive Chairman Shane Mattiske? I'm guessing Lawrie is either gone or possibly moved into another position as they wouldn't be putting this guy forward given his CV to do a minor role

[mic22]

I like The Entity too.
Can we also rename the stadium to something like... dunno... Death Star?

[belchardo]

I like The Entity too.
Can we also rename the stadium to something like... dunno... Death Star?

Too direct. Would need to be something like "the laundry"

[Hutcho]

"The Entity" has a wonderfully malevolent I'm-going-to-destroy-the-world vibe to it.
Gary "The entity" Van Egmond

[380]

GVE as coach, Bloke is hoping for more comebacks than Farnsey

[Jetmaster]

That's my question, what's happening with Lawrie given there is a new Executive Chairman Shane Mattiske? I'm guessing Lawrie is either gone or possibly moved into another position as they wouldn't be putting this guy forward given his CV to do a minor role

I'm guessing people don't have Herald subs....


The new owners moved quickly to appoint Shane Mattiske, a former NRL general manager of strategic projects who in 2012 was acting CEO for the 13-man code, as executive chairman.

"It's not a short-term commitment," Mattiske said.

"Now that they [APL] have made this commitment, they can put the club in a position where, in time, they can start to look at whether there are interested parties who would like to become involved in ownership of the club moving forward.

"The first thing was just making sure the club is secure, and that's what has happened today ... we do understand that there are interested parties.

"But the immediate focus was making sure that the cloud surrounding the club's future was removed. That's happened, and it's a very positive step."

He said the consortium intended to invest in the club "and make sure it has the resources it needs to succeed".

APL are eager to retain incumbent CEO McKinna, although his situation is understood to be complicated because he was a director of the company Lee formed to buy the Jets.

"We'd love to have Lawrie involved," Mattiske said.

Mattiske said APL recognised that the Jets had "untapped potential" and were confident the Novocastrian faithful would rally behind their team.

"There is no question that the future success of the Jets will rely heavily on the support of the local community and I look forward to working closely with the many passionate supporters of this great club," he said.

"The club needs all its supporters to stand up and strongly get behind their team. We thank all those that have supported the club through the recent period of uncertainty."

[Ghost of Plague]

We'd love to have Lawrie involved bahahahahahahahahahahahahahahahahahahahah.

I'd really love to see you again trash chick I picked up when the ugly lights hit at Fanny's.

I'd really love to donate to your charity just lemme hit you back later on with my card details.

Jesus some of you people.

They dont want him.The statement to the herald is just to give him a soothing pat on the way out the door.

[Jetmaster]

I'd really love to see you again trash chick I picked up when the ugly lights hit at Fanny's.

Just had a horrible 1980's flashback...

[The Dunster]

So basically we are owned by the entity which is headed by the owner of the club that's stealing our best players.

How could that possibly go wrong?

[belchardo]

So basically we are owned by The Entity which is headed by the owner of the club that's stealing our best players.

How could that possibly go wrong?

Fixed that for you.

[Alton]

Settkle down all, this is move is exciting.

[The Dunster]

Fixed that for you.

:lulzturtle:

[Thomas477]

I’d love to know why Lawrie was a director of the previous owning company.

[Jetmaster]

I’d love to know why Lawrie was a director of the previous owning company.

Easier to setup a company with an Australian resident. It isn't unusual.

[380]

I’d love to know why Lawrie was a director of the previous owning company.

Probs for no other reason than to be a signature if and when required on pieces of paper in the absence of an o/seas overlord.

[gussie_l]

How does this work now with the consortium "taking" the licence. They are also taking and owning the debt too, yes? The FA/APL have some right to take it back but not all of the APL took it. Only three club took it on. So they get it for so called "free" but they are taking on the financial risk surely (own the debt now).

I assume the people owed money by the Jets will get a bit more interested in getting their money back sooner now knowing we have deep pocketed consortium owners. Wonder what the terms are there.

