CakeEater
Brownlow Medallist
Well, its confirmed then, Marco Bresciano to Victory on loan
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Weekly Prize - Join Any Time - Tip Round 9
The Golden Ticket - MCG and Marvel Medallion Club tickets and Corporate Box tickets at the Gabba, MCG and Marvel.
About damn time.
Pelligra Group confirmed as new owners of Perth Glory FC
Perth Glory is delighted to confirm Pelligra Group as the club’s new owners. A private, family-owned and operated property developer and construction business, Pelligra Group has expanded its breadth of developments with particular focus in the sports and entertainment sectors,...perthglory.com.au
Castro retiring really sucked the value out of the club then.Perth Glory rescue netted just $1 upfront, Supreme Court told
Matt Mckenzie
The West Australian
Tue, 2 April 2024
The rescue bid to save the Perth Glory from collapse cost just $1 upfront, the Supreme Court has heard.
But the new owners are set to spend upwards of $20m rebuilding the club over five to 10 years and are believed to have forgone a valuable equity share in the A-League to get the deal across the line.
The previously confidential price tag was claimed in an affidavit lodged in a Supreme Court fight between former Glory chairman Tony Sage and investor Kakka Enterprises.
Kakka has been seeking to wind up Mr Sage’s business Okewood Holdings since October, after Okewood’s prize asset — the Glory — was sent to receivership in July.
Victorian businessman Ross Pelligra led a move seven months later to save the club after an earlier buyer’s proposal fell over.
Mr Sage is expected to receive no cash from the deal, despite Okewood claiming $33m of debts from the Glory. Australian Professional Leagues, the A-League’s parent, had wanted about $5m, regulatory filings showed.
The APL business has had troubles too, with headcount slashed this year.
There will be plenty of work ahead for Mr Pelligra. That has included finding the club a new home.
“I believe in the club. I believe we can turn it around,” he told The West Australian on Monday. “The whole community, I can feel the fight inside them.”
KordaMentha, which acted as the Glory’s receivers, declined to comment because the matter was before the court. Receivers had seized Mr Sage’s shares in a series of public companies but have now relinquished control.
Mr Sage had a recent win with a huge deal to take the key asset of his European Lithium business onto the Nasdaq.
Paellas aren't cheapCastro retiring really sucked the value out of the club then.