I'm in shock.
Just watching Sportsline on Fox and they have just had breaking news that Terry S is being chased by the Tax Department for $3.5 million in owed tax.
They also stated that the Tax Department are trying to close Central City the company that owns the Phoenix.
I only hope something can be resolved as the club is to important to lose.
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Oh well,we had a good run.
Allegedly
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more of this stuff??? but it wasnt dom post this time.... might have something to it.....
Calling all fans in Japan, come down and support the mighty nix in Osaka
http://www.facebook.com/WellingtonPhoenixClubMembersSupportersGroupOsaka
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I move away from Wellington and the club falls into ruins.
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more of this stuff??? but it wasnt dom post this time.... might have something to it.....
splashed all over front page of the Dom Post today.
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This week just gets better and better!
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f**k me Tery, sort your sh*t out.....as if the club doesn't have enough issues at the moment.....
Queenslander 3x a year.
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All you people who have been buying kids match tickets for personal use over the past 3 years should be f**king ashamed of yourselves!!!
"Ive just re-visited this and once again realised that C-Diddy is a genius - a drunk, Newcastle bred disgrace - but a genius." - Hard News, 11:39am 4th June 2009
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Makes you wonder, despite players saying otherwise, whether this is having an impact on on the pitch performance.
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Makes you wonder, despite players saying otherwise, whether this is having an impact on on the pitch performance.
how can it not have an impact......the all read the papers, the all hear th news.....if it was your employer who was going thorugh financial troubles would it play on your mind, just a little - of course it would!
Queenslander 3x a year.
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Could be worse. Could be owed by Alan Hubbard...
"Ive just re-visited this and once again realised that C-Diddy is a genius - a drunk, Newcastle bred disgrace - but a genius." - Hard News, 11:39am 4th June 2009
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From what I have heard, their are other businessmen interested in the Phoenix if it was to get in finanical trouble, just because Terry Serepisos goes under doesnt mean the Phoenix has to. Also think Terrys reputation has kept a number of potential business partners away from the Phoenix. Dont get me wrong Terry did a great thing bringing the Phoenix to Wellington, but long term it would probably be much better if the ownership of the Phoenix was to change hands to someone more clued on and business savvy. Though obviously short term this will cause a lot of stress to players and fans.
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Could be worse. Could be owed by Alan Hubbard...
but then the Government would bail us out though right so we'd be sweet
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Why one earth did the writers of the Dompost article think it was important to write about players who didn't return phonecalls? There are many reasons the calls may have not been returned.
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Why one earth did the writers of the Dompost article think it was important to write about players who didn't return phonecalls? There are many reasons the calls may have not been returned.
Here we go again.... all a Dom Post / Rugby Unioin Conspiracy!
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dead right, i love terry and what he has given us but why would you back the Phoenix with sponsorship money when there is a dodgy businessman in charge, i believe that Newcastles new owner has companies running through his door to support him because he is a good bloke and a good businessman. the Phoenix are here to stay - we need to show more support than ever now. ricki will have known about this maybe that is why he is out of sorts lately, spending all his time on seek looking for a new job
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All you people who have been buying kids match tickets for personal use over the past 3 years should be f**king ashamed of yourselves!!!
At least they bought a ticket Coops.
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ricki will have known about this maybe that is why he is out of sorts lately, spending all�his time on seek looking for a new job
Possibly regretting turning down job offers after the world cup!
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Terry will NEVER go bankrupt, the media just rak things up and add sh*t that makes it sound good and oh so dramatic.
not saying theres not an issue, cause theres no fire without smoke, however
TERRY WILL SORT IT, mark my words
leave the poor guy alone FFS!!!
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Terry will NEVER go bankrupt, the media just rak things up and add sh*t that makes it sound good and oh so dramatic.
not saying theres not an issue, cause theres no fire without smoke, however
TERRY WILL SORT IT, mark my words
leave the poor guy alone FFS!!!
Cool. That's okay then.
I was concerned that a guy with extremely well publicised money problems is the same guy who owns our football club, which is costing him loads of money. Now you've explained it, I feel much better about the whole situation. Thanks for that.
Apparently I'm apathetic, but I couldn't care less.
"Being a Partick Thistle fan sets you apart. It means youre a free thinker. It also means your team has no money." Tim Luckhurst, The Independent, 4th December 2003
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I think Terry has been the saivour of NZ football but maybe its time for someone who has less money issues to step up to the plate and throw some money at the club. It doesnt even need to be ownership of it, but just some funds to give the club a lifeline (or even just some more signings?!).
Isnt Terrys issue that he is rich asset wise, but just cash strapped at the moment?
Isnt Terrys issue that he is rich asset wise, but just cash strapped at the moment?
