Knights Ownership

Discussion in 'Newcastle Knights Discussion' started by Billy, Aug 5, 2016.

  1. 88Knight4life

    88Knight4life Adam MacDougall

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    Eeeeethann how r u buddy? Where u been hiding :sad:
     
  2. Ethan

    Ethan Steve Simpson

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    Under a rock it was cooler lol , Im good 88 how you going...
     
  3. 88Knight4life

    88Knight4life Adam MacDougall

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    Hahaha hearing that, this working in Branxton is hidious.

    Going well mate, getting excited for some footy though :Knights:
     
  4. Kenny Powers

    Kenny Powers Banned

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    In most first world economies about 70-80% of Governments tax revenue is created by large corporations. They don't pay much 'income tax', if any for a reason. It allows them to expand their operations, investments and number of employees.

    They don't just 'create bigger profits for rich people', if they're publicly listed then a dividend is paid each year to the share holders and the board members will receive bonuses (which as a percentage of the profit created is to several decimal places)

    So the idea that government will nuture and assist it's greatest source of income is just common sense

    It is well known that the middle classes in Australia, and basically every wealthy European state, are what is known as tax neutral. In other words, it's costs the government about the same amount to support these people then they pay in tax

    Average income 70k. Tax payable approx 20k

    If you have one child, the cost to send them to a public school each year and for both of you to enjoy medicare has already exceeded the amount you pay in tax

    Poorer people don't foot the bill for anything, neither do the middle classes. Yes, the pay a lot of tax, but they also receive a lot from the government. Do the numbers.

    I'm not saying there's anything wrong with a welfare state btw. Just pointing out the realities supporting our system
     
  5. Ethan

    Ethan Steve Simpson

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    Me too mate cant wait , I will be going to more games this year too as my son isnt playing this season so weekends off and no driving all over the valley for games....They got into the Grandfinal with 12 players all season but cant put a team together this year .
    The Terrace poached a couple of players a few got w/e jobs and 3 went to spewion and 2 are stuck in they're girlfriends hand bags lol....Only my boy and 2 others signed up for the 16s and he cant play up in 17s because they only have 2 signed as well ....I'm still going to go and do the setting up and the BBQ at home games and I get more Knights games so that is good ...its a pity though after 123 games for the one club ...
     
  6. rhugh89

    rhugh89 Moderator Staff Member Moderator

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    From RLW Mole

    Good times ahead for Newcastle

    The Knights are on a high in the wake of their fine win over the Titans – and better times are ahead.

    I’m hearing the takeover of the club by the rich Wests Newcastle Leagues Club is getting closer and closer.

    Wests is one of the biggest registered clubs in New South Wales and only have to get the move past their members at their upcoming annual general meeting, which should be a formality.

    The club is chashed up and will ensure the Knights are competitive in the player market in years to come.


    http://rugbyleagueweek.com.au/moles-monday-scoops-11-38/
     
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  7. 88Knight4life

    88Knight4life Adam MacDougall

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    Well FARRRRRRK ME SIDEWAYS i never gave Wests a chance in taking over!

    I can only assume that the NRL would be taking a sale price much less then the 15-20mil they were hoping for.

    Great news and great week for all knights fans members and players after the win
     
  8. slotmachine

    slotmachine Danny 'Bedsy' Buderus

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    Barry Toohey mentioned this in his Sunday column, it's a 50/50 partnership with the NRL and will need to be approved by Wests members.
     
  9. Billy

    Billy Danny 'Bedsy' Buderus

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    All these Sydney based people dreaming that Wests having a lot of money means they will put money into the Knights - while anyone who knows anything about Wests knows it's more likely they'll pocket any profits the Knights might make, and run them on a shoestring.
    Worst possible outcome IMO.
     
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  10. Captain Planet

    Captain Planet Andrew Tangata-Toa

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    Over 400 thousand pokies in the hunter, nearly 500 million made on those in 2016...majority of those machines in wests clubs......anyone think they can't afford it? At least give something back to the community !!
     
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  11. R_A

    R_A Darren Albert

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    I am not really for or against the way Wests run the club as long as we are spending the salary cap allowed for each nrl club.
     
  12. josh2010

    josh2010 Up The Knights!!!!! Staff Member Moderator

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    hopefully they do! With wests comes third party sponsors!!
     
  13. Kurriboy

    Kurriboy John Morris

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    I wonder how that will change the One chance group with their bid. Will they be happy to be part owners? How will all those people pledging money to become part owners feel with a 50% vote?

    Will Wests want them as part owners given their whole game plan was buy the knights from the NRL, then magically trade at a profit after years of losing money.

    NRL would be smarter for Wests as part owners, to take on some of the liability. Why would Wests want a 50% partnership with a group bringing 20 million to the table. That's chicken feed for them.
     
  14. Lockwire211

    Lockwire211 Danny Wicks

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    See I was under the impression that wests was pretty good with their outlay towards their sporting teams.
     
  15. Kenny Powers

    Kenny Powers Banned

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    I agree with your cynicism. I dont think Wests deserve anything more from us until they demonstrate a commitment to charity in the name of sporting success--something they're yet to do

    However, the Knights have always and will always run at a loss. Perhaps not year on year, but over 5 year averages the knights franchise isn't profitable. And Wests obviously know this, so it's safe to say they're prepared to spend the absolute minimum to keep the club running, which is to cover the revenue deficit each year. In saying that, there is a chance that they may be willing to spend an extra bit here and there where they feel they're getting value for money, which is something that we currently do not have

    And then there is the business connections with the board at Wests who will no doubt be able to produce some smoke filled room antics regarding TPA's
     
  16. Kurriboy

    Kurriboy John Morris

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    Whats the deal with the one chance team that launched the community ownership model?

    They seem to have dropped completely off the radar save for a few facebook posts!

    I am assuming that bid is a dud.
     
  17. slotmachine

    slotmachine Danny 'Bedsy' Buderus

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    It seems their model of soliciting donations then promising to run the club at break-even *this time* wasn't particularly attractive.
     
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  18. jamesgould

    jamesgould Danny 'Bedsy' Buderus Staff Member Admin

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    They didn't even get to the expressions of interest from "shareholders", did they? 40,000 or whatever donations of half a grand from a club that gets crowds of 15,000 seemed insurmountable to me.

    As well as the unanswered question of how ongoing funds would be sourced.
     
  19. slotmachine

    slotmachine Danny 'Bedsy' Buderus

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    And the whole concept was predicated on the assumption that the NRL was going to give the club to them for nothing.
     
  20. member 2299

    member 2299 Danny 'Bedsy' Buderus

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    Watch it slots.

    You will be in the gun with Ethan like me for those 'negative comments'. Common business sense says they were never a chance even if I did register my $500 interest, and Turdburg was never going to let us go for free.
     

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