Firepower Debts

[travelling_gerry]

A list of Firepower debts has been included in an article in todays West

Some of the detail here....

But on page 7 more detail including

people owed are

Matt Giteau $55,000
Ryan Cross $41,250
Cam Shepherd $27,500
Scott Staniforth $13,750

Rugby WA $55,000
Nedlands RUFC $ 45,000

[Flamethrower]

What happened to the hundreds of thousands that were implied being owed to the Force and the players.

That's ashtray coin in the business world.

[Flamethrower]

Among that company’s creditors are Western Force stars Matt Giteau ($55,000), Ryan Cross ($41,250), Cameron Shepherd ($27,500) and Scott Staniforth ($13,750).

Others owed money are Russian Rugby ($251,294.70), Rugby WA ($55,000), Nedlands Rugby Union Football Club ($45,000), Tasman Rugby Union ($77,019.60), Tonga Rugby Football Union ($71,875), Steve Waugh Foundation ($24,000), Sydney Kings Syndicate ($265,073) and Tasman Motorsport $175,000.

Another Firepower Group company is owed $6.8 million, Mr Johnston’s company Green Triton is owed $6.24 million, Mr Hill’s company $86,800 and Michael van Rens Financial Services is owed $42,072.

More here.
Firepower rescue hope ‘months off’ : thewest.com.au

[BLR]

Wow, looking at those figures it seems we've been done by another SMH job. What was our profit last year?

Storm in a bloody teacup.

[jono]

shit, thats a lot of debt...
but its not as bad as we were led to believe.
your right BLR, our profit is going to cover that

[TOCC]

What happened to the hundreds of thousands that were implied being owed to the Force and the players.

That's ashtray coin in the business world.

the debt is actually hundreds of thousands

[Thequeerone]

about $250,000 was expecting it to be higher - the biggest loser would seem to be Nedlands - least able to afford it. Think we got of lightly compared with the shareholders

[NTT]

the debt is actually hundreds of thousands

Which debt? The total of all Firepower debts yes.
Western Force debts total $55000 and a lost sponsor which will no doubt be replaced by a new sponsor.
The debts to players is not as severe as we've been led to believe. Some allegedly responsible and ethically sound newspapers were claiming Giteau was owed up to $500000+ Cross $100000+ and what happened to the alleged $300000+ drew mitchell was owed?
The debts to players is an issue to be laid at the feet of the players managers as they are the ones who negotiate 3rd party deals which Firepower have nearly totally met to date. Seeing as no players have left, has this witch hunt really been worth it? In newspaper sales only i suspect.

A witch hunt? yes .... Eastern states bias? yes .... End of RugbyWA? no

[TOCC]

Which debt? The total of all Firepower debts yes.
Western Force debts total $55000 and a lost sponsor which will no doubt be replaced by a new sponsor.
The debts to players is not as severe as we've been led to believe. Some allegedly responsible and ethically sound newspapers were claiming Giteau was owed up to $500000+ Cross $100000+ and what happened to the alleged $300000+ drew mitchell was owed?
The debts to players is an issue to be laid at the feet of the players managers as they are the ones who negotiate 3rd party deals which Firepower have nearly totally met to date. Seeing as no players have left, has this witch hunt really been worth it? In newspaper sales only i suspect.

A witch hunt? yes .... Eastern states bias? yes .... End of RugbyWA? no

haha, settle down precious, i was just pointing out that the money owed to WA rugby associates was in fact in the 'hundreds of thousands'...

[NTT]

fair call TOCC
I'm just getting a bit sick of the implications that the Firepower situation is attributable to some perception that RugbyWA diliberately sought a failed sponsorship from Firepower to set the Western Force up and use illegitimate means to recruit players to ensure a bit of respectablility in an AFL dominated state.
I mean Firepower offered, RugbyWA accepted is really all that happened. If this collapse was forseeable then we wouldn't be here discussing this.

[brokendown gunfighter]

as I understand it the Nedlands Debt was unpaid sponsership for the 2007 season

[Flamethrower]

Yeah good call TOCC.

This article We'll survive debt firestorm: Force - rugbyheaven.com.au wouldn't have had anything to do with my comments.

Do some research before you try and pull the piss.
The amounts that have been stated today are vastly different.

