Insert Name Here aka The Ownership Thread

[hawk]

jets fans cheap white goods?

[belchardo]

Do they impact on youth?

could a Chinese ownership essentially send 13yr old kids over, and have them work through the academies, get citizenship after 5 years then play national youth league here if they're not good enough to be taken back to the CSL?

Wonder what ChAFTA says about the movement of labour?

[stopper2]

If this is the case then the only newy way to answer this...no way, get f***ed, f*** off

****en bogan mentality!

The mind is like a parachute...it works best when it is open.

[Jeterpool]

http://www.smh.com.au/business/cbd/n...02-gn94ss.html

Not sure where to put this.

[stopper2]

http://www.smh.com.au/business/cbd/n...02-gn94ss.html

Not sure where to put this.

Gee Tinks still owes Gerry Harvey $22 Million!!!....shit he must have some spare coin!

[The Dunster]

Gee Tinks still owes Gerry Harvey $22 Million!!!....shit he must have some spare coin!

[baldrick]

Newcastle Jets: FFA loses $2.4m since taking over A-League club


THE FFA hopes to sell the Jets by the end of the year after incurring millions of dollars in losses running the club since taking it off Nathan Tinkler in May.

The governing body is set to announce $2.4 million in losses from running the Jets this season after a proposed sale to Dundee United chairman Stephen Thompson collapsed late last year.

It is understood the FFA was forced to honour existing debt associated with the club, including superannuation owed to players, unpaid stadium costs and loan fees owed to foreign clubs.

Having cleared the debts, the forecast loss for next season will be about $1.8 million if the FFA does not find a buyer.

"FFA is not in a position to comment on financial information relating to the Newcastle Jets while a comprehensive sale process is under way," a spokesperson said.

However, the governing body is hopeful of finding a new owner for the club before the end of 2016. Six prospective buyers have formally enquired about buying the 2008 champions.

The club will be sold when a buyer meets the price and conditions acceptable to FFA.
- FFA

The FFA hired financial services company UBS to oversee the sale of the Jets.

Six information memorandums and confidentiality agreements have been signed between UBS and interested parties.


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The FFA reached a deal in principle with Dundee's Thompson last year, but the proposed sale collapsed after negotiations stalled past the governing body's deadline.

It is understood the FFA's asking price for the Jets is about $5 million.

"Six parties have been identified as having genuine interest and capacity to purchase the club. Those parties have an information memorandum that clearly sets out the finances involved," the spokesperson said. "The club will be sold when a buyer meets the price and conditions acceptable to FFA.

“There's no deadline, as such, but FFA has made it clear we don't want to retain ownership of the Jets any longer than necessary."

The Australian Financial Review reported recently that only 17 Australian football clubs of all codes recorded a profit last year, including the A-League’s Melbourne Victory ($1.51 million) and Western Sydney ($500,000).

http://www.theherald.com.au/story/37...t-jets/?cs=305

[belchardo]

It always seems to be "next year".

[Grimario]

That's a huge loss to be making when you factor in we're run on fumes and also sold Leaky G in that period. No money outside the cap, skeleton staffing levels and still a high membership base. Haemorrhaging money... why would anyone want to be involved?

[Thomas477]

Loan fees? To who?

[plague]

That's a huge loss to be making when you factor in we're run on fumes and also sold Leaky G in that period. No money outside the cap, skeleton staffing levels and still a high membership base. Haemorrhaging money... why would anyone want to be involved?

yeah this is a very good point and other than a massive increase in corporate sponsorship and added TV money in the next deal how the hell would they ever go close to breaking even at least?

[GazFish35]

Loan fees? To who?

Wasn't Edson on loan?

[plague]

Loan fees? To who?

Probs Gerry Harvey

[Jeterpool]

Loan fees? To who?

Wasn't Edson on loan?

Yes

[Jeterpool]

Probs Gerry Harvey

Stupid if you don't see him during interest free periods

[turbojetfireV8]

Stupid if you don't see him during interest free periods

Yeah but all those hidden fees are where he's making his money, Gezza wasn't born yesterday

[Jeterpool]

Yeah but all those hidden fees are where he's making his money, Gezza wasn't born yesterday

[Jetmaster]

That's a huge loss to be making when you factor in we're run on fumes and also sold Leaky G in that period. No money outside the cap, skeleton staffing levels and still a high membership base. Haemorrhaging money... why would anyone want to be involved?

This ...

It is understood the FFA was forced to honour existing debt associated with the club, including superannuation owed to players, unpaid stadium costs and loan fees owed to foreign clubs.

Add to that the exorbitant wages being paid to some players during the handover and the overall state of finance when Tinks left.

This is not the way the club would normally operating - Tinks mess will take at least two years to clear.

[hawk]

hang on. wsw and Brisbane cost a load more when they were ffa run but that wasnt called a loss. nice spin that

[Grimario]

This ...

Add to that the exorbitant wages being paid to some players during the handover and the overall state of finance when Tinks left.

This is not the way the club would normally operating - Tinks mess will take at least two years to clear.

But...

Having cleared the debts, the forecast loss for next season will be about $1.8 million if the FFA does not find a buyer.

This statement suggests debts are cleared and the club expects to lose $1.8m per season. That means Tinks debt payoff was 600k or so + whatever the sale of Leaky G got the FFA.

And exorbitant wages? Irrelevant, all inside the cap which is covered by TV money. Salary spend should be a net zero result if only inside the cap... and we certainly didn't have anyone outside of it.