The consortium will now wanna turn this ship around pretty quickly so it's not racking up any further debt and they are losing..... not sure how much debt we were accruing over time, it'd have to be some if money coming in was less than money going out ....... that is, expect some biggish changes soon as they indicated not wanting to own it for long and need to make it viable to resell, how much and hard will they go to repeg back some value?

[The Hacker]

We'd love to have Lawrie involved bahahahahahahahahahahahahahahahahahahahah.

I'd really love to see you again trash chick I picked up when the ugly lights hit at Fanny's.

I'd really love to donate to your charity just lemme hit you back later on with my card details.

Jesus some of you people.

They dont want him.The statement to the herald is just to give him a soothing pat on the way out the door.

I miss Fanny’s

[StannyCFCJET]

From what I saw on twitter a few weeks back which was deleted, Lawrie has been using his own money to keep the club afloat.

[baldrick]

"The Entity" has a wonderfully malevolent I'm-going-to-destroy-the-world vibe to it.


We’re in the poop

https://youtu.be/YxPabRn_NY4

[380]

NBN had the new Executive Chairman on, Sure he made reference to strengthening on the field and maybe a announcement some time next week. Better be a good #10 or we can start a " Mattiske Out " thread.

As for your question Gussie the three owners of the other clubs now have responsibility to service any debts. If they are fair dinkum with the club and us they will look to recoup there out of pocket expenses plus a very marginal amount to cover there time and effort. Bit like a mates rates cost plus 10%. All depends now on the three and there expectation in regards to price.

If the debt that required servicing was less than the reported figure Gerry Ryan was reported to have made twice over then you would think with Shane Mattiske's time at the NRL and developed relationship with Ryan that phone call would have been made in the first instant to see if he still has a interest and facilitate a quick change of ownership at a value much less than what Lee was holding out for.

I think i read the ATO was owed a considerable amount, I reckon there is every chance that debt could be serviced by a payment plan also and the balance of that debt probably having a bearing on the value put on the club for these other club owners to re-sell.

[Pico]

I don't believe The Entity will be responsible for the debt, they took over the club license only, after it was removed from Lee's company, Lee's company still exists and they would be his debts. The club participation agreement / license is the only thing of any value, it's the reason the club's wanted an independent league, ironically so the FA couldn't do exactly what they just did to Lee.

If it's true that Lawrie was a director, I imagine he'll be on the hook for debts too and liable for any claims regarding trading while insolvent as well, not to mention the typical ASIC punishment regarding being eligible for holding a similar position with any other company for a set period, usually years.

[turbojetfireV8]

https://www.smh.com.au/sport/soccer/real-potential-ex-nrl-boss-sees-blue-skies-ahead-for-jets-a-league-20210105-p56rx4.html


'Real potential': Ex-NRL boss sees blue skies ahead for Jets, A-League
Vince Rugari
By Vince Rugari
January 5, 2021 — 7.45pm
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Former NRL executive Shane Mattiske can see "real potential" ready to be unlocked in both the Newcastle Jets - the struggling club he has been tasked with nursing back to full health - and the A-League overall.

Highly-respected sports administrator Mattiske was on Monday appointed as the executive chairman of the Newcastle Jets, who have been bought out by a consortium of rival club owners after the club's licence was stripped off Chinese businessman Martin Lee.

Former NRL boss Shane Mattiske is the new executive chairman of the Newcastle Jets.
Former NRL boss Shane Mattiske is the new executive chairman of the Newcastle Jets.CREDIT:GETTY

Best known for his 15-year stint in rugby league - which included a six-month period as interim NRL chief executive after the resignation of David Gallop - Mattiske has, in more recent years, worked as a broadcast rights advisor for Nielsen Sports and Rugby Australia, and helped negotiate Football Australia's previous six-year deal with Fox Sports in 2016.

Lured into football by former colleague Danny Townsend, the chief executive of Sydney FC, Mattiske believes there are blue skies ahead for the A-League, which has struggled off the field for several years but is now being run by a club-controlled entity called Australian Professional Leagues after being officially 'unbundled' from Football Australia.

