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Thread: Own the Force

  1. #451
    Player terrycobner's Avatar
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    Quote Originally Posted by WF1964 View Post
    Anyone know what happens to the Own The Force money now?
    Was going to ask the same. Could do with a refund!

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  2. #452
    Immortal GIGS20's Avatar
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    According to the prospectus, it needs to be returned to the investors minus costs.

    Not sure whether there can be an adjustment to that, but that would only be an option if the target had been met, surely they haven't had a single taker since the Force died.

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    C'mon the

  3. #453
    Champion valzc's Avatar
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    Unless Twiggy converts it into the new team financial structure? I'm happy for it to be used in the new one - it's a good business idea if it can be applied to this one.

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  4. #454
    Player yungfen's Avatar
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    Quote Originally Posted by valzc View Post
    Unless Twiggy converts it into the new team financial structure? I'm happy for it to be used in the new one - it's a good business idea if it can be applied to this one.
    Unfortunately that wont be possible Val as it was not on the prospectus and ASIC is very strict with these things; so money will have to be reimbursed (Invested amount less legal cost) but a new one could be set up for the new team (possibly still Western Force if we get our IP back) I for the new comp.

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  5. #455
    Legend Contributor blueandblack's Avatar
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    I thought it was for buying our IP back (and funding the club further).

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  6. #456
    Player yungfen's Avatar
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    This is straight from the Chairman's letter on page 7 of the prospectus, so don't think it can be used for a different comp:

    The Company’s primary objectives are to successfully operate and manage a Perth
    based professional rugby union team in the Super Rugby competition and to assist
    RugbyWA to develop and promote the sport of rugby union in Western Australia.
    The Company currently does not own or operate the Western Force team. The purpose of
    this Public Offer is to raise capital to seek to secure the operating license of the Western
    Force from the Australian Rugby Union together with the necessary assets to enable
    the Western Force to secure its on going participation in the Super Rugby Competition.
    And in doing so, allow the general public an opportunity to be directly involved in the
    ownership of the Western Force.
    Whilst the Company has approached the Australian Rugby Union in respect of the
    proposed acquisition of the operating licence and assets, no firm agreement has been
    entered into, and there is no commitment at this stage by the Australian Rugby Union
    that it will in fact transfer the relevant licence and assets to the Company, or the terms
    on which such a transaction may proceed. However, a successful completion of the
    “Own the Force” campaign is in the Board’s view, the strongest signal we can give to the
    Australian Rugby Union to maintain a Super Rugby franchise in Perth.

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  7. #457
    Champion valzc's Avatar
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    Doesn't mean the same concept can't be applied to the new structure, maybe not now but it's certainly a solid idea which Sinders & co constructed based on business models from US & UK teams. Wouldn't it be possible to park the money (if shareholders agree of course) in another interest bearing/shares investment temporarily until the funds were able to be used in the new comp? Just an idea, but $2mill that's there would be a handy little earner for 1 year or so. All based on shareholders agreements of course.

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  8. #458
    Immortal jargan83's Avatar
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    No shares have been issued therefore no one is yet a shareholder.

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  9. #459
    Immortal Contributor The InnFORCEr's Avatar
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    This should be in your inbox if you applied for shares.


    Dear Matthew,

    Firstly, on behalf of the Western Force Owners Ltd (WFOL) I wish to thank you for your interest and patience over the past 5 months as we have collectively tried to support the survival of the Western Force in Western Australia.

    As you will be aware RugbyWA has lost its appeal to the NSW Supreme Court allowing the ARU to terminate the Alliance Agreement, thereby ending the Western Force’s participation in the Super Rugby competition. As a consequence, the WFOL will not be able to secure the Western Force licence from the ARU at this time, and in accordance with the prospectus we now begin the process of refunding all investors funds.

    A number of you have contacted us to offer your ongoing financial support to both the prospectus establishment costs and to support rugby in WA into the future, recognising that new pathways and opportunities need to be developed for all of our rugby community.

    Currently we are investigating options to allow those that wish to re-direct their original investment to support the above areas, we expect to be writing to you by the end of the week

    Again, thank you for your support of Rugby in Western Australia.

    Yours in Rugby

    Mark Sinderberry

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  10. #460
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    Guys just a thought so hear me out. What about the idea of using the own the Force funds to somehow help keep staff and players here until the new season starts next year. Obviously the guys who are single lads and realistically in line for higher honours or chance of signing overseas would be on their way. I'm aiming this at the players and staff whose families are now settled and loving perth to help make things easier to stay. Could potentially make our local comp much stronger while the lads wait for the NRC/ IPRC to start up. Just a thought after reading Peks letter yesterday. One of the best and respected front rowers Australia has would be cool to have him stay and help develop some of these young fellas coming through while also playing.

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  11. #461
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    The evil ulterior motive is also to bring down the EARU and its fucken cronies to show them you screw with us you go down! The rebels and eastern teams are banking on our players if we get to keep them here then all this shit show will blow up in their faces and I'll be the first in line to piss on their wounds.

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  12. #462
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    I'm happy for that money to go to getting our team back somehow. I don't mind how the money is used to do that. So have my vote and my cash 😊

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  13. #463
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    What Jules said x2

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  14. #464
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    Obviously conditions would be put in place etc. 1 condition for example would be that players get spread evenly throughout the local competition. I'm unconvinced.that Rugby wa would be the custodians of it as well. Any one keen to have a chat about the twos and fros?

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  15. #465
    Legend Contributor Alison's Avatar
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    Hi guys,

    I think RWA is working on all sorts of things to ensure that community rugby remains strong here in WA despite everything. We need to keep hold of the passion for rugby that grew so strong as a consequence of having the Force for the past 12 years (and harness the extra energy that has been created as a result of the way the ARU has tossed us on the scrap heap in such an underhand manner), and we need to keep growing the game here for our and our kids' benefit. It's all about WA now as far as the next few years go so that we can be well positioned should there ever be a new national tent that we are allowed to enter!

    So, keep your thinking caps on and (if you can) keep your money set aside for the time being as I'm sure both will be welcome by RWA in due course once they've had chance to digest everything and start thinking about "where to from here for community rugby in WA".

    A

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