News Former Major Partner - GFG

[Workingclass]

I think it's reasonable to expect something lined up by round 1.

Aussie ATM. It's my ATM.

 

[Enviable Tradition]

In all seriousness, what is he supposed to say at the time?

Until things go belly up, it's very much a case of "everything's fine." This applies to pretty much every sponsorship for any team. Port were never going to back out of GFG's sponsorship until the point of no return, which was clearly this morning.

The bigger question is how quickly Port pivot to replace the money from GFG's sponsorship. An astute sporting Club would have a few contingencies lined up. That is not to say any of us should expect a replacement sponsor by tomorrow morning, but I think it's reasonable to expect something lined up by round 1.

Koch said in this mornings paper that we have had multiple companies enquiring about being a major sponsor. I guess we will find out if that is true.

 

[PAFC66]

The financial guru got scammed.
Serves him right for scamming us.

 

[JimmyBC]

Koch has plenty lined up here's the frontrunner.

 

[Chewy316]

There's a huge middle ground between what they said and blowing up the relationship in a way that looks shit to future sponsors


To argue or think otherwise is obtuse

So how would have you framed it had you been in the club's position?

 

[Doctor Feel]

So how would have you framed it had you been in the club's position?

Sack Hinkley and Bitcho I reckon.

 

[simba_]

the league should just give us Subaru. they give everyone else cushy car manufactures for 100 years. Toyota own 20% of Subaru and sponsor the entire league and the Crows, just give the other SA team Subaru and be done with it. In conclusion give us Subaru.

 

[Bump Bailey]

Koch said in this mornings paper that we have had multiple companies enquiring about being a major sponsor. I guess we will find out if that is true.

Rumour has it Barnacle Bills and Seaton Pizza Bar are vying for top billing, it's neck-and-neck at the moment

 

[Doctor Feel]

Ill sponsor with my life insurance. 1m for a sack hinkley sponsor. How could they say no?

 

[bringbackbucky]

the league should just give us Subaru. they give everyone else cushy car manufactures for 100 years. Toyota own 20% of Subaru and sponsor the entire league and the Crows, just give the other SA team Subaru and be done with it. In conclusion give us Subaru.

The Toyota dealers of Adelaide sponsor the Crows, not Toyota themselves.

 

[Alberton Proud]

Couple of Iron on Transfers
Problem solvered !

 

[MrPlow]

The professional BS’er got BS’d

 

[malcheski]

the league should just give us Subaru. they give everyone else cushy car manufactures for 100 years. Toyota own 20% of Subaru and sponsor the entire league and the Crows, just give the other SA team Subaru and be done with it. In conclusion give us Subaru.

The only Subaru we would get is that unhinged thing from the other board

 

[chiwigi]

Yeah not surprisingly. But Imagine the neighbours seeing the fraud sunning himself on a Sydney balcony.......you'd have to call him out? Neighbours would know who's house it is. He's been run out of South Australia today like the criminal he is, must be run out of Australia like a few other countries. He's leaving a trail of destruction. I'm stunned how he sleeps at night, waiting for that hit man.

His neighbours will have similar business practices.
It’s how you get stupidly rich.

 

[Doctor Feel]

**** this scene gets me every time and makes me think of Koch and Bitcho

 

[Holden Hillbilly]

PM says Whyalla's $2.4 billion package will ensure 'your kids will have a job'

Prime Minister Anthony Albanese tells Whyalla steelworkers a $2.4 billion support package is an investment in a city whose "arteries spread out right around the country".

www.abc.net.au

 

[RussellEbertHandball]

Listening to the presser conference with Albo and Mali, Port might see some money out of the relief package.

Creditor Assistance payments, portion of the package is worth $50 million out of the total package.

The way I understood it, was that many, but not all creditors that had outstanding unpaid invoices totalling $5000 or more, would be offered to be paid 50 cents in the dollar of outstanding unpaid invoices by the state government relatively quickly, and for that, those creditors would transfer their right to receive a distribution from the Administrators to clear the $500m of outstanding GFG debts, to the state government

So if as I said yesterday the club would be doing well to get 10 cents in the dollar over a couple of years, it means the state government would be paying a net 40 cents in the dollar to creditors over that period.