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The guys got cashflow issues, not wealth issues. He obviously got a sh!tload of capital tied up in assets, but still a bit worrying that he doesn't seem to have the available paper to cover tax bills in a reasonable timeframe from the income that his companies generate.
The thing that pisses me off the most is though is that he may well have been operating this way for as long as he's been doing business (i.e. leaving things like paying tax and rates to the last minute) but now that the 'Nix are involved it's front page material.
I get the fact that there's now a greater interest given that he owns the Phoenix, but this constant headline, half-story BS always seems to reek of sticking the knife in for some reason.
Milky Pisswit2010-11-16 10:08:21
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Yawn.
It's the Demi-Onion Post running the stories.
Same old, same old.
Read how all these "apps" (whatever they are) are hitting hardcopy newspapers in the wallet. Good one I say. Might need to invest in one of these things.
"Phoenix till they lose"
Posting 97% bollox, 8% lies and 3.658% genuine opinion.
Genuine opinion: FTFFA
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Yawn.
It's the Demi-Onion Post running the stories.
Same old, same old.
Read how all these "apps" (whatever they are) are hitting hardcopy newspapers in the wallet. Good one I say. Might need to invest in one of these things.
well said.
people stop believing sh*t that is spoon fed to you from the media. it's well known how a number of people/organization would benefit from Terry/the Nix going down, and they're doing all they can to discredit the man and his football club.
Also, what the City Council did in the past doesn't help. Now everyone who is owed money will go to the courts and throw sh*t on Terry as it's a quick and easy way to get their money.
VUW AFC - Victoria University Football for life
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Leo and Greenacre's quotes are pretty good, have all faith in Terry.
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I move away from Wellington and the club falls into ruins.
Get back here
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This is now serious....very serious for the club ownership.
The IRD is a completely different oufit to the WCC. The Council have a vested interest in keeping the Nix up and running and have bent over backwards for Terry. The IRD in comparison are staffed by people who would have fitted in quite well 70 years ago in a European country that tended to cross borders without an invite. These people have ice in their veins. They will put Century City Football LTD into recievership at the blink of an eye(they already have applied to the High Court to do this already...hearing 13th December)
Unless Terry has the $1.56 ???million in cash lying around to payoff the IRD then CCF Ltd(the Nix) will be liquidated.....absolutely 100% certain.
Can Terry pay this money on time? We can only speculate on this as it depends what sort of debt he is carrying on his other assets. If he is already heavily mortgaged on his property portfolio(which I suspect he probably is) then it comes down to whether selling off some/all of his assets will cover the debt and allow him and of course CCF to keep trading.
As a football follower desperate to see the Nix continue there are 4 outcomes as I see it.
1, Terry liquidates some of his assets, pays off the IRD and can afford to run the Nix and keep losing money on the club.
2, The IRD puts CCF Ltd(the Nix) into liquidation. The IRD would then want to recover unpaid debt by selling the club. This is where things become interesting. Is there a consortium of business people(previous rumours Sam Morgan, Hart) ready to step in and buy up the club?
3, IRD puts CCF into liquidation and the Australian Football Fed steps in and runs the club until a new buyer is found.(possibly with some imput from NZF)
4, The club is liquidated and no new buyer is found.
Personally I am convinced that the club will not fold. I am equally certain that it is highly unlikely that Terry will own the club outright by the end of the season. I think option 2 above is the most likely outcome.
In the mean time we are in for a period of great angst and uncertainty. What we are seeing is not an isolated case. This scenario is being replayed all over the globe....there are many many clubs in financial trouble....including many in the A-League.
In the mean time for us fans the best thing we can do is get along in numbers to support the lads and hope they can deliver on the field. The worst case scenario is too horrific to even comptemplate.
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Do we lose points if the club goes in to liquidation?
Also, there was a kiwi business rumoured to buy Portsmouth a while back (might have been this year) lets hope he's a fan of the Phoenix too!
Also, there was a kiwi business rumoured to buy Portsmouth a while back (might have been this year) lets hope he's a fan of the Phoenix too!
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Makes you wonder, despite players saying otherwise, whether this is having an impact on on the pitch performance.
The players didn't know anything about it until Sam Worthington rang them yesterday - so I don't see how it could have had.
Incredible stamina. No shame. Yellow Fever.
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IRD don't file papers to liquidate with the High Court unless they think they're not going to get their money any ohter way.
While I sincerely hope Terry can pull some money out of somewhere before it gets to court on December 13, if it doesn't, the future is looking fairly grim.
In the case that Century City Football gets liquidated, I am sure NZ Football would retain the license, the team/brand of the Phoenix would need to be transfered to a new owner.
At that stage, I hope this mystery group of 'businessmen' would come in and provide stable ownership, for the club to continue.
