Wellington Phoenix Men

Terry's neverending money issues

299 replies · 10,618 views
over 15 years ago · edited over 13 years ago

this was the lead story on tv1 news tonight, was on the front page of Chch Press - it reflects poorly on the "Wellington Phoenix" name and reputation. And does a huge amount of brand damage, what potential sponsor would want to be involved with a club that continuously gets bad press due to it's owner not paying debts (let alone performing poorly on the field).

I feel sorry for the players & staff that have to defend Terry, as us fans also have to do.
 
What frustrates me is that Terry is nowhere to be seen and allows for Nathan to front the media - something I dont think he is that great at and spins the corporate line.
When the team was winning last season you couldnt get Terry out of the news or papers, but just like the ACC Fiasco earlier this year he wont front up and lets other people do so. I know he has said that he will have an interview with Sainsbury tomorrow but I wouldnt hold my breath.
 
Don't get me wrong, I admire Terry for taking the punt with the club and what he has done but that good will can only go so far. I love the club and really saddens me to see the bad publicity.
 
This kind of bad practice never happened when Pignata was running the show.
chchnix2010-11-16 22:52:36
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over 15 years ago · edited over 13 years ago
scribbler wrote:
Traitor wrote:
scribbler wrote:
[QUOTE=stealthkiwi] come on guys....I object to the suggestion Aucklanders don't care about football. The Phoenix is not tied to Wellington and the club could be bought by an Aucklander.[/IMG]
I think the FFA would rather NO NZ team than do business in Auckland again.

Aucklanders have seen what professional football in this country can aspire too....�


....on tele.

"Sharing rewards the weak"- Steven Colbert

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over 15 years ago · edited over 13 years ago
Getting ahead of things here but a new owner would be mad to move the team to anywhere away from Wellington. Wellington has already shown it will support a successful team - nowhere else has or has had the chance to.
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over 15 years ago · edited over 13 years ago
Dan Parker wrote:


The chief executive of the Phoenix football team says his boss Terry Serepisos may sell part of the franchise to find the money to stave off its bankruptcy.



What Greenham actually said: "we've been looking at other funding models for a while - this is not to do with Terrys finiancial situation,whatever that may be"

Getting really sick of this.

Am quite sure the IRD file court action to get their money quite often...It doesn't mean that the phoenix is folding. Making that link is just them making a mountain out of a molehill (for about the 8th time this year)

Allegedly

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over 15 years ago · edited over 13 years ago
What an avalanche of outbursts railing IRD and Dompost and at the same time even lauding Terry. Truth hurts, reality sucks and real truth in hard reality really sucks and hurts. Paye is not a working capital and source of money to pay next month of salary. Paye and GST have to be paid to IRD promptly, otherwise, where on earth will Ministers and MPs get their perks?????
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over 15 years ago · edited over 13 years ago
Napier Phoenix wrote:
 My bet is still that Terry is on borrowed time and the IRD are not to be trifled with. Should he be dispatched to history as the saviour of NZ football who lost his club, so be it. I will forever remain thankful for his contribution, and shout him a beer if I were ever to run across him and say thanks.
 
 
 
Terry drinks Bourbon & Coke
 
 
 
.
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over 15 years ago · edited over 13 years ago

The media has William and Kate to focus on today!

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over 15 years ago · edited over 13 years ago
BigDaddy wrote:
 
I once previously worked in the insolvency industry in NZ and have a fair bit of experience in dealing with the IRD. One thing that hasnt been mentioned is that failure to account for PAYE is a criminal offence in NZ. Terry could end up in prison if he doesnt deal with this, so it is a pretty big deal.
 
The IRD will not let him off this, and will liquidate if a suitable arrangement cannot be made. I'd suggest that Terry will need to offer something along these lines to get out of this:
 
1. $1m upfront
2. The balance in installments over time, perhaps over 12-18months
3. Keep all future taxes up to date
 
3 being critical. If he doesnt meet all future taxes on time the IRD takes an extremely hard line and would require full payment immediately to avoid a liquidation.
.
 
