Secret meeting for Kangaroos buyout

[Ian]

From http://www.news.com.au/adelaidenow/story/0,22606,21576064-12428,00.html

Secret meeting for Kangaroos buyout

DAMIAN BARRETT
April 18, 2007 02:15am



AFL boss Andrew Demetriou and three other league heavies last night secretly met with Kangaroos shareholders to discuss buying the club.

The meeting, organised by key shareholders Kerry Good and Peter Johnstone and held at Crown Casino, examined a potential takeover of the Kangaroos that would virtually ensure the club assumed a permanent presence on the Gold Coast.

With the AFL set to invest millions of dollars in the region, including the possibility of a 99-year lease on the Carrara oval, the Kangaroos are under pressure to increase their commitment to the region.

Significantly, the club's biggest shareholder, Peter de Rauch, who has long fought to keep the club in Melbourne, was not invited to and did not attend last night's meeting.

Demetriou, flanked by Andrew Dillon (general manager legal services), Ian Anderson (chief financial officer) and Andrew Catterall (general manager strategy and club support), left the meeting after an hour.

"It was an information session for some of the shareholders," Demetriou told the Advertiser.

"We were there to answer their questions and we had a pretty good discussion for an hour."

Asked if a buyout was on the AFL's agenda, Demetriou said: "I don't know, we didn't go down that that far - they're the shareholders, they're entitled to ask questions.

"Ultimately it is a decision for the shareholders."

De Rauch, who controls about one million of the four million Roos' shares, was shocked at not being invited.

"There was a meeting, was there, well, no guessing what that was about," de Rauch said when told by the Advertiser of the two-hour gathering of club heavies.

"I'm shocked. I have a few shares, and I wasn't invited. I wonder why. Maybe everything I predicted about there being a move to be on the Gold Coast from next year is coming true.

"What are these secret meetings about?

"Was (Graham) Duff (club president) telling the truth the other day at the members' meeting?

"I heard him say there was no hidden agenda, no conspiracy. I certainly hope there isn't."

Demetriou, when asked what was discussed about the Gold Coast, said:

"Not much about the Gold Coast, more about the club, our financial packages, the ASD (annual special distribution), it was all quite good."

When asked if the club's board was aware of the meeting, Demetriou said: "Yes, they were."

Kangaroos shareholders in attendance last night were Good, Johnstone, Mark Dawson, Robert Smith, John Magowan, Francis Trainor and at least two others.

Magowan, who owns about 600,000 shares, is also a Kangaroos director.

"I can't comment," Magowan said twice, after being asked what was discussed at the meeting and if the Roos' board was aware of the AFL presence at the gathering.

Dawson said: "I don't have any comment, what Andrew has told you, that's what it is."

Some of the shareholders who attended last night's meeting had denied the meeting would be held.

The Kangaroos have committed to a total of 10 premiership season matches during 2007, 2008 and 2009 on the Gold Coast.

The first of those matches will be played on Saturday night, against Brisbane Lions.

Some of the shareholders believe a more significant commitment to the region must be made immediately if the club is to remain viable.

[Hondo]

10 matches in the Gold Coast over 3 years never seemed enough to me, assuming the AFL see it as a key market.

[RustyCage]

I wonder what the chances of Judd wanting to return to Melbourne and going to a team that is about to move away from Melbourne are?

[blink]

None, because Judd will stay at West Coast.

[smac]

Secret meeting?

I know they have supporters who are loyal, history in Melbourne and all the rest of the arguements for keeping them. But seriously, they have been bleeding for years and someone needs to kill them off. Move somewhere, anywhere, just **** move already!

[JK]

None, because Judd will stay at West Coast.

I reakon he'll move back to Melb

[Rik E Boy]

Secret meeting?

I know they have supporters who are loyal, history in Melbourne and all the rest of the arguements for keeping them. But seriously, they have been bleeding for years and someone needs to kill them off. Move somewhere, anywhere, just **** move already!

Mr Holland to thread!

regards,

REB

[Sojourner]

http://en.wikipedia.org/wiki/Southport_Sharks

[blink]

None, because Judd will stay at West Coast.

I reakon he'll move back to Melb

Hard to say CP, but I can't really see why Judd would want to leave a club where he has won a Brownlow, Norm Smith and a Premiership, with another one a distinct possibility this year. Then again he may be satisfied with this and decide he wants a new challenge. I think they'll have room in the salary cap for him because Cousins won't be back (IMO) and that will free up $600,000 or so.

