BJF
Years ago

Joyce the big loser from Blaze troubles

Under the plan, unsecured creditors will receive 7c in the dollar and the owner Owen Tomlinson will inject $300,000 within 21 days of its execution.
Despite this, Mr Robson said [Joyce's] $310,000 claim would be a "write-off" because it was declared a retrenchment payment, based on legal advice.

Mr Joyce's lawyers, who won the court case against the Blaze before it went into administration, said they would challenge that decision.

The document shows there was $645,000 owed to priority creditors who, under the rescue proposal, will get 73c in the dollar.

Full story

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Happy Days  
Years ago

What a mess....Cant say there asset rich!!!One LED scoreboard etc etc

Reply #365931 | Report this post


Anonymous  
Years ago

As expected they will trade out of it and a former coach will get a fraction of his payout. Touche from a strategic perspective.

Reply #365935 | Report this post


Phobos  
Years ago

"If creditors choose to dismiss the Deed of Company Arrangement, they can move to liquidate the company which could see the licence for the Gold Coast team revoked by Basketball Australia."

WOuld be very interesting if the coach decides to dismiss the Deed of Company Arrangement.

What does that mean though?

Reply #365942 | Report this post


BJF  
Years ago

The way i read it is that the Tomlinson's will dictate the agreement as they are the major creditors. Former coach doesn't have much hope here other than getting 20-30k

Reply #365943 | Report this post


Jake  
Years ago

I am reading it the same as BJF.

Reply #365944 | Report this post


Bowtie  
Years ago

4 contracted players, the CEO and the office accountant are all exempt from this. They are still being paid. How can this be so?
If super payments show up on your monthly pay slip but aren't sent to your Super Fund, is that illegal?

Reply #365945 | Report this post


donkey  
Years ago

Brendans legal bills are 6 figures, does this mean he ends up out of pocket?

His return will not even go near that let alone him benefiting.

Reply #365946 | Report this post


Anonymous  
Years ago

And everyone was saying the tigers were shabby

They negotiated an outcome, and dispite all the chatter they did it behind closed doors, and on the surface it seems fair to both parties.

Reply #365947 | Report this post


Anonymous  
Years ago

I use a blaze jersey as toilet paper, get rid of them, joke of a club.

Reply #365951 | Report this post


Blazefan  
Years ago

^
Thanks Daniel for this insight into your toilet rituals. Dad would be proud.

Reply #365960 | Report this post


LanceUppercut  
Years ago

Poor form from the Blaze, something doesn't sit right

Reply #365967 | Report this post


Anonymous  
Years ago

In fairness, the owners are forfeiting a lot of money owed to keep the club alive.

Reply #365968 | Report this post


Disgraceful  
Years ago

What a disgrace. Glad I'm not an NBL coach. These poor guys work their backsides off to get to the level they are at. And this is how basketball chooses to repay them? I am disgusted at the lack of help available to coaches from the NBL in this league. They desperately need a coaches association to represent them. We won't be able to attract quality coaches with this kind of reputation. Can't sell them on the lifestyle when they get treated like this and they can make more money overseas. Shame, shame NBL. Have heard we're losing Gleeson to an overseas gig as well.

Reply #365970 | Report this post


Anonymous  
Years ago

Seriously, he was paid for the work he did, thats more than a lot of coaches around the world get when the owners decide to get rid of them. Would have been smart to agree to a settlement like Gleeson did.

Reply #365974 | Report this post


Disgraceful  
Years ago

Re: "Seriously, he was paid for the work he did, thats more than a lot of coaches around the world get when the owners decide to get rid of them." Not true. In most pro leagues around the world, when you sign a contract, it's a contract. If owners decide to go a different direction, they pay out the current coach. Happens in the AFL all the time. It's a shame that fans like you have such lack of respect for the people that play and coach sports to think that way.

Reply #365980 | Report this post


Anonymous  
Years ago

Not true disgraceful, in morw reputable league they get a settlement, in many they get nothing. Very few get years in advance paid out when they are sacked.

Reply #365988 | Report this post


Maxx  
Years ago

Contracts are like toilet paper in Australian sports. It is not like overseas where they get millions and become a trade-able commodity.

There is not enough money in any sport in Australia to demand a player/coach to stay if they don't want to so why should should there be any honor the other way.

Trevor had a contract with the Crocks but wanted to go to Melb because of personal issues. What were the Crocks to do, say no?

Australian sports should just abandon multi-year deals and only recognize 1 year contracts.

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Anonymous  
Years ago

Disgraceful
I think your wrong here, since the GFC there are a lot of Basketball contracts not being honored, players and coaches alike.

I know of a mumber personally overseas that are still waiting on money from the season past and others that have just walked away to find new clubs and better situations.

I'm not advocating poor treatment simply stating the fact, one of the challenges here in Australia is no weight for the players association compared to the owners. and I suspect coaches contracts are probably handled by them as well

Reply #365992 | Report this post


Anonymous  
Years ago

I guess some may look at it as Karma.

Must have been quite difficult to keep his earnings to under 5k pa while he was fighting this case so he could plead hardship with the court....

