Jeez you are pessimistic Zonknz.
Part of the problem seems to be that you have tied Terry's ability to keep running the Phoenix 100% to the WGA loan deal.[/QUOTE]
The problem is if there were any other options out there then I doubt very much that Terry would be going to WGA. Obviously he did manage to get $4m from somewhere which is very impressive but NZ lenders aren't touching him right now and I know for a fact that ASB who have been his bankers are nowhere in this. You are talking about restructuring a highly leveraged property portfolio with tax liabilities, litigation and numerous other issues in avery challenging market. It is a very difficult proposition. It is no surprise that he hasn't been able to work out a restructuring plan
[QUOTE=terminator_x]If anything ever comes from that then great, but if it doesn't that doesn't mean that Terry and the Phoenix are dead and buried. Terry is a fighter and as of right now he is still standing.
It is tough economic times for everybody but one thing that is absloutely not in doubt is Terry's passion for the Phoenix.
Right now I would rather have an owner who is 110% committed to the Phoenix and who has a huge amount of skin in the game already, than sit here wishin' and a hopin' that some other white knight is parked up around the corner.
We do need someone with cash because the club doesn't pay for itself - and the CEO has admitted that is the case. Passion and commitment are great - I am a huge fanof Terry and want him to continue if possible. But I agree with other's sentiments, if it is inevitable that he has to get rid of the club then now is as good a time as any to do it.