This recession has bitten really hard in the property sector...where Terry has nearly all of his investments. You have to feel for the guy...its bloody tough out there now. Terry has been flicking off some of his propeties...recently the Harbour City shopping centre on Lambton Quay. Trouble is there are bugger all buyers and the banks are not lending on property.
Ownership of the Phoenix is a luxury...any business that loses a million a year is a luxury. We all owe a huge debt of gratitude to Terry for what he has done with the Phoenix. But unless there is a significant upswing in the property market then things will remain tight.
The trouble with these sort of things is they are are like a cancer invading a club. Rumours circulate and the whole thing snowballs. It can get to the players as well. Doubts about wages...the uncertainty of the future club licence extension. The players should only have to worry about what goes on on the field....but in times like this they can get distracted.
Anyone can see that the club has had a little bit of a dip lately...injuries,suspensions etc plus now this money thing does not help.
What can we do as fans...bugger all realy except watch and wait and hope. in the mean time we can help by getting everyone along to the home games...pack out the ROF. Let the club and the players know we are 100% behind them. Who knows, a great run into the playoffs, a home semifinal with a big crowd may help the club through.