This is exactly right.
 I have been having a debate with Smithy on earlier posts.....he said that it is not in the IRD's interest to liquidate because Century City Football Ltd has little or no assets and many things such as the brand are ringfenced by FFA.
The IRD take non payment of taxes very seriously...as well as the non payment of tax issue they would be very concerned about the possible risk of future non compliance. For CCF this is a very very big deal. If the IRD were not comfortable about CCF ability to meet further tax payments they will liquidate. There will be serious late payment fees incured already.
To say that it is not in the IRD's interest to liquidate is plain wrong. The IRD will go for them big time if they can't pay in full. You can't hide tax from the IRD by having a raft of loss making companies.....we are talking about PAYE tax owed.
It is quite simple....if Terry can't come up with a substancial proportion of the tax owed and can't show that he will not infinge in the future they will liquidate CCF.
 The fact that the IRD have already filed to liquidate CCF suggests they have no confidence in CCF meeting their tax obligations.
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over 15 years ago · edited over 13 years ago
Just caught the end of Terry's interview with Brendan on RS. TS gave straight answers to tough questions. Good on him!
 
BUT... he still has to come up with the money and IRS don't play soft-ball.
 
This is serious. And all the abuse levelled at the Dom and other media sources on this site won't change that.
 
If I were a betting man I'd say the Phoenix will have a new owner by the start of next season. If not sooner. And that's being optimistic.
 
 
scribbler2010-11-17 11:42:58
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over 15 years ago · edited over 13 years ago
I'll take that bet scribbler.
 
How much?  I'm good for a hundy if you're confident.
 
Terry Serepisos will still own the Phoenix franchise at the start of next season.

Incredible stamina. No shame. Yellow Fever.

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over 15 years ago · edited over 13 years ago
Concur. Good to see him fronting the media on the issue. No big story on stuff.co.nz yet though saying "Serepisos confident debt with IRD will be sorted". How strange.

Hopefully his promises that the issue will be sorted out 'in a few weeks' are delivered upon.
bwtcf2010-11-17 12:47:33

Incredible stamina. No shame. Yellow Fever.


Phoenix fans. We have to win them over one fan at a time.

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over 15 years ago · edited over 13 years ago
  nice terry, shut those idiots up!!!
well spoken, confident and strong!
 
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over 15 years ago · edited over 13 years ago
Who would bank roll the phoenix if they could? I'm talking about having a good few mil to chuck into the club.

I would.Azevo2010-11-17 13:56:04

We will never fully decide who has won the football.

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over 15 years ago · edited over 13 years ago
Good stuff Terry, fronting up and it's great to hear him still so committed to the Nix. I'm with Smithy on this one, he ain't going anywhere.
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over 15 years ago · edited over 13 years ago
I feel like I need to do something for Terry to thank him. I don't know what, but something.

We will never fully decide who has won the football.

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over 15 years ago · edited over 13 years ago
I think there needs to be a great big St Terry banner created.

A few good chants of "We love you Terry" would be good too :)

Yellow Whever Whanganui

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over 15 years ago · edited over 13 years ago
Azevo wrote:
I feel like I need to do something for Terry to thank him. I don't know what, but something.
 
Send him a cheque? 

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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over 15 years ago · edited over 13 years ago
Guy Smith spoke well on Close Up last night and seemed to sum up how alot of us feel. Hard to believe there isn't a back up plan.
 
Reporters hassling players was unnecessary as was supposedly looking for Terry in the ladies loo..cheap and not particularly funny. 
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over 15 years ago · edited over 13 years ago
hawkey10 wrote:
Guy Smith spoke well on Close Up last night 
 
Agree - he was excellent
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over 15 years ago · edited over 13 years ago
hawkey10 wrote:
Reporters hassling players was unnecessary as was supposedly looking for Terry in the ladies loo..cheap and not particularly funny. 
 
Only a "reporter" in the broadest possible sense, in that someone gave him a microphone and cameraman.
 
