The game's almost up for Firepower

[BLR]

Who's the biggest sponsor of NSW rugby (apart of course from the ARU who has kept them in the manner in which they have insisted on being accustomed for years)?

HSBC isn't it? HQ is in the UK and they are going through a major credit crunch.

[TOCC]

HSBC isn't it? HQ is in the UK and they are going through a major credit crunch.

i dont see how a team losing its principle sponsor is good for the sport at all in australia..


at least with Virgin Blue and Firepower they were only sleeve sponsors and not the main sponsors.

[BLR]

i dont see how a team losing its principle sponsor is good for the sport at all in australia..

It'd probably just mean they will get even more handouts from the ARU....

[chook]

Do they have to hand in their sleeves when the sponsorship goes? That seems a shame. The jerseys will look a bit AFL then.

Why don't all the big mining groups get onboard and sponsor the teams sleeves? They are cashed up. Or some dudes from China?

[Moses]

Who's the biggest sponsor of NSW rugby (apart of course from the ARU who has kept them in the manner in which they have insisted on being accustomed for years)?

Vodafone topped up Lote to make him the highest PAID Australian rugby player.

HSBC are the major sponsor, and while they maintain offices in London and Sydney I'm pretty sure they're based in Hong Kong.

[shasta]

some sort of bridge then?

Woosh!

[Flamethrower]

Do they have to hand in their sleeves when the sponsorship goes? That seems a shame. The jerseys will look a bit AFL then.

They could make jerseys with brassards, then it would only take seconds to change sponsors

[Jasper]

Just to clear up a point regarding the insolvency of a company - if a company beomes insolvent their is a priority of creditors - secured creditors (banks if they have security over the assets) get the first call on funds, second is the tax office, third is unsecured creditors. Contractual obligations of a company rank as an unsecured creditor - they same as the phone bill.

So if Firepower was to go into liquidation - the payments due to the force payers would rank equally with the other unsecured creditors of the company - ie last

It should be noted howver that there has been no suggestion that Firepower is going under - in whihc case they will have to meet their current commitments, unless they agree a comprimise with those creditors.

[shasta]

Anyone see Andrew Symonds shirt get ripped in the WI during the test? They showed it on The Back Page on Tuesday. The current sponsor logo came off and last year's was underneath. Now that's cost cutting! Things must be tough at the ACB.

[TOCC]

haha thats gold

[Jehna]

Funny, when you succeed I imagine Queensland will want all their players back... and since they'd no longer qualify for the Wallabies

Wasn't Queensland going to succeed with us?

Actually no one will be succeeding...they secede...

i dont see how a team losing its principle sponsor is good for the sport at all in australia..
at least with Virgin Blue and Firepower they were only sleeve sponsors and not the main sponsors.

I don't see how it's bad TOCC. It happens all time. It's part of the industry.

Just to clear up a point regarding the insolvency of a company - if a company beomes insolvent their is a priority of creditors - secured creditors (banks if they have security over the assets) get the first call on funds, second is the tax office, third is unsecured creditors. Contractual obligations of a company rank as an unsecured creditor - they same as the phone bill.

So if Firepower was to go into liquidation - the payments due to the force payers would rank equally with the other unsecured creditors of the company - ie last

It should be noted howver that there has been no suggestion that Firepower is going under - in whihc case they will have to meet their current commitments, unless they agree a comprimise with those creditors.

Very true to an extent Jasper except that contractual obligations can equate with secured creditors depending on the terms and conditions of the contracts. They aren't the same as a phone bill. Technically, a secured loan with the bank is also a contract for financial obligations so you're generalising quite a bit to equate all contractual oblications with your everyday phone bill.

[.X.]

Its not my area of expertise - but I thought the first responsibility for a Company going in to Liquidation is the Australian Tax Office

[chook]

I love it when chicks know stuff, its kinda chookerotic

[tahbar]

Sports clubs that got into bed with Firepower deserve all they get

Crikey - Sports clubs that got into bed with Firepower deserve all they get - Sports clubs that got into bed with Firepower deserve all they get

[tahbar]

from the above article......

From the very neutral Michael Pascoe... Wake up Force!!

"Ditto the Western Force which has relied on millions of perhaps ill-gotten Firepower dollars to buy and keep its star players – players who now don’t seem to be getting their Firepower money.

If a company stinks and you willingly take their money and wear their logo, you stink too. That apparently didn’t concern the Western Force administration or, for that matter, the ARU, NBL, NRL and the many other recipients of the extraordinary amounts of sponsorship money being splashed around by Firepower boss Tim Johnston".