Balmain Tigers have demonstrated their traditional fighting spirit, staving off voluntary administration by negotiating a significant financial contribution from Heworth Pty Ltd, the developer who took control of their Rozelle site 18 months ago.
Rumours have swirled for days that Balmain, a 1908 foundation club, would be forced into voluntary administration, almost 10 years to the day after the start of the global financial crisis, which halved the value of their assets.
Glory days: Balmain have a rich heritage in Sydney rugby league, including the club’s final premiership in 1969.
Photo: SMH Photographgic
Balmain’s two licensed clubs, at Sydney Markets and Five Dock, have not provided the cash flow necessary to meet all its obligations, …
Read the full article at: https://www.smh.com.au/sport/nrl/balmain-stave-off-voluntary-administration-but-fight-is-far-from-over-20180913-p503kt.html
