Happy Days
Years ago

Shane Heal Bankruptcy

Article from the Courier Mail. Some interesting reading

Topic #37454 | Report this topic


Anonymous  
Years ago

a very good article, seems to confirm that Shane hasn't changed much since his days in the AIS in the early '80s.

If that is truly the case , I'd strongly suggest the SEQ players ensure they fill their own drink bottles.

Reply #536800 | Report this post


Greggo  
Years ago

Wow... sounds pretty dodgy

Reply #536814 | Report this post


Anonymous  
Years ago

You almost have to admire how positive he is. This would have been devastating and humbling for him.

I don't know much about bankruptcy although I thought it would have been just his pty ltd companies affected and not his personal wealth and investments. I'm suprised it didn't cost him his marriage.

I didn't know Matthew Nielsen was invloved. I heard way back in the kings days that they would be vip casino gambling together (this is alleged, I have no proof of this). This was before Nielsen made serious money playing hoops and Heal had returned from the nba.

From trading shares on margin to hyper expansion of his business interests, it looked like he went hard on the court as well as off.

Reply #536816 | Report this post


Anonymous  
Years ago

I'm not sure humbe and Heal go together

Reply #536818 | Report this post


kr  
Years ago

Sounds very Eddie Grovesish to me, chasing more and more growth with increased leverage up at every turn.

Reply #536819 | Report this post


Happy Days  
Years ago

Got too big too quick!!!Be interesting to know whos funding this new team. I certainly wouldn't be putting up my hard earned money in.

Reply #536821 | Report this post


Anonymous  
Years ago

816, what's to admire about someone who goes bankrupt owing lots of money to lots of people that will never be repaid?

Reply #536823 | Report this post


Ricey  
Years ago

Bankrupt doesn't mean you have nothing. Case in point, Trump. Bankruptcy is a protection of assets at times, and just a way to get out of paying debts as much as possible. Some people genuinely go bankrupt, others just use it to their financial advantage

Reply #536825 | Report this post


Anonymous  
Years ago

So 6 months after he isn't a bankrupt and 3 months almost since the story was written, is there a point?
Hopefully he won't make the same mistake twice.

Groves, pills in cars, Toyota dealers, bookies, university employees and the list goes on.


Reply #536829 | Report this post


Anonymous  
Years ago

None of that article surprises me about Shady Shane.
I do love it when excessive greed and dishonesty catches up to someone, but it is a damn shame when numerous innocent creditors are caught up in it and are left out of pocket like that.

I never understood why white collar crime was so easily forgiven. The bigger the rip-off and the bigger the profits, it seems the less likely one is to end up in jail.

Reply #536850 | Report this post


Matthew  
Years ago

I cant say Im a fan of Shane Heal. To be he represents a side of humanity: Hubris, Extreme Aggression and a willingness to burn mates to make Money. The fact that his wife ALSO went bankrupt owning money dosnt make me feel any better there. People who hide money under their wifes name are well... I wont say what they are here.

Reply #536853 | Report this post


Ricey  
Years ago

Who's to say his wife wasn't involved in all the dealings though

Reply #536863 | Report this post


Anonymous  
Years ago

Anyone know how to read the actual article that was in the magazine or link to it?

Reply #536864 | Report this post


Anonymous  
Years ago

You mean the link in the original post?

Reply #536867 | Report this post


Anonymous  
Years ago

The way he was speaking with the Queensland coach who was coaching his daughter in Tasmania last week, I have no reason to believe he is anything but a terrific upright citizen who has nothing but the utmost respect for women.

If my daughter is ever good enough, the first place I would be encouraging her to play is his WNBL team!

Reply #536868 | Report this post


Anonymous  
Years ago

Thanks for posting Jennifer , I'm certain her dad will put her into his team as soon as she is old enough.

Reply #536872 | Report this post


Anonymous  
Years ago

Should have added that "DOH" sounds even worse than "SOJ"

Reply #536873 | Report this post


Anonymous  
Years ago

SAN FRANCISCO MAN BECOMES FIRST AMERICAN TO GRASP SIGNIFICANCE OF Irony - Jay Fullmer, 38, yesterday became the first American to get to grips with the concept of Irony. "It was weird," Fullmer said. "I was in Melbourne and, like, talking to this guy and it was raining and he pulled a face and said, "Great weather, eh?" and I thought "Wait a minute, no way is it great weather." Fullmer then realised that the other man's 'mistake' was in fact deliberate.
Fullmer, who is 39 next month and married with two children, aged 8 and 3, plans to use Irony himself in future. "I'm, like, using it all the time," he said. "Last weekend I was grilling steaks and I burned them to shit and I said, "Hey, great weather!"

Reply #536875 | Report this post


Curtley  
Years ago

If this bloke had played for the 36ers for most of his career you'd all want him to have the keys to the city.

Reply #536887 | Report this post


Anonymous  
Years ago

No we would be embarrassed by his antics. Classless....

Reply #536894 | Report this post


Anonymous  
Years ago

'Anyone know how to read the actual article that was in the magazine or link to it?"

See the link. It's shouldn't be that difficult for a kid. Old man I guess it is.

Reply #536897 | Report this post


A. Bitoni Fan  
Years ago

What a dog

"Heal testified he was "not aware" of such timing and his income-free period represented time for a business to turn profitable. “You can be suspicious about the timing; I'm trying to help kids,” he told court."