[TOCC]

NTT, thats fair enough, I just get frustrated when theres a big uproar about a 'eastern state bias' or hate trial going on. I mean its pretty ludicrous considering that it was the eastern states unions(me included) along with the ARU that supported the inclusion of the 4th Australian franchise.
Not only that, everyone always refers to the 'eastern states' as the ones trying to discredit the Force, when the only articles i read like that are from a Sydney Newspaper, i cant think of to many articles about firepower coming from The Courier Mail.

Yeah good call TOCC.

This article We'll survive debt firestorm: Force - rugbyheaven.com.au wouldn't have had anything to do with my comments.

Do some research before you try and pull the piss.
The amounts that have been stated today are vastly different.

there is nothing incorrect with what i wrote, it was a direct reply to what you said

as for the other stuff i have started:
-I said Habana is nothing without his speed
-Mortlock is still a better player then Crossy until Crossy has proven himself in a dozen or so tests
and, what other provocative stuff have i said today?

[laura]

NTT, that’s fair enough, I just get frustrated when there’s a big uproar about an 'eastern state bias' or hate trial going on. I mean it’s pretty ludicrous considering that it was the eastern states unions(me included) along with the ARU that supported the inclusion of the 4th Australian franchise.
Not only that, everyone always refers to the 'eastern states' as the ones trying to discredit the Force, when the only articles I read like that are from a Sydney Newspaper, I cant think of to many articles about firepower coming from The Courier Mail.

Nothing about the inception of The Force, was brought in to this discussion previously, and as a West Australian, I am extremely grateful that the decision to create a 4th Australian franchise was given the go ahead. I do however think that had WA not have provided such a compelling case, as to why we should have the franchise, we would not have got it and Victoria would have been immediately given the franchise.


After googling firepower+force+articles here's what I got from the first 2 pages of results and following some links...

From Melbourne:
Crikey - Rusty sacks Firepower, Force still take their coin - Rusty sacks Firepower, Force still take their coin


From Sydney:
Force board member joins queue of players burned by Firepower
Force cut their losses and take Firepower failure on the chin
Western Force losing firepower The Roar - Your Sports Opinion (includes input from SMH's own Spiro Zavos)
http://www.smh.com.au/cgi-bin/common...492641628.html
ASIC told Firepower | The Daily Telegraph

From Queensland (The Courier Mail):
Developer from Firepower | The Courier-Mail
Firepower director to address creditors by phone | ourbrisbane.com

From Canberra:
Firepower deal sparks probe into diplomat - Local News - News - General - The Canberra Times


From Adelaide:
Regulator takes aim at failed Firepower | Mercury - The Voice of Tasmania

From our own beloved state:
Firepower debacle hits Matt Giteau, Western Force | PerthNow
ASIC Firepower legal action
Firepower reveals $16m of creditors
ASIC let Firepower warning slide | watoday.com.au

From South Africa:
Firepower puts Force in a spin - Mail & Guardian Online: The smart news source

From various websites, predominantly based in the Eastern States:
Super14.com - Super 14 rugby
Business Spectator - ASIC sues Firepower, bids to ban owner
Fuel tech company Firepower investors 'in dark' | The Australian (from the Australian, based in the Eastern States)
Business Spectator - ASIC acts on Firepower disclosure
Four Corners - 21/07/2008: Program Transcript (transcript from the ABC program, Four Corners)
Australian Business News
Austrade 'boosted failed Firepower' - ABC News (Australian Broadcasting Corporation)


I have come to the conclusion that, Queensland does not have as much of a grudge against the Western Force; however there is most definitely an Eastern State's prejudice against the Force. There is no denying, after reading the articles (or even just seeing where they originate), that a number of Sydney based journalists have something against the Force and at just about every opportunity feel the need to start scandalous rumours. They are proving their animosity, toward the Force, by challenging the credibility and dishonouring them publicly.

What happened to the hundreds of thousands that were implied being owed to the Force and the players.
That's ashtray coin in the business world.

the debt is actually hundreds of thousands

Your response is valid and addressed the point made by Flamethrower but he was referring to the fact that we were led to believe (by SMH) that the indiviuals were owed $100,000+ each and the total debt to West Australian Rugby would be in the millions of dollars. As a result of recent publications, and the title article of this thread, we now know that the total owing to WA Rugby is only around the $250,000 and the amount owing to individuals is less than $100,000 each.

[gotheforce]

wow. u've done ur homework. impressed mate. and im on neutral ground.
best to do is just ignore it all and wait for official releases.
something u learn when u take journalism as a major.