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SBD Global/August 20, 2013/Franchises

National Rugby League Club Wests Tigers Need Quick $910K Cash Injection To Survive

National Rugby League side Wests Tigers "need an urgent cash injection" of A$1M ($910,000) to survive -- something powerful stakeholder Wests Ashfield "will only provide in exchange for control of the joint venture's board," according to Andrew Webster of the SYDNEY MORNING HERALD. The embattled club "has come to the most critical crossroads of its turbulent history, with the Magpies side of the partnership no longer prepared to provide funding without greater control." While they "steadfastly want to remain in partnership with cash-strapped partners Balmain, Wests have demanded an extra director on a reduced nine or seven-man board and the chairmanship for the next three years in exchange for new funding to remain solvent." Wests Tigers Chair Mike Bailey -- who is also chairman of Wests Ashfield -- said on Monday night, ''I don't know what Balmain's view is today, but we live in hope that good sense will prevail and the need will be recognized for the sort of money we're contributing and that the club can flourish. We've asked for Balmain to address this by the end of the week" (SMH, 8/20).
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