Santander Phoenix FC

You would hope that with a loan as large as $100m Terry wouldn't need a few other million to keep the Nix running, or is there something else afoot here??

Why should Terry have to open up his private accounts? He owns the team and indeed the team would never have even existed if it weren't for him. It is not like he came and took over a long standing club with plenty of history.

I don't think he owes anyone anything (well he clearly does, but you know what I am saying).Arsenal2011-02-22 23:33:55

We just have to trust Terry. He said this club was a priority commitment, and that the club is staying put. And that he loves Wellington and loves Football. He couldve easily thrown this all away after season 1 or 2.

For me Terry has already done enough, more than any individual has ever done for football in this country. Whatever happens, happens. But I for one trust Terry.

It's a football club that only exists because of one man. As I said, there were no fans before Terry formed the club.

Your sense of entitlement astounds me quite frankly.

What do you mean by this?

Because its better than having no club at all?

james dean2011-02-23 00:07:06

Well, the very reason the deal is being made is to make sure the club is not lost - what if the deal doesn't get made, Terry goes bankrupt and no-one's willing to pick up the Phoenix?

The bottom line is none of us here really know what's going on, nor is there anything we can actually do to fix the situation. Most people are simply hoping that something will happen which will ensure the club's still around for the next wee while. Nothing more, nothing less.el grapadura2011-02-23 00:09:55

Because the other option is no club.  The choice is a club owned by one shark and gone, or a club owned by two sharks and running.  Bring on the Threshers I say.

Incidentally, I will repeat this.  There is a currently no deal to buy the club.  There is the financial stuff to secure Terry and his businesses.  There is a chance that on the back of that a completely seperate deal may be done around the club ownership.

Now, now, JD.  No need to get shouty.

The 100 Million dollar deal saves the club.  It makes it financially viable and get's the debtors off Terry's back, that is what makes the club viable, that saves the club.

Further to that Terry would like to sell 50% of the club to his new business partner at some stage after the club is made viable by the $100 million.

You do remember JD that this is New Zealand and the Phoenix we're talking about?  It's not someone trying to find a new buyer for Liverpool from thousands of super rich across Asia, Europe and the US.  If there were people keen Terry wouldn't have needed to take it on in the first place. 

How many of New Zealand's rich enough (and it's a much shorter list) really fancy biffing a MIllion a year down the drain?

Your comments are heavily assuming that this guy is a crook and there are other bidders out there to buy the nix. You ask what proof is there that there isn't,but what proof is there that there is?

Let's look at facts as we know them.

IRD look to liquidate Terry.
Nix wouldn't exist if this happened.
This deal happens.
Club saved.

Why be pessimistic?

Yeah I'm just happy the phoenix still exist 

don't look a gift horse in the mouth and all that

Indeed Tegal.  If I was pessimistic I'd say taht my gut feeling is that I have a less than 40% belief that this will happen.  Not through knowledge but because I am deep at heart a doom merchant (I fake my chirpy positive persona on here).

If I let that thought take controlIi don't have a club to support and quite frankly i have put WAY to much time in to supporting this club to let myself believe it's dog f**ked.

Therefore I'm looking forward to Terry's new found wealth and already working out how to spend it on a striker, a Right back and a creative midfielder as well as extending the ASB challenge series.
Hard News2011-02-23 00:31:03

Know what you mean JD but, as pointed out, its a private company, under our current business laws there is no legal requirement to reveal anything to the public.
Also I hear what you're saying re: our "investment" in the Nix (as highlighted above) but surely we have largely had our "payoff"- return on that investment, through the season's games, as we do every season.

End of the day, it's Terry's company to offer 50% if he wants to, this deal offers some hope, and we are frankly just along for the ride ..and a hell of a great ride its been already.Long may it continue.
 If Terry can make it work, Great. If he doesn't.. F**k it! Perhaps someone else will.

 

Mmmmmm. . . . Terry has been working with this guy for 6 months on the refinancing his portfolio. If no red flags has appeared on Terry's radar and he is offering 50% to a sport enthusiast who has an fairly strong business savvy are we to complain when Terry has placed great importance to the fans and club despite his position. If the club fails, his rep is damaged more than ever. I give him reasonable doubt as long as the club is supported and looked after, we have little choice but to give it support.

I would personally like a few more other people get into the ownership deal to spread the cost and any risk lost. I am not sure that placing all the eggs in one basket would help the club. Need to spread the shares around if possible and people who are financially capable to take a horse's load when needed.

I had a yarn to Terry last night at the awards about this deal.

So everyone needs to be clear on this...

1. $100m refinancing of Terry's debt




















Daylight









2. Possible half ownership/sponsorship of the nix

FFS why wasn't that made clear from the get-go?

Hard News has repeated this on several occasions in this thread..to anyone who was paying attention.

Phoenix fans doubtful WGA will save Terry

Fans of Terry Serepisos� football team the Wellington Phoenix have reacted with dismay to the future of the club appearing to hinge on a loan deal with Western Gulf Advisory.

The National Business Review broke the news Mr Serepisos was seeking a loan from WGA a fortnight ago, and today the troubled property developer publicly confirmed this news as well as his plans to sell half of the Phoenix to WGA founder Ahsan Ali Syed.

But contributors to the Phoenix�s internet forum Yellow Fever this morning were skeptical the deal would save Mr Serepisos or his football team.

�Whitehartlane� questioned why anyone would lend Mr Serepisos money: �Why would this foreign guy get involved in a string of companies debt ridden, ($9 million at last count) and losing money hand over fist?

"Coupled with Terry obviously having little or no equity in his properties, hence needing offshore financial help to bail him out, it would be the worst investment around. I don't get it and it worries me.�

�James Dean� expressed concern the Phoenix were being conflated with Mr Serepisos� business woes: �The more I think about this the more worried/annoyed I get. There is absolutely no reason for this guy [Mr Ali], who is being brought in to recapitalise Terry�s business need to take a stake in the Phoenix.�

'Ard Righ' was more blunt: "Terry is in deep sh*t if he has to restructure everything to someone in Zurich."

Meanwhile some were hopeful a tie-in with Spanish La Liga team Racing Santander, which Mr took control over last month, would boost performance on the pitch.

�Luis Garcia� said: �Let�s hope they give us some loan players. Spanish right-back and striker please.�

�Leyton Orient� said: �While it�s not unusual for the rest of Europe to have to bail out the Greeks, I never expected salvation to come from Spain.�

Another poster, in reply, said: �It hasn�t.�

Oh dear

Journalism at its finest. Dear Lord.

And arf at 'Leyton Orient'.

Wow NBR

Terry said he was hiring a top lawyer to take their tabloid ass to court

in season tickets?

Screw you, NBR journos, why do my witty remarks never get picked up as the basis for a half-assed tabloid news story?

But seriously: let us be absolutely clear that many rich people in this country (the NBR-reading crowd) and many Wellington businesspeople (the Doom Post reading crowd) hate Terry, from a mixture of being burned in business dealings, snobbery, and outright racism. Therefore we should see these vendettas and deliberately doom-mongering stories as par for the course, and not get worried about them.Doloras2011-02-23 11:14:19

Terry said a top lawyer.