Hearing Perth has already found a new owner already.
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Hearing Perth has already found a new owner already.
Looks like the Perth ownership is all sorted.
It really irks me that we can't attract enough interest to complete a sale of the Jets.
I know Newcastle isn't a Capital city but their is so much population growth in the Hunter Valley.
Maitland, Thornton, Cameron Park, Gillieston Heights, Lochinvar, Huntlee etc are adding so many new houses these days.
We just always seem to miss out when it comes to attracting someone with the money and the interest !
Obviously asking too much
I imagine it's also tough getting the four owners over the line. No doubt they all have slightly different ideas about what they want.
Not very business minded, but I don?t understand why they don?t all say we?ve each put in x amount into this black hole, let?s just sell for 4x.Quote:
Originally Posted by belchardo
Surely they haven?t invested more than a new license?.and if they have then we are doomed.
They should be using the knights crowds to trick somebody. Loyal supporter base - wooden spoons and still capable of big crowds, bit of success and selling out.
Surely a sale to exit even or even take a small hit is worth it to take it off their hands. Especially if they aren?t investing in making it better on the pitch.
I assume they don't want to devalue their own product while they're trying to get canberra/Auckland wrapped up.
Was it tinkler that cracked the shits when he found out somebody else had paid less for a licence than he had?
And I definitely don't have a business brain either.
Perhaps what the league should do is offer a prospective buyer some special concessions, maybe a higher cap for the first 12-24mths to allow them to spend on re-building the team, something to make it more attractive to take us on?
It was...he found out what Clive paid. He handed the licence back and had the ans protesting outside the stadium.Quote:
Originally Posted by belchardo
Exactly, they not only aint taking a hit on their share of the Jets, but any fire sale devalues the other clubs they already own.Quote:
Originally Posted by belchardo
If the sticker price is $25m for the new licences then the Jets number has to be close to that. No doubt it wont be all cash but there will be other financial gymnastics done to 'value' the club at the highest possible number.
Again, they need investors who have $25m to burn, because theyll be burning plenty more on the way to their ultimate goal which is getting the club valuations rising in line with other sporting franchises around the world. Clubs wont make a cent along the way, but in 10-15 years time they are worth $100m+ then they win.
Still no idea why they havent created a bidding war with the middle eastern soveriegn funds. Morals be damned it changes everything and sets us on a path to a real league (gets rid of salary caps, player caps etc that has always held us back).
Except the gypos, theyll always be poor, because they are gypos.
Hail Griff.
I wonder if an AFL type draft would benefit the compQuote:
Originally Posted by turbojetfireV8
No, it wouldnt. Too many options elsewhere for any half decent prospect to commit themselves to what is quite possibly an illegal labour issue anyway.Quote:
Originally Posted by My2BobsWorth
It works in AFL/NFL because where else are they gonna go (and its collectively bargained).
Id be shocked if the NBA isnt the first big sport to challenge its legititimacy in court eventually.
Having said that, you've just had more fresh ideas than anyone at Double -eff aye headquarters in the last 10 years and im voting for you to take over Townsends job (and pay cheque).
How about we just **** off the salary cap all together
It worked in the first three years of the comp. But the second they brought in the Olyroo Marquee BS to get the Smurfs under the cap it's been a complete farce
All it does now is force us to spend large amounts of money on blokes like Hoffman and Burhagiar and Jacob Melling to make the minimum spends
All it is doing is overpaying the poor players in the league
All for the likes of Griff and Penha making the big money but these types who fill in squads shouldn't be on 100k plus a year
Is there anyone out there?
The cynic in me reads that as this.
The clubs current ownership feel now is the right time to formally put the club up for sale as they feel they have got it in a place that makes it an attractive purchase.
Nothing about a particular interested party and that only they have recruited the assistance of Korda's to facilitate a sale.
Am I reading this all wrong ???.
That's how I've read it. Except we know it's always been "For Sale"
We've tried to see privately ourselves and that's not really worked so now we're bringing in an agent to do it for us.