Cringe-inducing from that guy, whoever he was.  Just made himself look like a complete cock and destroyed any credibility he might have had by even putting that piece together for broadcast.
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over 15 years ago · edited over 13 years ago
liverpoolfan1 wrote:
hawkey10 wrote:
Reporters hassling players was unnecessary as was supposedly looking for Terry in the ladies loo..cheap and not particularly funny. 
 
Only a "reporter" in the broadest possible sense, in that someone gave him a microphone and cameraman.
 
Cringe-inducing from that guy, whoever he was.  Just made himself look like a complete cock and destroyed any credibility he might have had by even putting that piece together for broadcast.
agree. tool
Sainsbury was decent though. Big ups to Mystery too.

Founder

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over 15 years ago · edited over 13 years ago
Feverish wrote:
liverpoolfan1 wrote:
hawkey10 wrote:
Reporters hassling players was unnecessary as was supposedly looking for Terry in the ladies loo..cheap and not particularly funny. 
 
Only a "reporter" in the broadest possible sense, in that someone gave him a microphone and cameraman.
 
Cringe-inducing from that guy, whoever he was.  Just made himself look like a complete cock and destroyed any credibility he might have had by even putting that piece together for broadcast.
agree. tool
Sainsbury was decent though. Big ups to Mystery too.
yeah pity mitch didnt twat that reporter
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over 15 years ago · edited over 13 years ago
I can't but feel that this will be the end of the current ownership model for the Nix. The club is not going anywhere and it will survive....there are too many people interested in its future.
 
As for Terry, we all owe him a huge debt of gratitude....he has taken us all on an amazing ride. I just hope he can be the magician again and somehow pull something out of the hat(like $3.5 million)
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over 15 years ago · edited over 13 years ago
OK Folks...
 
There are approx 400,000 people living in Wellington
 
If each and every one of those 400,000 people spends an average of $8.75 on Phoenix gear from the Club Store at Phoenix Towers within the next 7 days then that will generate the required cash flow of $3.5M to pay off Terry's IRD Bill...
 
Simple!
 
 

"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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over 15 years ago · edited over 13 years ago
liverpoolfan1 wrote:
hawkey10 wrote:

Reporters�hassling players was unnecessary as was�supposedly looking for�Terry in the ladies loo..cheap and not particularly funny.�

�

Only a "reporter" in the broadest possible sense, in that someone gave him a microphone and cameraman.

�

Cringe-inducing from that guy, whoever he was.� Just made himself look like a complete cock and destroyed any credibility he might have had by even putting that piece together for broadcast.


This.

Clearly the biggest Nix fans are Prince William and Kate. They've done a fantastic job of knocking this whole thing off the front pages!

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over 15 years ago · edited over 13 years ago
C-Diddy wrote:
OK Folks...
 
There are approx 400,000 people living in Wellington
 
If each and every one of those 400,000 people spends an average of $8.75 on Phoenix gear from the Club Store at Phoenix Towers within the next 7 days then that will generate the required cash flow of $3.5M to pay off Terry's IRD Bill...
 
Simple!
 
 
Or spend it there instead of on YF gear.

GET YOUR SHIRTS OFF FOR THE BOYS

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over 15 years ago · edited over 13 years ago
liverpoolfan1 wrote:
hawkey10 wrote:
Reporters hassling players was unnecessary as was supposedly looking for Terry in the ladies loo..cheap and not particularly funny. 
 
Only a "reporter" in the broadest possible sense, in that someone gave him a microphone and cameraman.
 
Cringe-inducing from that guy, whoever he was.  Just made himself look like a complete cock and destroyed any credibility he might have had by even putting that piece together for broadcast.


reporters in the TVNZ sense...?

so now we sold out two finals to prop up other clubs does the FFA give us money back?
martinb2010-11-17 17:55:37


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over 15 years ago · edited over 13 years ago
Heard the interview, Terry said all that I would have expected from someone in his position.

He said that it was part of the negotiating process for the IRD to file in court. More like a last resort I would think.

It surprises me that he takes the company that owns the Phoenix right to the brink, news like this was surely going to come out and the timing coinciding with the run of poor results lately is very detrimental to the club. Amongst all the good things he does, I dont think he got that right

He has done a great service to all football followers in NZ over the last 3 years, I admire him greatly for that, I hope he can move through this as readily as he says he will, and continue his support.


