michaelredd
Years ago

Funny Bid for Sixers emerges

A Consortium called MVP Sports have made a expression of interest to buy the 36ers

Topic #4864 | Report this topic


thedoctor  
Years ago

That's Paul Bell's management business.

I hope they are successful in their bid. Fresh ideas, basketball knowledge and business know-how. Great combination. Would do wonders for the game I'd imagine.

Reply #55970 | Report this post


Anonymous  
Years ago

This will include having around 16-20 36ers games on Free to Air TV. More then likely late Monday nights maybe on channel 10 after sports tonight.

Reply #55971 | Report this post


Anonymous  
Years ago

Yesterday someone wanted KG and Cornsey to talk about Basketball.

Here is the chance, everyone should give them a call and put their support behind this.

If BASA get rid of the team, lose the Dome Debt, they can start looking after the local comp and have some money behind them to grow the game at grass roots.

The 36ers players and fans will see some money put into the team.

Every one will win.

Reply #55973 | Report this post


The Journo  
Years ago

Good on ya Belly, someone had to do it!

Sounds like its a real winner for everyone concerned.

Reply #55977 | Report this post


Anonymous  
Years ago

Calm down, everyone is getting WAY, WAY ahead of themselves.

Reply #55978 | Report this post


Anonymous  
Years ago

Do you really think this is a whim?

I don't think so, this has been in the works for months now. Every Local President has known about this for a long time and have met with the group looking to buy the team.

It is up to the local Presidents if BASA are to sell the team or not, it is not up to the BASA board (Thanks God).

Reply #55981 | Report this post


Noti Bagy  
Years ago

Sell the sixers and then what does BASA do for money?

They can not pay the debt now with the sixers making money how will they pay for it if they sell the farm?

Reply #55983 | Report this post


Anonymous  
Years ago

The debt will be dropped if BASA sell the team.

Reply #55987 | Report this post


Moses Guthrie  
Years ago

But the $$ is owed to the govt. Who will pick up the debt? If it stays with BASA, I'm slightly jubious .....

Reply #55989 | Report this post


Anonymous  
Years ago

It will not stay with BASA as their local comp couldn't pay the debt.

There will be a deal done with the Government.

BASA will give up the 36ers, be debt free and have a million + dollars that will be shared between the local clubs.

The new owners will work closely with the local clubs to grow the sport in the state and get back to the glory days. As a ful dome is in everybody's interest.

Reply #55990 | Report this post


Moses Guthrie  
Years ago

My mum always said "if it sounds too good to be true, then it isn't true". Someone please, read the fine print carefully!

On first glance, I'd be signing this one quickly. Interestingly though ..... I thought the Libs privatised everything yet now, Labor are offering us $20m (or so) if we privatise the 36ers.

To quote the 12th Man (Billy Birmingham) - Smellabitofa Ratanyaka.

Then again, if Belly's involved, maybe the only loophole is that the Bearcats get reinstated as our second NBL team! ;-)

Reply #55992 | Report this post


anonymous  
Years ago

If the sixers are to be sold, shouldnt they be put on the open market to find the best possible result for all of basketball. The sixers as an individual entity are worth a lot of money. If this is more than a rumour this looks like an in house deal, not the way to go
for something of such importance.

Reply #55994 | Report this post


Anonymous  
Years ago

In response to:

If the sixers are to be sold, shouldnt they be put on the open market to find the best possible result for all of basketball. The sixers as an individual entity are worth a lot of money. If this is more than a rumour this looks like an in house deal, not the way to go
for something of such importance.

anonymous, 26/10/05


The 36ers are not the best business to buy to make money, the people that are looking to buy this plan to put a lot of money into it and not see a profit for many years if ever.

It isn't the sort of business where a bidding war will errupt.

Reply #55996 | Report this post


Anonymous  
Years ago

shouldn't the presidents make it clear that they might want to sell and see what offers come in?

that's the best way to get the best price..

Reply #55997 | Report this post


Anonymous  
Years ago

WWVD = what would vlahov do?

Reply #55998 | Report this post


anonymous  
Years ago

Depends how much you have to pay for the license. The best franchise in the league, why undersell it.

Reply #55999 | Report this post


Anonymous  
Years ago

Best franchise in the League?
Not quite sure how you figure that.

