Quote ="dally messenger"
im in the property market mate, i know what the land value is of these things.
you are talking about massive complexes.
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I'm glad you mentioned property values. You [ido[/i realise that they would have to sell that land to realise it's value? Or should I say it's nominal value? Like the former rubbish tip adjacent to Cronulla Leagues which is [unominally[/u worth tens of millions, but they can't get resedential development permits so no-one wants to buy it?
The fact is that most of these clubs (including Panthers) are struggling to deal with new taxes and decreased revenue because of changes to the smoking laws. Add to that the servicing of loans, upkeep and refurbishment of property etc. and you will see that the picture is not the rosy one that you paint.
