Benny Elias Looking to buy Wests Tigers

[TwinTurbo]

Legend's secret bid to buy embattled Wests Tigers

The $10m plan to revitalise NRL strugglers

wwos.nine.com.au

Balmain Tigers great Ben Elias and a financially backed consortium have reportedly held secret meetings to discuss buying a majority share in the struggling Wests Tigers for up to $10 million.


Go Dogs

 

[Papa Emeritus]

Well this would just add to his portfolio. He owns the derelict Leagues Club which he paid $1 for (he took on the debt the club owed as well though).

 

[Wahesh]

Well this would just add to his portfolio. He owns the derelict Leagues Club which he paid $1 for (he took on the debt the club owed as well though).

He also did well (made millions) in retail phone marketing.

 

[fiordog]

Well this would just add to his portfolio. He owns the derelict Leagues Club which he paid $1 for (he took on the debt the club owed as well though).

Is he the one that's putting it back on the map? Recently I've seen the construction fencing go up saying 'Balmain Leagues coming soon' or something like that on Victoria Rd..

 

[The DoggFather]

I wouldn't buy them for 10k...

 

[B-Train]

How does $8-$10 million only get a slight majority of ownership? I can't see how the Tigers of all clubs are valued at $20 million unless there are other assets involved. They'd be losing money every year so I don't see where that valuation comes from.

Especially when Crowe and Holmes-a-hyphon, Tinkler and Penn have bought near full ownership of bigger clubs for a lot less over the years.

 

[Papa Emeritus]

Is he the one that's putting it back on the map? Recently I've seen the construction fencing go up saying 'Balmain Leagues coming soon' or something like that on Victoria Rd..

It is a long and complicated story. In short the club wanted to upgrade and there was constant dramas with approvals. Residents complaining, council issues, potential to use site for a tunnel etc etc lots of shit kept fucking that site up.

But the important thing to know is that Benny and his consortium own it now and there is a stipulation that means whatever happens to the site, it HAS to include a club. So perhaps something has finally been approved if things are moving on site recently.

Balmain tigers still operate 2 club licences that are doing well money wise (maybe not as good as Wests 2 clubs but they pull their weight these days) and I think one of those licenses will transfer to the new club when it is built.