Giteau threatens to walk if Force don't pay $1m

[Jehna]

like i said, the firepower subject is done and dusted, this is about the fact that the only way he can get the money he signed on for initially is to sign a contract extension. That is bullshit and you have to be ignorant to think its not.

Why is it bullshit? He's doing a hell of a lot better than the thousands of other shareholders and contract holders who get nothing, and all because he can kick a ball. His options at this point are minimal:

1. Take the gratuitous payments from his new third sponsor and stay on in Perth until 2011
2. Forget about the Firepower money and stay in Perth
3. Forget about the Firepower money and move to Canberra

Granted, none of these options remedy the loss incurred, but like you yourself have said, Firepower and done and dusted. He must take the best option he has right now and frankly if I was him, I know what I choose. Is it fair? No. But suck it up princess..that's the way of the world...bad and unfair things happen to good and innocent people all the time. I say Gits is doing ok comparative to many others out there who have also suffered as a result of Firepower's collapse

[travelling_gerry]

On Monday of this week during the ABC720 Eoin Cameron breakfast program there is a cross to Ross Solley in Canberra talking about all things sport.

Solleys first item on Monday was along the lines of.....

In news that will interest the Western Force the ACT Brumbies have been knocking on doors in Canberra to gain corporate support to get Matt Giteau back to the ACT. And by the looks the promises have been very encouraging....

I will attempt to get a transcript.

[TOCC]

TOCC you are correct - it is bullshit but not RugbyWA fault - it's the way the whole 3rd party thing is set up - this story we have heard about but what about 3rd party stuff being late or not appearing at all.

If RugbyWa was in control of the 3rd party stuff there would be better security for the players - if RugbyWa does anything it will get fined - it's happened in the past and it will happen in the future. The ARU has made it very clear that players and their managers (on 20%) are responsible for 3rd party stuff.

If Matt has a problem it is with the original manager who failed to do due diligence on the 3rd party stuff that lured him here.

has RugbyWA not being given permission to help Mat in finding a company to offset the losses of the 2008 and 2009 season.. and the best they could come up with is a syndicate who wants Giteau to sign a contract extension. I dont suppose that ET Mining is a large contributor to the buisness syndicate offering the top up.

Why is it bullshit? He's doing a hell of a lot better than the thousands of other shareholders and contract holders who get nothing, and all because he can kick a ball. His options at this point are minimal:

1. Take the gratuitous payments from his new third sponsor and stay on in Perth until 2011
2. Forget about the Firepower money and stay in Perth
3. Forget about the Firepower money and move to Canberra

Granted, none of this options remedy the loss incurred, but like you yourself have said, Firepower and done and dusted. He must take the best option he has right now and frankly if I was him, I know what I choose. Is it fair? No. But suck it up princess..that's the way of the world...bad and unfair things happen to good and innocent people all the time. I say Gits is doing ok comparative to many others out there who have also suffered as a result of Firepower's collapse

why are you still talking about firepower?

i think a force supporter calling me princess is a little hypocritical, wake up sunshine

i think you need to read what i wrote again, and then maybe read it a third time before commenting again

[Flamethrower]

From what I've read a large portion of the package was in shares. Realistically you would have to forget about them. Gaining payment would be as likely as suing the ASX because of the world wide collapse in share prices.

[Jehna]

If RugbyWa was in control of the 3rd party stuff there would be better security for the players

To be honest...i'm not sure RugbyWA could have done a better job. You can't really provide any further security in contracts which ensures a party fulfills its contractual obligations. The theory is that the consequences of breach are enough to induce performance. But here, Firepower aren't capable of performance and now they're not even capable of fulfilling their obligation to pay damages as a result of breach. This would have been the case regardless of who negotiated the contract. It quite frankly is just a loophole in the legal system by which Matt's contract was not high enough in the long list of people who are owed compensation for non-performance of Firepower's many contractual obligations and commerical obligations. It is the risk of business.

If Matt has a problem it is with the original manager who failed to do due diligence on the 3rd party stuff that lured him here.

I'm not even sure Matt would have a due diligence claim. Due diligence simply means that his agent would have had to make an effort similar to that made by an ordinarily prudent or reasonable party to avoid harm to Matt. Short of any evidence suggesting that Matt's agent had been negligent in performing this duty by way of not investigating Firepower's financial status/background etc. I don't think such a claim would stand given the volatile nature of business and the market.