About ****ing time.
Yep exactly how i seen it.Quote:
Originally Posted by Jeterpool
They have not been able to facilitate a sale to there satisfaction and are fed up with bleeding money into the club. It was rumored just weeks out from the season starting that Western had had a gutful of the situation and Smurfs reigning in there financial support.
My tip is Korda's have been given a timeline to get a deal over the line with the best offer that comes in in that given time frame. Clearly there is a enough is enough mentality and whatever shortfall if any there is between what these other club owners have put in and what the club sells for will be reimbursed from the sale of any new licenses.
I find the statement to be heavy in corporate speak and rather deliberately ambiguous if I'm to be honest.
And that's how we've been treated for a long time too. It gives wiggle-room and no commitment.Quote:
Originally Posted by 380
By comparison, Perth's process from Sage exit to new owners took 3 months once Korda were appointed Administrators.
Seems the plan is to have the club sold by Christmas which if that's true makes you wonder why they didn't bring in someone like this years ago.
That timeframe is really good though, fingers crossed it means we can fill in some gaps in the squad during the transfer window, based on the game yesterday we're gonna need a new CB ASAP or we can kiss this season goodbye.
Because doing it by XMas is ****ing us over for this seasonQuote:
Originally Posted by Mark325
We could get some Saudis take over wanting to bring us Mbappe and Haaland and spending up big and we be stuck with the likes of Hoff and Burhagiar for another 12 months
This will definitely increase the chances of a sale.
Potential new owners will only have to deal with the appointed firm to agree a sale.
We have always been for sale.
Previous negotiations were unprofessionally handled by the club which contributed to no deals getting over the line.
I highly doubt we will have new owners by Christmas as these things take time.
Unless this firm has already done due diligence with other interested parties from the selling of Perth.
I guess its possible this firm approached the Jets and said we have interested parties who missed out on Perth.
If you give us the opportunity for this sale we are confident we can get you a new owner !
What a rubbish announcement.Quote:
Originally Posted by My2BobsWorth
No owner lined up it seems.
No new news.
Edit: rubbish from the perspective that we were here reading into it. No black and white facts. Just the usual ambiguous release.
Only promising thing is this Korda mob seemed to expedite the Perth sale.
I can’t see us becoming a Saudi play thing.
Should make a play for Newcastle United’s EPL owners to buy us. We already have scope to give them a green kit.
There's been rumours of unrealistic numbers being asked for to part with the licence.
If that's the case, outsourcing the process could be beneficial in managing expectations.
Iv'e heard 25mil is the price from many different sourcesQuote:
Originally Posted by Jeterpool
Newcastle Herald today:
Quote:
A-League soccer, 2023: New sellers KordaMentha strong interest in Jets
By James Gardiner
October 25 2023 - 8:03pm
The company charged with selling the Newcastle Jets has received strong "interest" from potential buyers.
The Jets announced on Monday that financial advisory firm KordaMentha had taken over the sale of the franchise, with the aim to have a deal finalised by Christmas.
"We announced it [Monday] and the level of inbound inquiry has been significant from good-profile companies who have the financial capabilities and motivation to complete," KordaMentha lead partner Scott Langdon told Australian Community Media.
"We've had interest from people with local ties to the Newcastle community to Australians to the global stage so I don't think there is any shortage in buyers for the franchises."
We've had interest from people with local ties to the Newcastle community to Australians to the global stage.
- KordaMentha partner Scott Langdon
Four owners of rival clubs have been bankrolling the Jets since Chinese businessman Martin Lee had his licence stripped in January, 2021.
KordaMentha last week brokered the sale of Perth Glory, who had gone into administration in July, to Melbourne property moguls Robert Brij and John Nekic.
That transfer followed confirmation that American billionaire Bill Foley had secured the licence for an Auckland franchise, due to enter the competition next season.
Australian Professional Leagues (APL), who run the A-League, also hope to expand the competition to Canberra.
