General Discussion Eric Watson

Discussion in 'General Warriors Discussion' started by ToiletDuck, Feb 17, 2013.



  1. Mr Frank White
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    Mr Frank White 1st Grade Fringe

    Lol you mind need to do finance 101.

    EW like most high flyers is probably leveraged up to his eyeballs.

    Worth is calculated on assets, not all of it is liquid. Ie if he owns 25% of a 40million company, it might seem like 10mil on paper, but if that company owes debt, or the money used to purchase those shares is borrowed, it isn't worth anything near that.
    Or he may have loaned money on a project, that hasn't capitalised.

    Very few wealthy people have 100% liquid cash in the bank.
     
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  2. mt.wellington
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    mt.wellington ABOVE THE LINE

    Thank you. So you do admit he put money into the club and saved it from ruin. Took you long enough...
     
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  3. jonno
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    jonno Warriors 1st Grader

    Year but isn't this money Glenns fighting for already in a cash account? I thought I read that somewhere.... Maybe I'm mistaken.
     
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  4. Mr Frank White
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    Mr Frank White 1st Grade Fringe

    Sometimes before a trial, a judge will hold assets in escrow
     
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  5. bruce
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    bruce Warriors 1st Grader Contributor

    Maybe, but my understanding the Warriors is one of the few clubs to actually make a profit. I don't know but most people who know him would be surprised to hear of such charity, just ask anybody who has taken legal action against him. Glenn isn;t
    Underwriting is not actually paying money. It just meant he has to guarantee the club. With the cash flow that wasn't a problem. Nobody in the game back then shared your view brother. Get over it and move on.
    Exactly, and that is why they tumble when things get tight. His bankers might have squeaky bums right now.
     
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  6. ¿N. ig-mah¿
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    ¿N. ig-mah¿ Warriors 1st Grader

    Just because they make a profit, doesnt mean they are making enough to function well. Club upgrade, maintanence, etc wont neccessarily be deducted before profits are announced because they arent absolute neccessities. So they can make a profit and still require input
     
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  7. bruce
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    bruce Warriors 1st Grader Contributor

    The club was a viable enterprise. The management prior to Watson had problems that led to a financial collapse. Watson got the club for free, he didn't even have to pay the owed wages. So Watson did not bale out the club so did not save the club. If necessary the NRL would have stepped in to save their TV income. Watson was just a convenient suit to underwrite the club...end of story.

    I find it an embarrassment that he is even linked to the club and the game.
     
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  8. ¿N. ig-mah¿
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    ¿N. ig-mah¿ Warriors 1st Grader

    I think your quoting facts that you havent proved. I really dont believe he got the club for no money, AND took no debt. There would have been a financial contract as good as money, if no one gave or took money. I dont like the guy, but i guarantee your details about him being gifted the club without the liabilities is a skewed or wrong fact.

    But if you have the facts to back your statements, by all means post them and i will take back what i have said. But by the way, a viable enterprise is not the same as a self-financing organisation. You have made a large leap from what i said.
     
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  9. ¿N. ig-mah¿
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    ¿N. ig-mah¿ Warriors 1st Grader

    Nah. Im fine. Quite comfy here. And your the one trying to convince people. Im sure if they said it in an AGM, then there were minutes taken. Seeing as you were there, im sure you know how to find them. If you manage to find the proof i cant be bothered looking for, post it up and i might read...if its not too long.

    Im having fun watching you trying to dominate the long-term tenants, with your total knowledge of everything. They had to deal with far worse than you. Hell, up until a couple of years ago, they had to deal with me. Im practically part of the furniture.
     
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  10. gREVUS
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    gREVUS Long live the Rainbows and Butterflies

    What do u mean up till a couple of years ago? Some of us still know who you are. Your not quite rotting to bits in the corner. Yet.
     
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  11. mt.wellington
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    mt.wellington ABOVE THE LINE

    Talking shit and trying to rewrite history once again there brucey.

    The cash flow was Eric Watson. He has been quoted as saying for the first two years he wrote out cheques for a million dollars each season to prop the place up.

    Get over your hate of the guy and move on. Maybe to a nursing home...

    Wait oh, I thought you posted that Graham Lowe said the Warriors had great cash flow? Hmmmmmmm someones talking shit...

    NZRL should have been discussing how they ruined league in this country for good when they blew the Super League cash cow they had. Were you discussing the All Golds Foundation with the rest of your incompetent mates bruce? Were you guys discussing the Department of Internal Affairs inquiry into your pokie fund fraud? Were you lining your own pockets like Sel Bennett, Brent Todd, Wayne Morris or just about anyone involved in that place was in the early 2000s? As I said before, you only have yourself and your mates to thank for ruining the game here in NZ...
     
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  12. bruce
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    bruce Warriors 1st Grader Contributor

    Where is that quote? Post it, go on. Graham Lowe never went public with his side of the story.

    also read this from 2002 : Link has been hidden. Please Register to view.
    Two years later, the club has made a small profit and is predicted to make a healthy one for the 2002 year. (Mick Watson says the club was the NRL's top performer financially this season and third last year but he won't reveal the figures). But former Warriors board member and Kiwi league international player Dean Lonergan reckons if the team continues to play well, the club could make between $3 million and $5 million profit in the next season.

    Revenues of around $12 million come from sponsorships, gate and season ticket sales, along with a $2.5 million annual NRL grant. This season, crowds averaged 16,000 a match, with a capacity 23,000 crowd for the last home game, as against 13,000 the year before and 8000 in 1998. Some sponsors are signed on until 2004 or 2005.

    Careful about what you say. I never received any money for the work I did for the league, neither did most of the people I knew. I helped out because I was asked. Yes there were a few hard cases involved in the game back then, however there were actually far more honest people doing their bit for nothing, including the Chairman. I moved on and so did most of them unfortunately. You mention the Super League payment. That was Graham Carden's effort, he is probably worth a thread on his own.
    Source???
     
  13. mt.wellington
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    mt.wellington ABOVE THE LINE

    Quoted by yourself...

     
  14. bruce
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    bruce Warriors 1st Grader Contributor

    Read it.
     
  15. Mr Brownstone
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    Mr Brownstone 1st Grade Fringe

    Oh the irony... Once again preaching on a subject that you are clueless on.
     
  16. BeastMode
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    BeastMode Warriors 1st Grader

    Floyd Mayweather does.

    He carries it in a gucci school bag
     
  17. matiunz
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    matiunz 1st Grade Fringe

    The club was dead, without Watson the club was gone. Wether you love him or (obviously in your case) hate him who else was lining up to save the club? Regardless of motives or intentions we owe him gratitude for that in the very least
     
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  18. Miket12
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    Miket12 Warriors 1st Grader

    Whether or not Watson paid any money to purchase the club or if he purchase it, if he paid less than it's value, I don't know.

    But, I have heard from players and suppliers to the club that money was very slow in coming before Watson took it over due to lack of cashflow.

    After he took over, those problems seemed to disappear suggesting that Watson at least put capital/cash into the club to keep it going. Without that cashflow, the club most likely would have folded sooner rather than later. In my opinion, if he just provided money to give the club a positive cashflow, Watson prevented the club from becoming insolvent and did save the club.
     
  19. bruce
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    bruce Warriors 1st Grader Contributor

    Lack of cashflow can be caused by many things. Think about it.
     
  20. Miket12
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    Miket12 Warriors 1st Grader

    And think what happens when there's a lack of cashflow - either more money needs to be pumped into an enterprise or sooner or later those who are owed money call in the receivers.