knox_team
Years ago

Seamus to buy the dome?

A few people were talking last night at the Dragons v Tigers granny and there was talk that Seamus was telling people he is looking at buying the Adelaide venue? Anyone know anything about this?

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Anonymous  
Years ago

He's dreaming

Reply #228849 | Report this post


Melvin Corpuscle  
Years ago

At last we'd get a Krispy Kreme in Adelaide !!

Reply #228852 | Report this post


LA Boy  
Years ago

make no sense to me, I've heard for awhile he wants his own venue but in Adelaide? Maybe he'll hire that one to cover his costs here in Melbourne? err still don't make sense...

Reply #228854 | Report this post


Anonymous  
Years ago

what happened to the venuetix thing?

Reply #228856 | Report this post


Anonymous  
Years ago

It's as good as done

Reply #228857 | Report this post


LC  
Years ago

Seamus wants to control the league...he is doing it bit by bit

Reply #228870 | Report this post


Anonymous  
Years ago

to be sure to be sure

Reply #228876 | Report this post


DICKO  
Years ago

LC might be closer to the truth than you realise.

Reply #228886 | Report this post


LC  
Years ago

I reckon he sees himself as a cross between Mark Cuban, David Stern and Richard Branson.

Reply #228891 | Report this post


Anonymous  
Years ago

What does he do to make his $$$$?

Reply #228906 | Report this post


Anonymous  
Years ago

who'd call their kid Seamen, sorry Seamus???

Reply #228922 | Report this post


Isaac  
Years ago

LC, he's more like a combination of all three, if you catch my drift.

#'906, he has a painting/building company.

Reply #228923 | Report this post


DJ  
Years ago

Painting/Building and I think a couple of pubs.

Reply #228924 | Report this post


kcgone  
Years ago

Helping out buddy Groves

Reply #228928 | Report this post


Jack Toft  
Years ago

I understood the deal with Venutix to be basically done, albiet subject to a couple of conditions.
Now, with ABC down the gurgler the liquidators would be looking for the highest sale price, but the Dome being a "private" asset of one Eddie Groves, the Dome could be transferred without the same scrutiny.
So, the big question is how the ownership of the Dome is currently setup. If Eddie Groves was a clever chap, the Dome would not be owned by Edward John Groves Esq, rather the Dome would be owned by a holding company (eg The Dome Pty Ltd) of some description with Edward John Groves Esq owning 100 units in the company.
The units can therefore be sold therefore eliminating the nasty stamp duty that Kevin Foley seems to enjoy collecting.
The Dome would fetch $5-10M and so the Stamp Duty would be $269 to 543K. Quite a nasty little suprise for players who don't know how to exploit the loopholes in our tax laws!

Reply #228931 | Report this post


Isaac  
Years ago

Dome wouldn't fetch $5-10m.

Reply #228947 | Report this post


Camel 31  
Years ago

There's been several press statements that Mal ( On behalf of Groves) was in the final stages of a sale to Venuetix, but that may be dependant on the make up of the new Mens elite competition.

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Jack Toft  
Years ago

Isaac, Didn't it cost around $18M in the first place?

Let's do the sums.
Land in Beverley:
20,000 @ $200/m2 = $4,000,000
Commercial Bldg (use warehouse rate):
6,700 m2 @ $500/m2 = $3,362,000
Offices
585 m2 @ $1,900/m2 = $1,111,500

($8,473,600)

+ Carpark improvements - Asphalt @ $30/m2
+ Plumbing and toilets

I reckon if you had the place valued by someone, or had a copy like Rawlinsons cost it up, $10M

Reply #228970 | Report this post


 
Years ago

Jack, it was valued a few weeks ago at just over 3 million I believe.

Reply #228977 | Report this post


Jack Toft  
Years ago

OK
Seems low to me, but $3M is probably what it is worth given the economic climate

Reply #228983 | Report this post


Anonymous  
Years ago

It was valued by a Bank as a business at just over $3m.

There's a bit of difference between that and a valuation on the building.

Reply #228992 | Report this post




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