Reply #536900 | Report this post


Isaac  
Years ago

Be prepared to stand behind what you have posted in court. Remember, if I am asked by a lawyer to provide potentially identifying information about a Hoops poster, I will comply.

Reply #536908 | Report this post


Cram  
Years ago

Small business is tough and you have to work hard at it. A lot of small businesses fall into the traps ignoring cash flow problems (and focusing simply on overall company value), often borrowing from friends to overcome these problems without sorting out the underlying issues. I'm not making any judgments on this case except to say that Heal is far from the first or last to ever have a tough time transitioning from pro athlete to real life or setting up a small business.

Hope he recovers.

Reply #536941 | Report this post


MACDUB  
Years ago

Unfortunately, many pro athletes go about their business endeavours the same way they play the game.

But, business is different to sport.

In sport, work in = work out. You get what you put in and the measure of your success generally equates proportionally to your work ethic.

In business, work in does not always equal work out. Putting more into a business, being more determined and motivated can actually lead to your commercial downfall.

The same "burning desire" to be bigger and better makes pro athletes, but ultimately breaks them as businessmen.

Reply #537006 | Report this post


Anonymous  
Years ago

Any posters looking to have a crack at Mr Heal - I'd listen to Isaac, who I assume has already been contacted by said individual.

Reply #537041 | Report this post


jax  
Years ago

I will leave my opinions of Mr Heal out of this but personally I would not enter into a business relationship with him. I'll leave it at that.
Best of luck to the new SEQ WNBL franchise and its supporters, sponsors and creditors. I hope they are a success and in the league for a long time.

Reply #537045 | Report this post


Ex friend  
Years ago

Heal is a fraud and Simon Kerle lost 500k another ex mate lost 500k and his old agent lost 150k another ex team mate lost money he is only coaching women so he can get his daughters a gig he will ruin seq Bball also Jason Cheney ex wnbl coach lost 200k anther guy jimmy lost money all I know is where ever he goes the bridges burn behind him

Reply #537265 | Report this post


Anonymous  
Years ago

Let's hope your facts are right.

Reply #537267 | Report this post


maxymoo  
Years ago

Heal allegedly a dickhead

Reply #537271 | Report this post


Anonymous  
Years ago

Don't think Heals daughters will need any help from Dad to get a game, from what I have seen they have both a great work ethic and a stunning skill set, they certainly wont be needing Dad to open any doors for them, they will be smashing them down on their own

Reply #537278 | Report this post


Anonymous  
Years ago

The bigger question to be asked is how Simon Kerle had a spare 500k to invest.

I assume 500k Kerle > $1 mil Nielsen or B Brown.

Reply #537281 | Report this post


Heal allegedly defrauded #265 of any punctuation.

Reply #537293 | Report this post


Anonymous  
Years ago

Lol supernintendo.

Reply #537294 | Report this post


Anonymous  
Years ago

SEQ winning the wnbl championship this season would be a Hollywood movie type story.

Reply #578192 | Report this post


Luuuc  
Years ago

It would indeed.

They're in excellent form right now, so I wouldn't bet against them!

Reply #578193 | Report this post


TonyMontanasCoke  
Years ago

Hi all, Shane Heal was awesome in this game.

https://www.youtube.com/watch?v=L3OCJBVgGHM

Probably pathed the way for a lot of future Australian's to play in the league.

Reply #590929 | Report this post


Anonymous  
Years ago

Thanks Quentin

Reply #590930 | Report this post


TonyMontanasCoke  
Years ago

Np... here to help.

Reply #590932 | Report this post


_Strungout_  
Years ago

http://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2016-releases/16-396mr-asic-charges-former-company-director-with-fraud/

Reply #608637 | Report this post


Very Old  
Two years ago

first post for those who came in late

http://www.couriermail.com.au/business/queensland-business-monthly-former-nba-player-shane-hammer-heal-is-back-in-business/story-fnihsps3-1227303814377

last year
http://www.smh.com.au/business/australian-basketball-champ-shane-heal-charged-with-fraud-20161118-gssgem.html

and the next day

http://www.smh.com.au/business/basketball-stars-caught-up-in-shane-heal-alleged-fraud-20161118-gsss2n.html

two days later

https://www.businessinsider.com.au/philadelphia-76ers-coach-allegedly-defrauded-250000-by-a-former-australian-player-2016-11



Reply #630122 | Report this post




 

Reply to this topic

Random name suggestion for anonymous posters: Green 35

Rules:You must read the Terms of Use. No spam, no offensive material, no sniping at other clubs, no 'who cares?'-type comments, no naming or bashing under 18 players. Learn how to embed YouTube videos or tweets

Please proof-read your post before submitting as you will not be able to edit it afterwards.



Close ads
Westside Basketball Association
Dunk.com.au - Custom basketball uniforms
PickStar - The best place to book sports stars

Advertise on Hoops to a very focused, local and sports-keen audience. Email for rates and options.

Recent Posts



Invoicing clients? Stay productive with Punch, the insightful time tracker that earns you more.

Special offer: $30/month Pay $100 for lifetime access. Sign up now!

.


An Australian basketball forum covering NBL, WNBL, ABL, Juniors plus NBA, WNBA, NZ, Europe, etc | Forum time is: 4:21 pm, Fri 24 May 2019 | Posts: 771,875 | Last 7 days: 817