[Thequeerone]

has RugbyWA not being given permission to help Mat in finding a company to offset the losses of the 2008 and 2009 season.. and the best they could come up with is a syndicate who wants Giteau to sign a contract extension. I dont suppose that ET Mining is a large contributor to the buisness syndicate offering the top up.

Yes it was - but if you were a sponser would you give anyone millions in backpay if your're not going to get anything in the future. There is only so much you can do.

The real problem is with the soundness of the original deal - but even if he did try and sue over that he would have little chance of success because at the time Firepower looked as good as any wall street bank.

The point I'm making is that there is no way of getting that money back - without a new deal - If RugbyWa was allowed to then maybe they would just give it to him - shit I'd put a $10 in a bucket if he'd stay and so would others - but it doesn't work that way does it.

[TOCC]

Yes it was - but if you were a sponser would you give anyone millions in backpay if your're not going to get anything in the future. There is only so much you can do.

The real problem is with the soundness of the original deal - but even if he did try and sue over that he would have little chance of success because at the time Firepower looked as good as any wall street bank.

The point I'm making is that there is no way of getting that money back - without a new deal - If RugbyWa was allowed to then maybe they would just give it to him - shit I'd put a $10 in a bucket if he'd stay and so would others - but it doesn't work that way does it.

i agree that expecting backpay from another company is pretty ludicous, but why cant RugbyWA at least find a decent deal which is for the 2009 season?

[Jehna]

why are you still talking about firepower?

i think a force supporter calling me princess is a little hypocritical, wake up sunshine

i think you need to read what i wrote again, and then maybe read it a third time before commenting again

Thank you for your suggestion I read your post. I did. I still find it as ridiculous as the first time I read it.

I'm talking about Firepower with respect to ET mining if you care to read my post. Perhaps you might want to read it again as well? In addition, my comments about Firepower were with respect to your original comments about the links between the ET Mining and Firepower. More specifically, my reference to Matt (that's with two "T's" btw) and Firepower are entirely relevant as we are adducing Matt's future options given that he is still owed money from Firepower. To clarify, essentially he can choose to forget that the entire Firepower mess happened and that he's owed $1million by Firepower, or he can accept his new third party sponsorship deal which makes up for the loss of payments owed to him by Firepower. So you see TOCC, it all stems back to Firepower, hence the discussion

My princess comment was not in reference to you specifically though if you wish to take it on board that is your choice. It was actually in reference to Matt (if it is the case that he is prepared to leave the Force due to this debacle)

[Thequeerone]

i agree that expecting backpay from another company is pretty ludicous, but why cant RugbyWA at least find a decent deal which is for the 2009 season?

PASS - when I get to make these kind of deals I'ill tell everyone - guessing timing of the new CEO, the grapevine may have heard about the deal being got together in Canberra - also we know that ET Mining were victims of the firepower collapse as well (seem to remember $20 million) as well as the current Global Meltdown (super lost 11% but shareholders lost 30% - so less monies around!)

here's hoping he likes us enough to stay for ourselves - No - well we had a go we'll know one way or another

[.X.]

i think a force supporter calling me princess is a little hypocritical

TOCC

you are carrying on like a complete princess - please take a breath - relax

take off your tiara and settle down a bit.

[Burgs]

"What we've got here is... failure to communicate. Some men you just can't reach. So you get what we had here last week, which is the way he wants it... well, he gets it. I don't like it any more than you men."

[Harry]

He's just trying to get what he was promised - but I would have thought that would mostly be between him, his manager and Firepower?

If it does get ugly - I'd prefer to see him leave in an ugly way than stay in an ugly way.

Force was improving well at 10 & 12 before Gits became a member of the team and although it may hurt a bit, we'd recover if he were to leave.

Would have to agree with you on that one Coach. No one (even Gits) is bigger than the team.

[James]

i think a force supporter calling me princess is a little hypocritical, wake up sunshine

Which is funny because this picture of you I found on the internet says otherwise. It was right next to your blog where you said you made out with Prince Charming last weekend and ohhh my god you forgot to get a manicure and your fingers were like soooo ugly.

[travelling_gerry]

Can't argue with that.....I mean..it was on the Internet...So it must be true.

[mudskipper]

Any company which enters a multi million dollar financial arrangement with another company and fails to research that companies finical records is suspicious...furthermore if the first company when goes and introduces to other to their own client for personal gain they're motives are seriously questionable…