Two Consortiums Bidding To Buy The Tahs

[WorkingClassRugger]

According to this article. One lead by David Levy and the other Bob Dwyer and Dilip Kumar. http://www.smh.com.au/rugby-union/u...ads-waratahs-takeover-bid-20140528-zrqwn.html

 

[Omar Comin']

Well I've always thought there should be 2 Super Rugby teams in Sydney so this sounds perfect. Give one of them the Waratahs and allow the other group to start a 2nd side.

(Yes I know this won't happen)

 

[p.Tah]

Dilip Kumar was involved with the NSWRU/Tahs and the ARU in the early to mid 2000s. Those with a better understanding of rugby administration than I, is Kumar's involvement good or bad?

 

[RugbyReg]

I don't think he was particularly highly regarded at the time. Was he heading the tahs the first time the ARU had to step in and take over?

 

[Lindommer]

Bad.

 

[p.Tah]

That's my concern. Happy Bob is involved however, perhaps he needs to better choose his partners.

 

[Crashy]

Old Georgina Robinson has been a bit quiet on this front. Going by her previous articles, we should know by now who's buying the licence.
Anyone have any info?

 

[wamberal]

The asking price must, surely, have risen a lot during the season. That would maybe weed out one or both of the interested parties. Might be worth holding on for a while.

 

[Hugh Jarse]

The Rugby Club may have a lazy $21m lying in their bank account soon.

Perhaps The Rugby Club should buy a rugby club?

 

[matty_k]

How are the Rugby Club getting $21m?

 

[p.Tah]

How are the Rugby Club getting $21m?

A developer wants to buy their building.

 

[Hugh Jarse]

How are the Rugby Club getting $21m?

@Crashy broke the news on the "the awful truth about the ARUs financial position" thread:

Some good financial news afoot - well mainly for rugby in NSW.
That wonderful old establishment, 'The Rugby Club' in Sydney CBD has had a, wait for it...$21 million dollar offer to sell the building to a developer.
The club plans to use the money to.
clear $1 million in debt
buy a new premises with better facilities and most importantly..
Create a foundation with the surplus $10 mil plus with income to be diverted to NSW grass roots rugby.
Members vote in Oct.

Conservatively at a 4% yield, thats $400k per year until the end of time that is being pumped into grass roots rugby.
Hail the foundation!

 

[Crashy]

yes gang - I was at the club yesterday getting schtonkered at their monthly luncheon ( Fab Fenton is a funny bugger). It was announced that contracts had been signed and $2.1 mil was deposited into their account. The remaining $19 mil will be received in 12 month's time. A phenomenal amount of money which if managed carefully in the proposed foundation, will provide an income stream of considerable size for ever...