Reply #56005 | Report this post


anonymous  
Years ago

Anon 56005, which would you consider better, taking into account longterm performance crowd attendances and recognisable brand name.

Reply #56008 | Report this post


Anonymous  
Years ago

Any team that makes money, which does limit it I know.
Townsville were the only team that made money last year, apparently Melbourne and Perth will follow suit this year.
A few years ago Adelaide certainly could have laid claim to the best franchise tag, but not anymore.

Reply #56009 | Report this post


Anonymous  
Years ago

36ers lose at least $300k a year.

Reply #56010 | Report this post


TR  
Years ago

Anon #55990...

"A deal done with the Government" and you trust them???? Next thing we'll see Rann and Wright kissing the centre circle at the Dome like it was a newborn baby.

Rule 1: never trust a politician,

Rule 2: Never trust a group of politicians.

Rule 3: Never trust a Government

Can you really see the SA Government walking away for whatever the outstanding amount is???

Something isn't just sitting right with this, and it isn't the wicked curry I had for lunch......

Reply #56012 | Report this post


Anonymous  
Years ago

If BASA don't sell the 36ers, the people looking to buy the sixers will get a 2nd NBL licence and with the money behind them, the sixers will die a slow death.

Everyone is better off with BASA not owning the sixers and them concentrating on the local comp.

Reply #56016 | Report this post


Anonymous  
Years ago

the NBL wouldnt approve a second team in the league, certainly not in a hurry.

Reply #56018 | Report this post


joshuapending  
Years ago

am i the only one that feels this could go all wrong. What if the private big runs low on cash? do they fold, not resign ou big $$$ players? i assume they would still play at the powerhouse but the could move from there to save cash again. I just think there is so many things that could go wrong, at least while they are with the BASA its a big corp thats harder to bring down, i do understand the stress the BASA and the 6ers place on each other but i think it could go really bad.

Reply #56021 | Report this post


Anonymous  
Years ago

said before i'll say it again basketball in this state can not support two nbl teams we are not big enough

just how many teams have gone under since the league began

canberra won 3 championships and folded

hobart gone
geelong gone
newcastle gone (hunter now but still struggling)
st kilda gone
west adelaide gone
eastside spectres gone
coburg gone
gold coast gone
melb magic gone
north melb gone
vic giants gone
bankstown gone

south aust at one stage had

36ers
wnbl teams north, west and noarlunga
seabl teams buffalos, mount gambier and woodville
wbc women's basketball conference teams
sturt, forestville, south, woodville
that is 11 teams playing in an interstate comp each week.

we now have two fellas and 36ers

Reply #56026 | Report this post


Anonymous  
Years ago

Time will tell.

Reply #56029 | Report this post


Thomo  
Years ago

gov will not erase the debt i can assure you that, after speaking with a mate of mine in the auditor generals dept.

in fact what i understood is that they would not look kindly on it being sold unless it incured at least 50% of the debt

im a big fan of basa and 36ers splitting but this just seems to good to be true which usually means it is unfortunetly i can see the 36ers folding if this where to occur

and the nbl has openly stated 12 teams is its ideal no. and from the commish mouth 2 teams in adelaide is not in there planning or viable



Reply #56036 | Report this post


Anonymous  
Years ago

If the presidents want to sell, then they should do the Vlahov and see who's interested. If the team is in the $2m vicinity, that is not out of reach of too many people. If only one buyer (eg, the current one) fronts after a public process, then so be it.

Reply #56038 | Report this post


Anonymous  
Years ago

1 - The NBL want a 14 yeam comp, look for Gold Coast and Tassie team coming in for 07/08.

2 - If BASA sell the 36ers, BASA should go bankrupt and give the keys to the Dome back to the Government. Do you think the Gov wnat this, NO, they will work out a deal that is best for all parties.

The deal that will be proposed to the Government will be accepted as they will get more money then what they get now from BASA.

Reply #56041 | Report this post


XY  
Years ago

Why is this under the heading 'KG & Cornesy'?

Boti Nagy has an article in the paper today. States that an unnamed backer is behind the bid, who at this stage only want to look at BASA's finances.

Reply #56055 | Report this post


Anonymous  
Years ago

George F parting with some of his millions or Gordon P again? Either could buy them with what they make in a day!