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"There's winds of change blowing and the A-League is well positioned," Mattiske said. "It's similar to Newcastle [Jets] in a way - it's got all the right fundamentals [to succeed] and there are now significant structural changes that are going to support growth.

"I think there is a strong future. It will rely heavily on the commitment of the fans and the broader community and that is critical.

"Nothing's assured - we need people to stand up and get behind the competition, but it has real potential and these changes are going to help us unlock that potential."

A consortium led by the owners of Sydney FC, Western Sydney and Western United have pooled funds together to save the Jets from oblivion, with Mattiske chosen to spearhead the club's rehabilitation.

FIFA and AFC statutes prohibit any one person from controlling or influencing more than one club in a competition for integrity reasons, but a Football Australia spokesperson told the Herald the arrangement was "compliant" with those rules, adding: "No one person has decisive influence in more than one club in our league."

Mattiske was confident that conflicts of interest involving the Sky Blues, Wanderers and Western United could be managed with the right governance and management frameworks.

The Newcastle Jets made a grand final in 2017 but have endured a difficult few years since, on and off the field.
The Newcastle Jets made a grand final in 2017 but have endured a difficult few years since, on and off the field. CREDIT:GETTY

"The governance of the club is going to be really important. It's why there is an independent chair in place, and we will look to bring on independent directors who have got a connection into the Newcastle and broader region," he said.

"We will put in place structures - and we're already putting those in place - around matters like player recruitment and football decisions so that there aren't conflicts that occur because of the higher-level ownership interest. We're aware of all that ... I don't see it as an issue moving forward."

Mattiske stressed that the consortium in place should not be seen merely as "interim owners" but businesspeople who have made a serious commitment towards the club and the region.

Their plan is to re-engage with the Hunter community, find and secure locally-based investors, and then gradually hand the Jets over to a new ownership group.

"We're in a position where we can move in stages. We've got time and we'll take time," Mattiske said.

The Jets play their first home game on Friday night against the Wanderers and are offering $10 tickets for adults and $5 for juniors in recognition of the club's "fresh start".

Mattiske was non-committal on whether a permanent coach would be appointed to replace caretaker boss Craig Deans, who sources say has strong support from the playing group. Gary van Egmond, who has served as Jets coach in two separate stints, has already been linked to the job.

Arthur Papas, an assistant coach to Ange Postecoglou at Yokohama F. Marinos who is regarded as one of Australia's brightest young tacticians, had been lined up to coach the Jets in the event of a successful ownership takeover last year. However, the uncertainty surrounding the club prompted him to look at other options and he has since been appointed as the head coach of third-tier Japanese side Kagoshima United.

The Jets have racked up several million dollars in debt over the past 18 months but Mattiske said the club was now being run by a new and entirely separate corporate entity, and that previous liabilities were being addressed by Lee.

"Martin Lee is the owner of the old entity and Martin Lee is working through that at the moment, from our understanding," he said.

As for Lee's chief executive Lawrie McKinna, Mattiske said he had "great respect" for the job he had performed under difficult circumstances and wants him to be a part of the club going forward.

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McKinna, who was a director of the previous company that held the Jets' licence, did not return calls from the Herald on Tuesday.

[gussie_l]

Cheers for those replies/info 380/PICO/turbojetfireV8.

From the article it's as you said Pico.

The Jets have racked up several million dollars in debt over the past 18 months but Mattiske said the club was now being run by a new and entirely separate corporate entity, and that previous liabilities were being addressed by Lee.

"Martin Lee is the owner of the old entity and Martin Lee is working through that at the moment, from our understanding," he said.

I then think that the risk for those three owners is definitely reduced and maybe the "free" purchase is a bit more enticing, but they'll need to turn it around quick. A bit sad for those owed money. The conflict of interest thing is "interesting". For now, as "a tragic supporter" its good to see that there is support to keep us in the league / licence is staying in Newie.

