It's time to support OUR Club Swans

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  • Wardy
    The old Boiler!
    • Sep 2003
    • 6676
    #16
    Originally posted by iigrover
    The property is owned by ING Real Estate Entertainment Fund (not the Sydney Aussie Rules Social Club nor the Swans footy club). IEF is also listed on the ASX, if you want to look up any further info on it.

    Property portfolio - ING Real Estate

    In that respect, it is IEF who will be responsible for fixing the damage to the building / insurance. Unfortunately for them, they also own the Bourban next door...

    I think where most people get confused is that Richard Colless is Chairman of each of IEF, SARSC, and of couse the Swans. Some might argue that presents a few conflicts of interest. But if he's keeping the Swans as no.1 in his list of preferences, Im all for it :-)

    And if anyone is really keen, they can attend a briefing by Richard on the ING Real Estate Entertainment Fund at 2pm, Monday 22 February 2010, on Level 4 of the Hilton Sydney.

    ING's insurers will cover the building - the fitout and restoration of the clubs interior & contents (ie fitout) will be with the clubs insurers.

    Was the Bourban's fit out/ reno done at the same time as Club Swans - I cant recall? I know it was a couple of years ago now, so I think that the defects period under the Contract Works would have expired by now. Still there maybe some chance of recovery from the building contractors if its deemed that there was a major fault in construction/renovation. Anyway one way or the other, there are some big decisions to be made on this one.
    I used to be indecisive, but now I'm not so sure..................
    Chickens drink - but they don't pee!
    AGE IS ONLY IMPORTANT FOR TWO THINGS - WINE & CHEESE!

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      • jono2707
        Goes up to 11
        • Oct 2007
        • 3326
        #17
        Originally posted by iigrover

        I think where most people get confused is that Richard Colless is Chairman of each of IEF, SARSC, and of couse the Swans. Some might argue that presents a few conflicts of interest. But if he's keeping the Swans as no.1 in his list of preferences, Im all for it :-)
        I would have thought that's a pretty major conflict of interest....

        I had heard that the IEF was under some pressure to sell the club from its portfolio due to its poor performance and that the decision to acquire the investment in the first place was was not necessarily a popular one, but one that was pushed by someone within the IEF who had a personal interest in the Swans. Hmmmm
        Last edited by goswannie14; 16 February 2010, 09:15 AM. Reason: fixed quote

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          • AnnieH
            RWOs Black Sheep
            • Aug 2006
            • 11332
            #18
            Originally posted by jono2707
            I would have thought that's a pretty major conflict of interest....

            I had heard that the IEF was under some pressure to sell the club from its portfolio due to its poor performance and that the decision to acquire the investment in the first place was was not necessarily a popular one, but one that was pushed by someone within the IEF who had a personal interest in the Swans. Hmmmm
            Dicky is a professional board sitter.

            Other than that ... insurance will cover any damage made to both places.
            Wild speculation, unsubstantiated rumours, silly jokes and opposition delight in another's failures is what makes an internet forum fun.
            Blessed are the cracked for they are the ones who let in the light.

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              • Beaussie
                On the Rookie List
                • Mar 2003
                • 328
                #19
                Hopefully the report below is correct and the club will be operating again in the short term.

                Temporary closure of Club Swans

                As the result of a major storm in Sydney last Friday night, Club Swans is unable to trade and has been closed for repairs.

                It is yet to be determined exactly when Club Swans will re-open but we are confident we will be operating again in the short term.

                We will provide regular website updates on our progress as more information comes to hand.

                We appreciate the positive support and offers of help received to date and look forward to seeing you all soon.

                Doug Grant, chief executive, Club Swans


                Temporary closure of Club Swans - Official AFL Website of the Sydney Swans Football Club

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