The innuendo regarding Judd not being happy with the playing group at West Coast is just that, it is only rumor.

[RustyCage]

None, because Judd will stay at West Coast.

I reakon he'll move back to Melb

Hard to say CP, but I can't really see why Judd would want to leave a club where he has won a Brownlow, Norm Smith and a Premiership, with another one a distinct possibility this year. Then again he may be satisfied with this and decide he wants a new challenge. I think they'll have room in the salary cap for him because Cousins won't be back (IMO) and that will free up $600,000 or so.

The innuendo regarding Judd not being happy with the playing group at West Coast is just that, it is only rumor.

He's the captain of a team that keeps getting into off field trouble. He has every right to be unhappy with the playing group.

[JK]

None, because Judd will stay at West Coast.

I reakon he'll move back to Melb

Hard to say CP, but I can't really see why Judd would want to leave a club where he has won a Brownlow, Norm Smith and a Premiership, with another one a distinct possibility this year. Then again he may be satisfied with this and decide he wants a new challenge. I think they'll have room in the salary cap for him because Cousins won't be back (IMO) and that will free up $600,000 or so.

The innuendo regarding Judd not being happy with the playing group at West Coast is just that, it is only rumor.

Perhaps also the fact that he's a Melbourne boy, not too much left that he hasn't achieved with the Weagles ... All just guesswork, but I wouldn't be surprised if he headed home (provided of course the trade period and draft allowed him to do so).

[Dutchy]

Secret meeting?

I know they have supporters who are loyal, history in Melbourne and all the rest of the arguements for keeping them. But seriously, they have been bleeding for years and someone needs to kill them off. Move somewhere, anywhere, just **** move already!

GET ******

[Hondo]

Article in ABC News email seems to squash speculation of the Gold Coast move ...

*AFL interested in taking control of Kangaroos*

AFL chief executive Andrew Demetriou has confirmed the league is interested in buying out shareholders of the Kangaroos Football Club.

Demetriou last night met with several shareholders and two board members to discuss the future of the club.

He said a buy out by the AFL, similar to the arrangement with the Sydney Swans, would be good for the club's members.

"We would certainly be interested if we can turn the club back to its members," he said.

"It's very important for us. We have a situation where we have a great relationship with the Sydney Swans but we own the shares there but it's a club that runs itself and it's a very fine football club, so that's primarily the reason."

Demetriou denied the AFL had plans to move the Kangaroos to the Gold Coast and said a buy out would help Kangaroos members regain control of the club.

"There is no secret agenda to get the Kangaroos to go to the Gold Coast," he said.

"They are playing games there for the next couple of years and that's what's going to happen and that won't be discussed any further until 2009.

"This is not about the Kangaroos playing games on the Gold Coast this is about the Kangaroos and their shareholders."

[Roylion]

http://en.wikipedia.org/wiki/Southport_Sharks

Southport appear to be very capable of fielding their own AFL side.

Accorsding to the club itself, they have an annual total annual turnover of about $200 million, 280 pokies, about 210 staff and an annual gross profit of more than $20 million. Apparently they have a very large warchest set aside for possible AFL entry. And they've had an application for entry into the AFL since 1996.

As a comparison the Brisbane Lions have an annual total turnover of $30 million.

[Magpiespower]

AFL have to move on the Gold Coast - NRL already has the jump on them with the Titans.

A Kangaroos move north is surely better than an inevitable merger with another Melbourne club?

[Dutchy]

AFL have to move on the Gold Coast - NRL already has the jump on them with the Titans.

A Kangaroos move north is surely better than an inevitable merger with another Melbourne club?

FFS, this makes me mad....has anyone ever looked into this properly or just feed off the rumours?

The club is in its best position financially for years and is going to be paying 100% of its salary cap next year. They are redeveloping Arden Street as I speak and have a record amount of members. I wont even start about on field success which many many clubs would crave.

The Kanagroos are playing the games at the Gold Coast due to -

1/ The AFL and the Gold Coast pay them $$$$ that to equal those $$ in Melbourne they would have to fill the MCG
2/ The AFL want a presence on the Gold Coast, having been there a few times recently it really is a 50/50 area between League and AFL due to the expats and the Lions success

Unless you know the facts, and debate this with some sense, shut the **** up.......sorry to put it so bluntly, but if it was your club Im sure you wouldnt be so flipant...