Reply #56059 | Report this post


Anonymous  
Years ago

i think he's got his finger in the soccer pie

Reply #56061 | Report this post


Regular Poster  
Years ago

Who's George F ?

I know who Pickard is .

Reply #56066 | Report this post


wak  
Years ago

http://www.nbl.com.au/default.aspx?s=newsdisplay&aid=2491

For story on nbl.com

Reply #56079 | Report this post


Anonymous  
Years ago

George F is not in with the soccer and not in to buy sixers

Reply #56080 | Report this post


egalitarian  
Years ago

Do not forget that there is a State election happenning in March next year. Governments looking for reelection become more generous in the run up to the poll and if they perceive the change as being popular may end up doing some good deals.


Isaac why not change the Title of this topic to relate to its content?

Reply #56084 | Report this post


Regular Poster  
Years ago

Yes, But WHO IS GEORGE F ?

Fiacchi ?

Reply #56089 | Report this post


Isaac  
Years ago

Probably George Flourentzou from Distinctive Homes.

Reply #56092 | Report this post


Well well well.

It looks like Anon #49299 was spot on the money when they questioned the motives of Belly and the Academy. This sort of deal would have been in the works for a while, hence Belly's refusal to answer some questions in the Basketball Academy Thread had founding.

I wonder if anon 49299 will appear again...

Reply #56095 | Report this post


Anonymous  
Years ago

You shit stirring little prick!
The Academy has nothing to do with this bid for the 36ers and its obvious that Belly is just a front man for someone else.
Crawl back into your hole and stop starting complete and utter bullshit.

Reply #56102 | Report this post


Anonymous  
Years ago

Isaac where did u get that idea from that George Flourentzou to buy sixers

Reply #56105 | Report this post


Anonymous  
Years ago

Wrong again G.Flourentzou is not bidding for sixers takeover

Reply #56107 | Report this post


Isaac  
Years ago

Someone asked who George F was referring to. I took a guess. Wasn't suggesting it was George who was behind the bid.

I know who the buyer is, and it's not Flourentzou or Pickard.

Reply #56109 | Report this post


Anonymous  
Years ago

Thanks isaac for clearing that up

Reply #56111 | Report this post


if you read the thread (the link is posted for your convience)

post (#49845) by #49299 "Which makes me think that then the motives are not what are seen."

post (#49870) by Anonymous "Can someone who knows Belly please ask him to answer those questions of #49299, as a further avoidance will only strengthen #49299's claim that he is hiding something, or has other motives"

If there is no link, or its a purly a coincidence, or i am reading into these threads too deep, just say so without resorting to name calling.

Reply #56112 | Report this post


Anonymous  
Years ago

the paper says something about Singh group, or signh business.

Could it be an Asian company looking to capitalise on Vlaholv's idea of Asian expansion?

Reply #56114 | Report this post


Isaac  
Years ago

It's a coincidence. I suggested to the buyer that he talk with Belly about his interests in the club and they went from there.

Nothing to do with The Academy.

Reply #56115 | Report this post


Anonymous  
Years ago

Singh group are the accountants acting on behalf of MVP to look at financials.

Reply #56116 | Report this post


easy. Thanks for clearing that up.

Reply #56118 | Report this post


Moses Guthrie  
Years ago

So Madonnacant Singh and Rubbish Binny aren't part of the buying group? Shame that - would've looked forward to seeing Olaf Slimdusty and Harfaduzzen Marzbarz in the board room with them!

Reply #56127 | Report this post


Avanti  
Years ago

'I suggested to the buyer that he talk with Belly about his interests in the club and they went from there"

So you are the missing link in the grassy knoll, Isaac???

Reply #56137 | Report this post


Anonymous  
Years ago

interesting to note, when you google Singh Business Services it comes up with a Canadian Site.

What Adelaide businessman / businesswoman has connections in Canada...

Isaac, obviously your keeping tight lipped, any word on when us mere mortals will know more details?

Reply #56143 | Report this post


Isaac  
Years ago

Google for Singh and there are 25.3 million results. I'm sure there are a few Singh's servicing businesses around the world.

The one you're after is a guy in Adelaide. Nothing dramatic to reveal there, sorry!

They've requested financial information that the Sixers haven't provided in the past. That has to get approved at some executive-level meeting. They'll go through that when they receive it.