A-Leagues commissioner Nick Garcia told Australian Community Media he hoped to have a Canberra owner in place early in December to give the club time to prepare for the transfer window opening in January.
Langdon said having the Jets on the market would help generate interest in the A-League and benefit the Canberra bid.
"I don't think there'll be any negativity, if anything it'll only enhance the prospects of Canberra getting a licence," he said. "You look at the Perth licence last week, there's an Auckland licence that's also been announced and we're running a sales process in terms of the Newcastle Jets."
While the APL declined to comment on how the Jets sale might impact Canberra, it's believed the capital's search for an owner was progressing well.
Langdon felt the Matildas' stunning World Cup run in Australia earlier in the year was still generating interest in soccer.
"I think [the A-League is] on a really positive trajectory. I think that's the rationale," Langdon said. "The momentum behind the Matildas in 2023 - that's what we're all going to remember 2023 for, is the wave of energy and support for the Matildas - and I think there's just a strong trend towards soccer in Australia. "Their participation numbers stand up on their own two feet - it's the highest football code played by Australians under 35 and that's seriously impressive and a good trend."
https://www.soccerscene.com.au/korda...rm-investment/
Quote:
KordaMentha Partner Scott Langdon on why the Newcastle Jets need long-term investment
Alex Bagdasarian
11 hours ago
McDonald Jones Stadium - Newcastle Jets
Image credit: Grant Sproule
The sale of Newcastle Jets has been announced by the club’s Executive Chairman Shane Mattiske, where they have appointed professional services firm KordaMentha to oversee the formal process.
A consortium of parties formed in 2021 that was linked to other A-League clubs was initially started as a provisional measure to maintain the Club, to put out a team that could compete and strong growth during a challenging period for the Jets in the middle of the Covid crisis back in January 2021.
KordaMentha is an independent and reliable firm providing their knowledge on cybersecurity, forensic, financial crime, performance improvement, real estate and restructuring services across the Asia-Pacific region.
Fast forward to now, the owners of today have been responsible for the successes of the increasing membership signups, captivating more sponsors and developing a strong core of talent through the Youth Academy.`
KordaMentha Partner Scott Langdon spoke to Soccerscene – providing an insight of his involvement in the sale process, what he hopes to achieve for the club and the A-Leagues as well.
“The shareholders reached out to us a few weeks ago in relation into commencing a sale of the club – they considered at the time to put Newcastle Jets on the market and find a long-term owner, for someone that won’t be there for a short period of time,” he said.
“The current shareholders didn’t have the intention of being there long-term, so we need to be there for Newcastle to get them through a challenging period.
“Shane has done a great job in getting the club as a business back on its feet – it’s now in a position where it’s stabilised and it’s time for a long-term owner in a natural progression stage for the club.”
Langdon explained what he sees in Newcastle and why should someone should get behind them, tapping into the unique area they represent.
“In the last couple of weeks that l have been involved, it has been overwhelming, for the local community and the region that Newcastle has and the support for them,” he said.
“l think that whilst we are looking globally to find an owner and we are having conversations with people throughout the world, there is a great ability to connect within the Newcastle region which is a very passionate soccer region.”
“The strong local links to the community is another key reason why we’re involved, and it’s an exciting opportunity to be part of the process.”
As recently seen with Perth Glory and their new Australian consortium owners Primeland Group signing the contract, Langdon shared whether KordaMentha is looking for someone within Australia or abroad.
“We are definitely looking on a global stage for a long-term owner – we have attracted interest within our first 48 hours from around the globe,” he said.
“We are all focused on completing it by Christmas which we think is entirely achievable.”
Newcastle Jets now has highly competitive men’s and women’s A-League teams, underpinned by a strong academy containing 13 boys’ and girls’ teams delivering exciting talent into these squads.
It is now a key time for the club to follow suit with what has gone ahead at Perth Glory, to lock in a sustainable future.
What’s our longest ownership been?