[smac]

AFL have to move on the Gold Coast - NRL already has the jump on them with the Titans.

A Kangaroos move north is surely better than an inevitable merger with another Melbourne club?

FFS, this makes me mad....has anyone ever looked into this properly or just feed off the rumours?

The club is in its best position financially for years and is going to be paying 100% of its salary cap next year. They are redeveloping Arden Street as I speak and have a record amount of members. I wont even start about on field success which many many clubs would crave.

The Kanagroos are playing the games at the Gold Coast due to -

1/ The AFL and the Gold Coast pay them $$$$ that to equal those $$ in Melbourne they would have to fill the MCG
2/ The AFL want a presence on the Gold Coast, having been there a few times recently it really is a 50/50 area between League and AFL due to the expats and the Lions success

Unless you know the facts, and debate this with some sense, shut the f*** up.......sorry to put it so bluntly, but if it was your club Im sure you wouldnt be so flipant...

Perhaps not so flippant, Dutchy, but I certainly wouldn't be looking to continue down the path the club has been on. Seriously, the wheels are wobbly at best. The current financial situation allows them to pay 100% of salary cap, but the club is still going to bi-lo to buy coaches and support staff.

Yes, the last 30 years have shown some success, but the last few have been poor years and no real end to that is in sight. I find it really interesting that an Adelaide based supporter of a Melbourne club gives a crap about staying in Melbourne - being an Essendon supporter, the club could move to Perth for all I care, so long as they can retain some identity. If Kangaroos act now, they can retain identity. If they wait, they will find themselves following Fitzroy.

[Dutchy]

One thing that is guaranteed is we are around for the next 4 1/2 years and that is plenty of time to keep improving on and off the field and make a sensible decision.

Probably our biggest mistake after 99 was not to "bottom out" like many other clubs to get the draft choices...

and BTW why is the Gold Coast the be all and end all? Who says it would be successful? Say we move up there and ditch allt he Melbourne tradition and then it fails?

My advice - watch the footy show tonight, Brayshaws comments will worth listening to..

[smac]

One thing that is guaranteed is we are around for the next 4 1/2 years and that is plenty of time to keep improving on and off the field and make a sensible decision.

Probably our biggest mistake after 99 was not to "bottom out" like many other clubs to get the draft choices...

and BTW why is the Gold Coast the be all and end all? Who says it would be successful? Say we move up there and ditch allt he Melbourne tradition and then it fails?

My advice - watch the footy show tonight, Brayshaws comments will worth listening to..

The answer to that question is cash Dutchy, the sharks have mountains of the stuff and the AFL would love to have them on board. If the AFL and the Sharks throw a pile of cash in, it will work.

If Brayshaw says something worth listening to then it will be a small miracle.

[am Bays]

2/ The AFL want a presence on the Gold Coast, having been there a few times recently it really is a 50/50 area between League and AFL due to the expats and the Lions success

This is a serious post, not an attack on North per se, just an outsiders view on the whole 10 clubs in Melbourne/Gold Coast/National competition debate.

Dutchy I won't even pretend to know as much about your club as you do and I freely admit thanks to some influential players in the 90s North Melbourne punched above their weight success wise. If I was a North supporter I'd be pissed off too knowing that my club is apaprantly in the AFLs and the fans of other clubs sights to be moved to the Gold Coast

My reading of the situation is the AFL is concerned that they don't want to repeat a Canberra where they ignored Canberra and RL and RU jumped in capturing the market.

I believe deep down the AFL know that 10 games over 3 years is a token effort comapred to teh NRL setting up a team on the Gold coast, especially as the AFL has pumped money into the Gold Caost stadium they will want a return on their investment.

In short the AFL want a team based on the Gold Coast (Australias biggest population growth area/market) full time, despite Brisbanes reservations, to ensure the Australain Football "brand" is prominant in oune of Australia's biggest population growth areas.

Whilst I concede to you North Melbourne are arguably in their strongest position finacially for the last 10 years, they appear to an outsider, to be the weakest of the clubs financially and market share (membership) in Melbourne.

So as an outsider if I was drawing up a betting market for a club to be relocated of the 10 in Melbourne it would be North, given that the AFL, for all intents and purposes want a club based on the Gold Coast.

In summary it is unlikely Melbourne can support 10 clubs long term, the AFL want a club/franchise, call it what you want, on the Gold Coast. If it is not North who do think it is most likely to be.