I imagine that they'd have more of an idea as to the feasibility over the coming months.

Not very exciting yet. For now, keep the focus on the current team and the 2005/06 campaign, IMO.

Reply #56145 | Report this post


Anonymous  
Years ago

i think i can remember a story in the media a few months ago about leyton hewitt being interested in buying the sixers because he is such a big fan!! i think it would be great for basketball in the state. they cant do it much worse than BASA

Reply #56203 | Report this post


joshuapending  
Years ago

but my worry is once its private the ability for the club to get into a situatin where it could fold is a lot higher. How many people say we are aware we will make a loss for a while but the cash is just too much and they fall apart.

Reply #56209 | Report this post


Anonymous  
Years ago

I hear what your saying but what we need to be aware of is how dire the financial state of the club is in now!

Reply #56211 | Report this post


EC  
Years ago

Isaac, its not you the secret bidder for the Sixers is it? It wouldn't take much to come up with 1 million. A talented, wealthy business man like you could easily do it. If you need some financial assistance I wouldn't mind going into partnership with you. We have 2 things in common, a passion for the Sixers and lots of money. Lets do it.

(Mod: I don't have "lots of money"! Don't buy into that joke about the Ferrari, though it is a funny running joke.)

Reply #56219 | Report this post


Thomo  
Years ago

i think its a big concern that if made private it could fold within 5 years,

people forget its going to have incur a substantially large portion of the BASA debt,

also believe that basa would have to gain approval from the Auditor generals department on any sale - remember reading this in the report last year,

understanding is debt that would be transfered would be in the order of 50% plus

even though i have doubts, mainly because have seen other clubs fold that have been successfull , eg cannons

but i still believe a new owner is needed maybe another option can be attempted like the on banted around last year, basa sixers split become seperate entities but government still has partial ownership of each organisations until debt can be repayed - now that scenario would add stability to a new owner as the gov would not demand that initial debt up front like if it was just sold off therefore giving the new owners time to set up and establish there practices and structure whilst not worrying about the immediate financial concerns that it would carry,

on the other side BASA would still have the government as a partial controlling body ,like it does now, and with a substancially lowered debt it will have freedom to do more whilst like the sixers not worrying about the debt immediatly but be able to put forward new strat and plans to not only improve the game but also reduce the debt

either way i think the next days weeks will be exciting

but i think we all need to think about 3 - 5 years which will be critical for the new owners

any one who hasnt readt the auditors report do so it can be found on the gov site

its worth a read cause there is a provision in there on new ownership and what must happen

Cheers

Reply #56221 | Report this post


Anonymous  
Years ago

Thomo,

What does it say about a new owner?

How much do BASA owe the Gov for the Dome?

Approx how much is the Dome worth?

Reply #56235 | Report this post


thomo  
Years ago

Anon, have emailed friend in the relevant department should have a rough guestimate figure shortly

Reply #56281 | Report this post


Isaac  
Years ago

Selected quotes:

On 14 August 2000, Cabinet approved a partial writeoff of BASA's loan... culminated in a partial writeoff and restructuring of the original inflation indexed loan to a credit foncier loan of $11 million, with instalments payable half-yearly over 20 years to 30 June 2020.

(proposal:) effective 30 June 2002 the Association be completely relieved of its debt obligation to the Government ($10.595 million)

Under the August 2000 Cabinet approved arrangement, BASA would receive $500 000 in ongoing grant assistance. Under the revised offer arrangement, BASA, for the ensuing five years from 2002-03, would receive $1 million in financial assistance, comprising annual waiver of interest on the Findon Basketball Stadium loan of around $750 000 and the continuation of the concert compensation grant of $250 000. In addition, deferral of principal payments on the loan until its maturity in 2020 would result in an additional $250 000 per annum cash flow available to BASA.
Given that the payments have been waived since that period, you'd assume the loan to have remained the same.

Reply #56284 | Report this post




You need to be a registered user to post from this location. Register here.



Close ads
Serio: Tourism photography and videography
Little Streaks - The fun and interactive good-habits app designed especially for kids.

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

Recent Posts



.


An Australian basketball forum covering NBL, WNBL, ABL, Juniors plus NBA, WNBA, NZ, Europe, etc | Forum time is: 7:57 am, Fri 29 Mar 2024 | Posts: 968,026 | Last 7 days: 754