Con - 2000 to 2010Quote:
Originally Posted by Bremsstrahlung
Why isn?t NNSW assisting in the sale of the club ( apologies if they silently are) surely it is in their best interest to have a team in a professional league team within their boundaries, a pinnacle for their development players to aspire to. Yes they act on behalf of members and provide what they do for them but I?d dare say a very high majority of their members would appreciate whatever can be done to keep a licence in Newey
If this Korda Mentha group find us an owner in the next two months then I think that has some blatantly obvious questions that needs answering
1 What the **** was the last guy doing trying to get us sold ??
FFS they found an owner for Glory in a week or two and haven't been able to find us one in 3 years
2 Have the 4 clubs propping us up intentionally been white anting us from within by forcing us to play with the shit players we have been given to give their clubs a competitive advantage over a rival team??
Reading the articles and reading between the lines, they’ll have us believe that the club has been “low key for sale” the entire time. But over this period they have been trying to get our books in order and have everything lined up to make us look more attractive on paper (e.g memberships, sponsorships, youth teams, women’s team). And to maximise their profit.
Again, they’ll have us believe we were in a shambles compared to Perth.
I don’t think they have ‘intentionally’ been making us play with a non competitive team. A large portion of fan base wanted Pappas and they gave him a crack, to no avail. Saying that, I don’t think we’ve had the budget or pull to bring good players in. But that’s half lack of $$$ and half because of the position we are in. I think it’s probably more from a tight arse perspective of our sugar daddies not wanting to put in more money than they already have. It would make sense for them to dump some cash, make us win the comp, sell that to prospective owners. I don’t think they have too much to gain long term out of making us shit.
From the outside, they’ve definitely done a poor job of selling us. But must be tricky to find some rich people willing to dump some cash for no reward or personal gain post covid. Think they underestimated the task when they took us over. The broadcast moneys and benefit of keeping us in the comp when they saved us, is definitely starting to be outweighed by the risk/prospect of losing money. I think that’s why they are trying to quick sell us.
Is it unreasonable to expect updates on how the process is going
With any any investment you get to a stage where your ROI ( return on investment ) becomes questionable then it becomes a case of off load at the earliest convenience. IMO the owners have themselves at this stage.Quote:
Originally Posted by Bremsstrahlung
I have always maintained there was a magic figure that the other owners were to put in with those monies returned by way of directly selling the club and making a profit or those other club owners would be be reimbursed for there expenses from the sale of any new license(s).
With all the talk now about two new licenses being sold i reckon the clubs owners are comfortable that either way by Christmas at worst they will have broken even.
Yes.....it's a business sale and NDA's and confidentiality agreements apply.Quote:
Originally Posted by Alton
Buddy at the Herald told me the Herald have a story on ice about bullying in the youth ranks because of the CEO told them any bad news stops the sale. Herald told to keep quiet or no future exclusives. Herald agreed to not run the story until club sold and then front page.
WTF
Surprised it took this long to get out. The hierarchy are just trying to save their jobs.Quote:
Originally Posted by The Bear
Wait? You think this is a bad look for the Jets?Quote:
Originally Posted by The Bear
Maybe talk to your buddy at the Herald and ask why the journalistic standards in the place are so low they are shit scared by an organisation as toothless and pathetic as the Newcastle Jets.
I get that this is how the media works (another example of Trump being right), but by god what a lame bogeyman to brag to your mates about.
"Oooohhhh no if we sell out and are nice to the Jets we may get exclusive access to the latest cut price NPL level nobody they signed".
Newcastle media died with Ray Dineen.
Shameful.
Unless of course its a made up story and youre trolling. Which, meh, whatever.
Cheers,
plague.
Front page, what a joke. There is bullying in every organisation, and even this forum. I have been bullied by the sheep quiz gang for many years, headed by the standover man pv4, but the thing is, bullies are usually stupid. The Herald is a nothing newspaper these days
Simon Hill reported that a couple of consortium's are inspecting the club this week on his SEN show. Deal could be finalised but not announced by Christmas.
Christmas of what year? 3023?Quote:
Originally Posted by belchardo