[Jeterpool]

Cheers for those replies/info 380/PICO/turbojetfireV8.

From the article it's as you said Pico.

The Jets have racked up several million dollars in debt over the past 18 months but Mattiske said the club was now being run by a new and entirely separate corporate entity, and that previous liabilities were being addressed by Lee.

"Martin Lee is the owner of the old entity and Martin Lee is working through that at the moment, from our understanding," he said.

I then think that the risk for those three owners is definitely reduced and maybe the "free" purchase is a bit more enticing, but they'll need to turn it around quick. A bit sad for those owed money. The conflict of interest thing is "interesting". For now, as "a tragic supporter" its good to see that there is support to keep us in the league / licence is staying in Newie.

You've got to feel for those entities owed money...what's the bet there are entities owed money under Tinkler, probably Con too.

Might make them less likely to want to do business with the club again.

[Ghost of Plague]

From what I saw on twitter a few weeks back which was deleted, Lawrie has been using his own money to keep the club afloat.

I heard he saved a puppy from drowning recently too.
What a guy.
Keys to the city etc etc etc.

[Jeterpool]

From what I saw on twitter a few weeks back which was deleted, Lawrie has been using his own money to keep the club afloat.

If true, this for me is above an beyond what would be expected. I wonder how many would be willing to do this if they were in a similar position.

[StannyCFCJET]

I heard he saved a puppy from drowning recently too.
What a guy.
Keys to the city etc etc etc.

Your boring. Bring back plauge

[StannyCFCJET]

If true, this for me is above an beyond what would be expected. I wonder how many would be willing to do this if they were in a similar position.

Agree. Gives him close to newy legend status

[Ghost of Plague]

Your boring. Bring back plauge

I read on twitter, but its since been deleted, that Lawrie dug plague put of the grave and used magic spells to bring him back to life all on his own.
Big if true.
Also, if his name is on the rego tags for the operating company, its technically his money in some way shape or form.
Stop being suckers falling for the shit he and his media mates feed you.

He was in charge, the business failed. Therefore he failed.
And that's OK. We are allowed to fail in life, its part of the process. If you listened to him in that infamous luncheon speech he should take his own advice, admit it failed and walk away.
If hes such a fantastic awesome smart bloke there will be a line out the door for his services. He should walk, start fresh somewhere else and free himself from all this.
I'd be the first to wish him well on the journey.
But he ain't the answer to our problems.

[gussie_l]

You've got to feel for those entities owed money...what's the bet there are entities owed money under Tinkler, probably Con too.

Might make them less likely to want to do business with the club again.

I agree.

It is interesting how this plays out now. How much had Lawrie and co. sharpened up the balance sheet to date and how much sharpening is still required to make us viable. I suspect quite a bit more of the later. What does this further "sharpening" / "improvements" look like? Time will tell as it feels like they want to get us sellable sooner rather than later. Never a dull moment at the Jets.

[Jetmaster]

But he ain't the answer to our problems.

TBF - he ain't the cause of all of them either.

[Ghost of Plague]

TBF - he ain't the cause of all of them either.

Agree. And its a point that shouldn't be glossed over.
Lee is at fault here, in the same way Tinkler and Con were before him. They are at the top of the tree.
My bigger point is that if he couldn't fix the problem, he should have walked, or Lee should have walked him.
The stagnating from all parties got us here.
Remember, it was decisive action from THE ENTITY that has given us hope. Not the ceo or owner.
Put your faith in them, not the ones who led us here.

[belchardo]

Has The Entity made any announcements or changes since the first week or two? We are absolutely honkingly bad on the field and I haven't heard anything from them.

Not being in newy, it's hard to tell so I'm hoping I just haven't heard about things they are doing.

[The Dunster]

You are up to date.

[380]

Fold the club

[furns]

Check the Jets FB page
They are doing their own AMA's now
Shane Mattiske did one last week, its Deansy this week