After years of losses and trying to bail out of it, Sage has finally found a buyer, problem is its a very dodgy buyer, Crypto Currency Group London Football Exchange.
Sage lost 2.9 Million on Glory last year on the back of Millions over the last few years.
Can’t see the outfit being worth much at all.
Serious concern with this new buyer and the clubs future.
Basically it looks like Sage is writing off his losses.
Can’t blame him. Makes you wonder why this crypto currency exchange wants to own money losing football clubs? Maybe a way of converting crypto currency into cash?
Can’t blame him. Makes you wonder why this crypto currency exchange wants to own money losing football clubs? Maybe a way of converting crypto currency into cash?
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He must of lost a mint over the journey.
He openly admits he has lost at least $1 Million every year he has owned it, last year despite making Cup Final he lost 2.9 Mill…thats a massive mountain of debt that has built up over the years, think about this Sage will stay on as CEO of Glory and get a Chair of the new LFE Crypto Company , sounds to me someone is moving some debt around to wipe it off and get out.
FFA still has to approve deal, I don;t reckon they will, they tried to purchase a French Club and it feel over when the finance was not produced.
Is a worrying sign when an aussie or a well known buyer cannot be found. Instead there is a dodgy overseas buyer. Or if more partners came on board to lighten the load, although that hasn’t happened. Whether through design or otherwise.
Of course the deal still needs official approval.
Apparently Sage looking at retaining 20% of his holding in the company.
Yeah even so when he had been looking for 5 years or so, lets be honest who would take on a multi million dollar loser. The A League has just lost Hyudai as a major sponsor on top of declining attendance and putrid TV Ratings,and it looks like Foxtel will be dropping it as it cost more to broadcast than the rights are worth.
Soccer struggling, there’s a surprise.
Tony has basically listed just about every other A League club as having billion dollar backers. Unless he finds a willing investor we might not have a club. He also stated he had discussions with the City football group who back Melbourne City but they are all about changing the name and the brand. Tony Sage said retaining the Perth Glory name and brand was his top priority so you got to hand it to the bloke.
At the end of the day the big money is in Europe and it’s a case of sink or swim. Aligning the club and riding on the coat tails of the big money from European sources is a no brainier.
He’ll obviously have to do his what if due diligence.
Can’t blame him. Makes you wonder why this crypto currency exchange wants to own money losing football clubs? Maybe a way of converting crypto currency into cash?
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This should be OK a I keep getting emails that Twiggy Forrest & Kochie are making millions from it.. Unfortunately I think Crypto Currency is a ponzie scheme & haven’t made millions ( or been burnt)
Tony has basically listed just about every other A League club as having billion dollar backers. Unless he finds a willing investor we might not have a club. He also stated he had discussions with the City football group who back Melbourne City but they are all about changing the name and the brand. Tony Sage said retaining the Perth Glory name and brand was his top priority so you got to hand it to the bloke.
At the end of the day the big money is in Europe and it’s a case of sink or swim. Aligning the club and riding on the coat tails of the big money from European sources is a no brainier.
He’ll obviously have to do his what if due diligence.
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Don’t really see it that way tbh, Sage has a long history as a BS artist, how many times did he crack the shits and say he was walking away only to do the opposite..
As far as saving the colours and name is concerned, firstly the only one thats come out with that story is Sage himself, no other body has confirmed they were interested, secondly if it was a big finance deal and meant a change of colour and name, and saving the club or it folding, give me a break you would always save the club, so I smell BS.
But as you say, there’s really nobody around who wants to take on a 30 Million buck loser that is effectively insolvent in its present form.
This article I found scrolling through Google News from some digital crypto news source sheds a bit more light on their motivations. They plan to sell tickets and merchandise at a discounted price using crypto currency.
Sounds like a smart way of getting people to use crypto currency.
https://decrypt.co/19052/cryptocurrency-company-buys-80-stake-in-major-australian-soccer-team
Just wonder what size crowd ,Glory need to get this club into the Black.A rough guess would be around 15,000 per game .They average around half of that.
Last year hosting a home Grand Final.Being on top all season.And still losing almost 3 million. His best result since ownership is -2.5 million.Is the A League the only soccer competition in the world with a salary cap–the marquee player.