But the devil will be in the detail and who gets access to this $50m Creditor Assistance payments.

 

[Alberton Proud]

I can see the headlines now

Poort get yet another government handout

 

[Festerz]

Listening to the presser conference with Albo and Mali, Port might see some money out of the relief package.

Creditor Assistance payments, portion of the package is worth $50 million out of the total package.

Someone posted in this thread previously, not sure who, that our sponsorship deal is with Gupta himself and we would not be regarded as a creditor. Have no idea myself but I have to say the idea of a footy club being bailed out by SA taxpayers on a dud sponsorship deal would not fit the infamous pub test.

I also listened to the presser on my way to Salisbury. What I was impressed with was the commanding control Malinauskas had of the brief and its details. He was able to shut down some of the negative comments from Sky and Seven reporters with calm facts rich details of what the assistance package was, why it was provided and what it meant for both the people of Whyalla and the broader SA and Australian economy.

For example, when a question was asked as to why the Federal and SA Governments were bailing out GFG - he quickly pointed out that the payments were not to GFG but to the businesses and workers who had carried on supporting the steelworks and paying workers, despite not getting paid by GFG. It was a masterful performance that made Albanese look a bit weak and uninformed.

Talk about Malinauskas going into Federal politics, which I've previously scoffed at, will be gathering a lot of momentum after today's Whyalla Press Conference.

 

[Rexie J]

Listening to the presser conference with Albo and Mali, Port might see some money out of the relief package.

Creditor Assistance payments, portion of the package is worth $50 million out of the total package.

The way I understood it, was that many, but not all creditors that had outstanding unpaid invoices totalling $5000 or more, would be offered to be paid 50 cents in the dollar of outstanding unpaid invoices by the state government relatively quickly, and for that, those creditors would transfer their right to receive a distribution from the Administrators to clear the $500m of outstanding GFG debts, to the state government

So if as I said yesterday the club would be doing well to get 10 cents in the dollar over a couple of years, it means the state government would be paying a net 40 cents in the dollar to creditors over that period.

But the devil will be in the detail and who gets access to this $50m Creditor Assistance payments.

When the sponsorship was announced at an AGM, Gupta was there and stated he was personally sponsoring Port Adelaide and GFG were not involved.

Shall be an interesting outcome.

 

[RussellEbertHandball]

As quickly and decisive as the Malinauskas government has acted the last week or so, this coordinated approach has ex Liquidator/Administrator and state's Mr Fix It, Bruce Carter's hand prints all over it. Bruce was at yesterday's Malinauskas presser in the background, with a very stern serious look on his face during all of the presser. Think he took some questions from the assembled media.

He has been chair of the government's Steel Task Force since it was set up in 2015. he has been chair of ASC since 2012, before that had been chair of state government's Economic Development Board, several other state and federal government boards/committees and plenty of corporate boards. He wont get much public acknowledgement, but here is a little bit Bruce.

 

[RussellEbertHandball]

Someone posted in this thread previously, not sure who, that our sponsorship deal is with Gupta himself and we would not be regarded as a creditor. Have no idea myself but I have to say the idea of a footy club being bailed out by SA taxpayers on a dud sponsorship deal would not fit the infamous pub test.

When the sponsorship was announced at an AGM, Gupta was there and stated he was personally sponsoring Port Adelaide and GFG were not involved.

As we have learnt from many prior statements by Gupta, what he says and what he does, doesn't always line up.

If this was Gupta's personal monies that he owed, then it would not have been published in that list of creditors by the Advertiser. It might have started as a personal deal, but Gupta being Gupta, he would have changed things from a personal cheque payment to a corporate one.

 

[Enviable Tradition]

Someone on the Crows board claims the replacement is RedBull.

 

[VineValerian]

Someone on the Crows board claims the replacement is RedBull.

Bull.

 

[manureid]

RB Portz