Surely if he actually wanted to work he could have managed to earn something a bit more substantial than 100 bucks a week? Or was it all part of the grand plan - which seemingly now has gone to shit in a big way!

Reply #365993 | Report this post


Maxx  
Years ago

Also, Joyce is better off calling it 'lost wages' as he would then be eligible to claim from GEERS where he would get a heck of a lot more than from the administrators.

Reply #365994 | Report this post


Disgraceful  
Years ago

@Maxx. I totally agree. If a team can't honour their end of the deal should they change direction, they shouldn't lead on a coach/player to get them. Anyone that doesn't feel for Joyce and what he's been through is flat out disgraceful. I just feel sorry for the poor guy. I think sometimes fans forget that these are real people's lives we're talking about here and it's a very, very specialised field. It's not like these guys can go out tomorrow and get another gig like you or I can. There are only 9 people in Australia that do what they do. So, they should be financially compensated when an owner decides to rip their contract apart. Either that or get rid of contracts completely which would then lead to very junior coaches in this league. Very few seasoned, head coaches will sign for a 1 year deal. If we go that angle, you'll have a whole league full of Anstey's and Heals, i.e. inexperienced, untried coaches. God help us.

Reply #365995 | Report this post


Anonymous  
Years ago

Tomlinsons and Joyce should havwe come to an agreement - $150K youre own your way. Tomlinsons were wrong to claim null and void, Joyce unrealistic if he thought he'd get full pay for work he didnt do.

Reply #365998 | Report this post


Anon  
Years ago

@anonymous. Although you must remember that a court of law deemed that he WAS due full pay for work he didn't do.

Reply #365999 | Report this post


Anonymous  
Years ago

yes and reality says he isnt getting it.

Reply #366006 | Report this post


Mick  
Years ago

Revoke the license. This isn't like Cairns when they went into admin but had a solid following and were just overspending.

This license does not belong on the Gold Coast.

Reply #366007 | Report this post


LanceUppercut  
Years ago

I think the point is, it was work he was willing and AGREED to do..that is what the court found, from memory it was the Blaze who repudiated the agreement 2 years into a 4 year contract..remember he relocated his family to the gold coast with the expectation and agreement that he would be working for 4 years..I am not a fan of Joyce and never thought the blaze should have signed a coach for that long, but have to feel sorry for Joyce in this mess.

Reply #366013 | Report this post


Anonymous  
Years ago

no grounds mick, they went into VA with $12 mill of debts. The owners are the ones losing the most in this.

Reply #366014 | Report this post


Bowtie  
Years ago

Why wait till now for VA? 5 years and $11.5 million dollars later.

Why still pay 6 staff members (including 4 players, including probably player highest paid in the League)?
Tooooo coincidental, Joyce about to run out of options and time and would bring down the curtain.

Reply #366017 | Report this post


BJF  
Years ago

typically a deal can be reached in these situations. it is not uncommon to barter as he would have earnt 150k ball park; 37c in the dollar tax less super etc
so would have been due to net around 100k in his pocket by two years is 200k

taking into account it would easily cost 50k in lawyers plus the risk of losing to go to court

offer the guy 100k cash on the spot as compensation and the deal is done with no one looking bad

The cloud over all this as i understand it is that The Coach was not directly employed by the club rather his company contracted to supply coaching services to the Blaze.

Reply #366018 | Report this post


Isaac  
Years ago

Relocated his family to the Gold Coast. I know it's a reasonably serious matter but there is a funny side to that line!

Reply #366020 | Report this post


Anonymous  
Years ago

I forgot Joyce set up that contracting company towards the end of his time with the Hawks, so he's not a direct employee of the club.

I assume that rort was for tax minimisation purposes?

Reply #366027 | Report this post


Rfsowv  
Years ago

It's exactly for tax minimisation. I agree that it's a specialised field, but it's still contract based labour. I'm a contractor, and I can walk from a contract with minimal notice, but the companys I contract to can also terminate the contract with minimal notice. It's a risk I take to be better compensated and have more control over my earnings.

I think he pushed a bit hard to get the righteous result, rather than being pragmatic and compromise to get a reasonable payout. The organisation has done this legally, but it's definitely a tactic to clear some unwanted debts and continue on. Happens all the time in medium sized industry. Not saying it's ethical, but it's legal.

Reply #366134 | Report this post


Nix 98  
Years ago

Only 2 votes against it. BJ and Harvey.
Harvey made a hell of a speech.

Reply #366211 | Report this post


Commander  
Years ago

So Harvey is a creditor also? What did he say in his speech?

Reply #366212 | Report this post


Commander  
Years ago

Bump...

Reply #366216 | Report this post


Nix 98  
Years ago

Can't get any details.
is there a creditor on board here?
Hoarey, Harvey and Cadee are all creditors.
No salary since end of season and no medical bills paid. Feel for Hoare as he's a retired family man now.

Reply #366223 | Report this post


Commander  
Years ago

Why doesn't hoare come out in the media about it?

Reply #366233 | Report this post


Anonymous  
Years ago

Probably because he can see the big picture and is acting with class like he did his whole career.

Reply #366243 | Report this post




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