Local Soccer use to be great in the 60’s+70’s+80’s with Azzuri ,Athena,Windmills,Kiev.Tri Colour,Dalmatinac. Reminds me of a competition called the Wafl.
Pretty sure Azzuri might of done a Subi a few times.Unbeaten in a couple of seasons over the journey.
gtr: I re-call as a kid there being a bit of trouble at Balga United --North Perth Croatia game – i think Croatia went down that year too. However, their number one enemy was Spearwood Dalmatanic because, their rivals mostly supported Tito instead of Ante pavelich, the fascist leader during the war. According to a mate of mine, whom played for North Perth, Pavelich’s picture was on the wall in the club.
Perth Glory’s fundamental problem, besides the questionable colours and name, is that many in the soccer fraternity will not support them. i have never done so out of loyalty to the WAFL.
That was something they stopped in Au soccer Ark.Soccer teams on ethnic lines.Remember Dalmatinac being quiet a competitive club.NPCroatia had a fair bit of cash just before the Glory emerged. They moved to that new ground in the Vegi patch on Karrinyup Road.Now called Stirling Gardens or Rosalie Estate.
Ark did Pavelich escape from the Soviets after WWII.
gtr: good question == he get out to latin America with the help of the roman catholic church; eventually, in the late 1950s, he was badly wounded in an assassination attempt carried out by a Serb. Like some many of the others from the fascist era, he seems to have ended up in Spain, where, it seems that he died of complications from the wounds he had during the assassination attempt – December 1959
i remember all the ethnic names – I did not mind them. After all, it was the ethnic population which kept the game going for many decades. I used to know a Scotsman whom came out to coach Stirling Macedonia in the 1980s.
They dropped all the ethnic names years ago, good move as well, the sectarian rubbish it attracted wasnt the best.
Getting back to Glory, Sage claims there are big buyers who want to change the name and colours,???
Really?? I find this hard to buy, Perth City or Perth United maybe change from Purple to Red…
To be fair I do think Glory and Purple are poor choices.
Perth Azzurri
Bayswater Inter
Floreat Athena
Spearwood Dalmatinac
East Fremantle Tricolore
Stirling Macedonia
Osborne Park Galeb
Balcatta Etna
Inglewood Kiev
North Perth Croatia
Kingsway Olympic
Fremantle Benfica
Morley Windmills
Forrestfield United
Wanneroo British
Dianella White Eagles
Ashfield Dynamos
Bassendean Caledonia
Swan IC
Above were a few of the WA Soccer clubs I remember as a kid from the 1980s but I never followed it too closely to be honest other than the results.
Yep remember all them, I actually played against a few as a kid, Tricolore was all Italian, and Spearwood was all Slav, pretty much Croatian, they created a hell of a cauldron at their home ground, which was a natural amphitheater that’s for sure. Peter Sumich was one of their top players.
Morley Windmills were always a good club to play against and very well run.
East Fremantle Tricolore, merged with Fremantle United a few years ago which was a bit of a surprise.
Always remember Ch 2 news would should highlights from Dorrien Gardens of games Saturday night sports reports.
Dinella Serbia
does anyone know the ethnicity of Swan IC
Perth Azzurri
Bayswater Inter
Floreat Athena
Spearwood Dalmatinac
East Fremantle Tricolore
Stirling Macedonia
Osborne Park Galeb
Balcatta Etna
Inglewood Kiev
North Perth Croatia
Kingsway Olympic
Fremantle Benfica
Morley Windmills
Forrestfield United
Wanneroo British
Dianella White Eagles
Ashfield Dynamos
Bassendean Caledonia
Swan IC
Above were a few of the WA Soccer clubs I remember as a kid from the 1980s but I never followed it too closely to be honest other than the results.
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Well done BH.There was a lot of strong local clubs back then.
My father was a coach at Morley Windmills Juniors.Can remember as a kid watching Holland lose 2 world cups in the 1970’s.They where red hot favourites in both games.
In the Swan Valley Ark you would think Croation. But have a feeling might of been an Italian club.
Forrestfield United-Scottish Team
Krakovia-Polish
Anybody know any English clubs?