robdylan

Lions deny fresh liquidation allegations


Written by Rob Otto (robdylan)

Posted in :Lions, Original Content on 18 Jan 2012 at 08:16
Tagged with : , ,

The ongoing debate regarding the health (or otherwise) of the Golden Lions’ finances continue to rage, with Union President Kevin de Klerk again speaking out to deny that the Currie Cup winners are on the verge if insolvency.

In this instance, the allegations seem to come from the Lions’ erstwhile equity partners, Robert Gumede’s Guma Group; apparently, Guma feel that the Lions have yet to repay monies invested in the Union prior to the acrimonious split and as a result may initiate steps to have the union liquidated. De Klerk has been quick to squash any such talk though, insisting via the team’s website that “I can state categorically there won’t be any liquidation”.

De Klerk concedes that his lawyers are currently working with legal representatives from Guma to ascertain what exactly is owed by the Lions, but again insists that the Union’s assets outweigh its liabilities, thus implying that any attempts on Guma’s behalf to force liquidation would be fruitless. “The GLRU is definitely not bankrupt and there is no prospect of liquidation,” reiterates de Klerk in a statement that is sure to placate fans, yet unlikely to convince anyone else, given the vast amounts of smoke that can be seen – typically a sure indication of a fire somewhere.



76 Comments

  • Comment 1, posted at 18.01.12 08:40:59 by dizzy Reply
     
  • @dizzy (Comment 1) : Nice studio. :cool:

  • Comment 2, posted at 18.01.12 08:59:14 by klempie Reply
    klempieTeam captain
     
  • Forward an offer to Minnie, Taute and Hollenbach just in case? :twisted:

  • Comment 3, posted at 18.01.12 09:19:28 by Original Pierre Reply
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    Original PierreSuper Rugby player
     
  • @dizzy (Comment 1) : Posting links without any context supplied? Sorry bud, but what’s to stop me from assuming you’re posting spam?

  • Comment 4, posted at 18.01.12 09:25:57 by vanmartin Reply
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  • @Original Pierre (Comment 3) : :lol: yae, quickly ;)

  • Comment 5, posted at 18.01.12 09:30:39 by Franshark Reply
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    FransharkTeam captain
     
  • Give me a frickin break ..how many times is this gonna be rehashed by the media ..getting really tiresome now ..

    It’s pretty clear that Guma and his cronies are bitter and are stopping at nothing too run the union into the ground.

    :roll:

  • Comment 6, posted at 18.01.12 09:38:25 by CoffeeshopBok ;-) Reply

    csbSuper Rugby player
     
  • @CoffeeshopBok ;-) (Comment 6) :
    Fully agree with you. But de Klerk’s comments are a bit ambiguous.

    You can still be liquidated if your assets outweigh your liabilities, but you are short on liquid assets.

    I don’t see the Lions being liquidated, but clearly they are not in great financial health.

    The Guma group are really coming across as a spiteful, vindictive bunch here.

  • Comment 7, posted at 18.01.12 09:48:25 by Big Fish Reply
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    Big FishAssistant coach
     
  • Ag come on, when is this going to stop. How many times is this story going to break. I think Gumede is just mad because when they got out the Lions started winning

  • Comment 8, posted at 18.01.12 09:49:03 by Mutley Reply
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  • @CoffeeshopBok ;-) (Comment 6) : :) moer hulle. :)

  • Comment 9, posted at 18.01.12 09:50:28 by KSA Shark © Reply

    KSA Shark ©Head Coach
     
  • @vanmartin (Comment 4) : And on every damn thread as well. :(

  • Comment 10, posted at 18.01.12 09:52:06 by KSA Shark © Reply

    KSA Shark ©Head Coach
     
  • I’d be worried if I were the Lions. De Klerk said “categorically” and we all what it means when something is categorically denied. :razz: :wink:

  • Comment 11, posted at 18.01.12 09:56:15 by KSA Shark © Reply

    KSA Shark ©Head Coach
     
  • @Big Fish (Comment 7) :

    Their agenda most defiantly comes across vindictive.

    Thing is we all are very aware of the financial shit the Lions are in …and I unfortunatly dont have great inside info of the exact state of the Union ..I’m sure it is bad …But !

    There are rumours that a deal has been made and that all will go ahead smoothly …

    What gets me is this mentality of putting the boot in when someone is down and out ..run them down like dogs !

    Its counter-productive ..why would anyone want to see a old Union and once proud be shut down ..

    I blame sectors of the media ..it seems any news in which someone can get chopped further down after misfortune is fair game ..
    Sad really ..

  • Comment 12, posted at 18.01.12 09:59:27 by CoffeeshopBok ;-) Reply

    csbSuper Rugby player
     
  • @[email protected]:what was the response when asked if this was the smart thing to do re:for the lions to go into partnership with the guma group?

  • Comment 13, posted at 18.01.12 10:00:19 by bergshark Reply

    bergsharkSuper Rugby player
     
  • They have a new sponsor in Glasfit as well, so how can there possibly be a problem?

  • Comment 14, posted at 18.01.12 10:01:21 by Richard Ferguson Reply
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  • @Original Pierre (Comment 3) :

    ive been repeatedly told those players are useless … dont know what you want with them :P

  • Comment 15, posted at 18.01.12 10:02:08 by Zibbie Reply
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  • @KSA Shark © (Comment 9) :

    :smile:

    @KSA Shark © (Comment 11) :

    I guess we’ll find out when the Stormers pitch at Newlands and play an invitational Guma group 15 in the Plascon DOUBLE velvet cup :mrgreen:

  • Comment 16, posted at 18.01.12 10:02:50 by CoffeeshopBok ;-) Reply

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  • @Richard Ferguson (Comment 14) :

    just some clarity . He is a shareholder , not a sponsor .