While I sincerely hope Terry can pull some money out of somewhere before it gets to court on December 13, if it doesn't, the future is looking fairly grim.
In the case that Century City Football gets liquidated, I am sure NZ Football would retain the license, the team/brand of the Phoenix would need to be transfered to a new owner.
At that stage, I hope this mystery group of 'businessmen' would come in and provide stable ownership, for the club to continue.
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This is now serious....very serious for the club ownership.
The IRD is a completely different oufit to the WCC. The Council have a vested interest in keeping the Nix up and running and have bent over backwards for Terry. The IRD in comparison are staffed by people who would have fitted in quite well 70 years ago in a European country that tended to cross borders without an invite. These people have ice in their veins. They will put Century City Football LTD into recievership at the blink of an eye(they already have applied to the High Court to do this already...hearing 13th December)
Unless Terry has the $1.56 ???million in cash lying around to payoff the IRD then CCF Ltd(the Nix) will be liquidated.....absolutely 100% certain.
Can Terry pay this money on time? We can only speculate on this as it depends what sort of debt he is carrying on his other assets. If he is already heavily mortgaged on his property portfolio(which I suspect he probably is) then it comes down to whether selling off some/all of his assets will cover the debt and allow him and of course CCF to keep trading.
As a football follower desperate to see the Nix continue there are 4 outcomes as I see it.
1, Terry liquidates some of his assets, pays off the IRD and can afford to run the Nix and keep losing money on the club.
2, The IRD puts CCF Ltd(the Nix) into liquidation. The IRD would then want to recover unpaid debt by selling the club. This is where things become interesting. Is there a consortium of business people(previous rumours Sam Morgan, Hart) ready to step in and buy up the club?
3, IRD puts CCF into liquidation and the Australian Football Fed steps in and runs the club until a new buyer is found.(possibly with some imput from NZF)
4, The club is liquidated and no new buyer is found.
Personally I am convinced that the club will not fold. I am equally certain that it is highly unlikely that Terry will own the club outright by the end of the season. I think option 2 above is the most likely outcome.
In the mean time we are in for a period of great angst and uncertainty. What we are seeing is not an isolated case. This scenario is being replayed all over the globe....there are many many clubs in financial trouble....including many in the A-League.
In the mean time for us fans the best thing we can do is get along in numbers to support the lads and hope they can deliver on the field. The worst case scenario is too horrific to even comptemplate.
If the company holding the A League licence is liquidated then the licence reverts to FFA (or it may be NZF in the Phoenix's case - I'm not certain). The IRD could not "put the club up for sale" as you say.
So the IRD in fact has very little to gain from liquidating Century City Football Limited.
We're in for a month of uncertainty, but there is no danger of the club disappearing this season. The FFA could not let that happen as it would damage the credibility of the competition.
Either Terry will keep running the Phoenix, or someone else will. That someone else may well be the FFA - and there is plenty of precedent for this in the league already.
It's not in the FFA's interests for Terry to be gone however - unless he is financially mismanaging the club (which hasn't been suggested).
So my pick is that one way or another Century City Football Limited will stave off liquidation and carry on. It's in more peoples' interests for that to happen (including the IRD's, the FFA's, the other clubs', the players', and Terry's).
Incredible stamina. No shame. Yellow Fever.
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Two things every fan of the Phoenix should do:
1. Spend as much money with the club as you can reasonably afford; and
2. Stop buying the Dominion Post and reading Stuff.
New Zealand Herald ftw.
Incredible stamina. No shame. Yellow Fever.
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Two things every fan of the Phoenix should do:
1. Spend as much money with the club as you can reasonably afford; and
2. Stop buying the Dominion Post and reading Stuff.
New Zealand Herald ftw.
I hope they quote this on their website next.
Further displays of quality journalism by pulling quotes of here.
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Two things every fan of the Phoenix should do:
1. Spend as much money with the club as you can reasonably afford; and
2. Stop buying the Dominion Post and reading Stuff.
New Zealand Herald ftw.
Done and done!
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Two things every fan of the Phoenix should do:
1. Spend as much money with the club as you can reasonably afford; and
2. Stop buying the Dominion Post and reading Stuff.
New Zealand Herald ftw.
This.
I would also like to add that Stuff regularly troll these forums, especially anything with 'Terry' in the title, so i think some of you (especially the more regular user's of YF) need to assess what youre typing, keep it clean, keep it logical and remove the hate... because Stuff are lapping it up and posting it all on their website for the entire nation to read.
IMO anyone slagging off Terry, or the Nix on this forum needs to grow up or gtfo.
edit: too bad The Herald only have Soccer news...
AJ132010-11-16 11:16:25
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Nah put swear words all the way through it then they can't print it.
Incredible stamina. No shame. Yellow Fever.
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