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over 15 years ago · edited over 13 years ago
While im thankful and grateful for what Terry has done in bringing the Phoenix to Wellington.For what ever reason the Doom Post has him squarely in their headlights,yes they may be reporting facts in some cases.But this ruck making has gone on for to long for it to be anything else.

It must have some affect on potential sponsors and  players thinking of coming here.While the blind loyalty of some may seem commendable,there must come a time in future where if this continues it will have some very negative affects on us.

GET YOUR SHIRTS OFF FOR THE BOYS

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over 15 years ago · edited over 13 years ago
Footpaul wrote:
liverpoolfan1 wrote:
hawkey10 wrote:

Reporters�hassling players was unnecessary as was�supposedly looking for�Terry in the ladies loo..cheap and not particularly funny.�

�

Only a "reporter" in the broadest possible sense, in that someone gave him a microphone and cameraman.

�

Cringe-inducing from that guy, whoever he was.� Just made himself look like a complete cock and destroyed any credibility he might have had by even putting that piece together for broadcast.


This.

Clearly the biggest Nix fans are Prince William and Kate. They've done a fantastic job of knocking this whole thing off the front pages!



why else would they get engaged, i love them

Calling all fans in Japan, come down and support the mighty nix in Osaka

http://www.facebook.com/WellingtonPhoenixClubMembersSupportersGroupOsaka

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over 15 years ago · edited over 13 years ago
was really impressed in terry's interview today, in terry we trust

Calling all fans in Japan, come down and support the mighty nix in Osaka

http://www.facebook.com/WellingtonPhoenixClubMembersSupportersGroupOsaka

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over 15 years ago · edited over 13 years ago
Saw Terry's interview with Sainsbury tonight, why didnt he front yesterday , he is really good infront o fthe camera and would have been good damage control for him to do that  - would have cleared any speculation.
 
I'm travelling up to the Victory game next weekend, wouldnt be going to Welly if the phoenix were not there so Terry's contribution is certainly beneficial to the region.
 
It should never have got to this stage, lets hope this is the end of the press attacks on the him & he Nix.That tax bill better be paid as agreed or it will be the lead story again!
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over 15 years ago · edited over 13 years ago
chchnix wrote:
Saw Terry's interview with Sainsbury tonight, why didnt he front yesterday , he is really good infront o fthe camera and would have been good damage control for him to do that� - would have cleared any speculation.
�

I'm travelling up to the Victory game next weekend, wouldnt be going to Welly if the phoenix were not there so Terry's contribution is certainly beneficial to the region.

�

It should never have got to this stage, lets hope this is the end of the press attacks on the him & he Nix.That tax bill better be paid as agreed or it will be the lead story again!



he was out of the country i believe

Calling all fans in Japan, come down and support the mighty nix in Osaka

http://www.facebook.com/WellingtonPhoenixClubMembersSupportersGroupOsaka

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over 15 years ago · edited over 13 years ago
Hard News wrote:
Reports said he wasn't in NZ yesterday.


beat u 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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over 15 years ago · edited over 13 years ago
hawkey10 wrote:
Guy Smith spoke well on Close Up last night and seemed to sum up how alot of us feel. Hard to believe there isn't a back up plan.
 
 
why is Smithy allowed 2 accounts on here when the rest of us (except Chops/Da Boss) can only have one?

All I do is make the stuff I would've liked
Reference things I wanna watch, reference girls I wanna bite
Now I'm firefly like a burning kite
And yousa fake fuck like a fleshlight

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over 15 years ago · edited over 13 years ago
You have to wonder why whenever there is an article about Terry the Phoenix is always mentioned and never his association with the Wellington Racing Club or the many other things he puts money into.

GET YOUR SHIRTS OFF FOR THE BOYS

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over 15 years ago · edited over 13 years ago
Indeed.  I don't see people rushing out to talk to the WRC and sayng 'so, is the Centrury City Wellington Cup dogf**ked ?'

How's my driving? - Whine here

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