INJUNCTION GRANTED | Parramatta Eels have issued the following statement after today's drama includi...
31 hours ago
There is evidently much emotion surrounding the upcoming members' vote on the Tinkler Sports Group (TSG) privatisation proposal.
Such is as a consequence of our members and supporters passion for their Football Club coupled with a desire to see the best outcome for the Club and its future.
It is important that members take the opportunity to inform themselves fully as to the commercial and non commercial aspects of the TSG proposal as they may impact the Club.
The explanatory memorandum which the club has provided to members evidences the positives associated with the commercial benefits which are anticipated to be derived from the TSG proposal. The memorandum also evidences risks associated with the proposal.
As I understand it, TSG representatives have been actively sharing their views of the non commercial benefits of their proposal to member groups and will continue to do so up to the date of the vote.
There has also been much talk recently of prospective alternatives to the TSG proposal.
It is important I remind you what the alternatives are: a continuation of the status quo (which is not to be contemplated) and a Patrons Trust proposal (which is an inferior financial proposal).
Over the previous three years the board has actively pursued alternative funding opportunities as it is our view that the status quo is not tenable in the medium to long term.
A Patrons Trust model has not been contemplated by the Club since the TSG reinstated and amended their proposal on 23 February so as to satisfy those concerns the Board had of the TSG draft proposal at that time.
On 3 March the Knights Board - in the majority - endorsed the TSG proposal and recommended it to members for their support at a vote on 31 March.
The Board believes that TSG proposal is a superior financial proposal to the alternatives and offers an outstanding commercial opportunity to members.
On the basis of the commercial benefits as are anticipated to extend to the Club the Board is recommending your support of the TSG proposal.