  • Comment 17, posted at 18.01.12 10:04:12 by Zibbie Reply
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  • @CoffeeshopBok ;-) (Comment 16) : :lol:

  • Comment 18, posted at 18.01.12 10:05:16 by KSA Shark © Reply

    KSA Shark ©Head Coach
     
  • @Zibbie (Comment 17) :

    He is actually the vice-president, as far as I know..

  • Comment 19, posted at 18.01.12 10:06:25 by Richard Ferguson Reply
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  • @bergshark (Comment 13) :

    My intial response when it did happen was positive …I saw perhaps a venue change and money to hang onto the players we have …

    Who really knows what transpired between them for it to go sour ..but some of the demands I heard were unreasonable and the Lions rightly walked away ..to their detriment …the jury is out I guess ..

  • Comment 20, posted at 18.01.12 10:06:41 by CoffeeshopBok ;-) Reply

    csbSuper Rugby player
     
  • How much did it cost to contract butch ?
    And mapoe?

  • Comment 21, posted at 18.01.12 10:07:00 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Zibbie (Comment 17) :

    But whichever way you look at it, its another possible funding opportunity

  • Comment 22, posted at 18.01.12 10:07:03 by Richard Ferguson Reply
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  • @CoffeeShopBok: they seemed like people one had to be very weary of .but don’t think the lions will disappear.

  • Comment 23, posted at 18.01.12 10:11:01 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Zibbie (Comment 15) :

    Yip and Minnie is SA’s worst lose forward .. :cool:

  • Comment 24, posted at 18.01.12 10:11:36 by CoffeeshopBok ;-) Reply

    csbSuper Rugby player
     
  • @Richard Ferguson: how much money is available in these economic times for sponsorships?

  • Comment 25, posted at 18.01.12 10:12:20 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Richard Ferguson (Comment 19) :

    Yes he is . but being vice doesnt mean you have shares ?

    @Richard Ferguson (Comment 22) :

    True . i think a shareholder whould have more say in what goes and what doesnt ?

    as far as i understand the trimming down of the squad was at his insistence

  • Comment 26, posted at 18.01.12 10:13:03 by Zibbie Reply
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  • @CoffeeshopBok ;-) (Comment 24) :

    Terrible aint he … :lol:

  • Comment 27, posted at 18.01.12 10:14:54 by Zibbie Reply
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  • @[email protected]: your players can stay in jhb- the sharks must just play to their potential and everyone else is also rans

  • Comment 28, posted at 18.01.12 10:15:24 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @KSA Shark © (Comment 10) : @vanmartin (Comment 4) : all this love is making me dizzy ;)

  • Comment 29, posted at 18.01.12 10:20:08 by Franshark Reply
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  • @Zibbie (Comment 26) :

    No, I understand that a vice president does not mean he will have shares, but in all likelihood, he will have some.

    I just think that if his company is a shareholder, and he has power in the form of being VP, he would be able to pull the company out of it’s financial problems..

  • Comment 30, posted at 18.01.12 10:23:41 by Richard Ferguson Reply
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  • @bergshark (Comment 25) :

    I didn’t say sponsorhip, I said funding..

    This could be done by way of a loan, and not as a company expense.

  • Comment 31, posted at 18.01.12 10:24:44 by Richard Ferguson Reply
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  • @Richard Ferguson (Comment 30) :

    yes fully agreed . as far as i understand the Lions finances is not great . BUT it doesnt look much different from any other SA unions (hear so so whether this is true or not , im not sure ) .

    I think the big problem is in the Lions letting players go people say AHA this proves they are bankrupt . But they dont see which players are being let go .

    Off the players that where let go very few where involved in the CC .

    i think aiming to have a squad of 45 snr contracted players should be enough , 2 in each position , and 1 vodacom cup player . the rest of the Vodacom Cup side can be filled with u/21

  • Comment 32, posted at 18.01.12 10:30:16 by Zibbie Reply
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  • @bergshark (Comment 28) :

    also rans …Maruis Joubert anyone :lol:

  • Comment 33, posted at 18.01.12 10:31:18 by CoffeeshopBok ;-) Reply

    csbSuper Rugby player
     
  • @bergshark: he didn’t have the best of seasons in 2011,but every new season brings with it the opportunity of a new beginning.so let’s wait and see what has been done in the off-season .
    same goes for meyer bosman.

  • Comment 34, posted at 18.01.12 10:35:03 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Zibbie (Comment 32) :

    It would be interesting to compare the squad sizes between the Lions and the Cheetahs, who I know were struggling financially last season..

    They managed to get out of it without winning a Currie Cup.

    As a matter of interest, I wonder what the cash prize money is for winning the Cup?

  • Comment 35, posted at 18.01.12 10:35:25 by Richard Ferguson Reply
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  • @CoffeeShopBok: obviously meant to post comment 34 to your address :-D

  • Comment 36, posted at 18.01.12 10:36:13 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Richard Ferguson (Comment 35) :

    Ive also wondered about that …doubt its a helluva lot of money for winning the CC ..would be intresting to find out.

  • Comment 37, posted at 18.01.12 10:38:28 by CoffeeshopBok ;-) Reply

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  • Morning all,

    It would be a shame to see that happened after all they were the better team in the CC, and really why can’t one just stop running over the Lions (Snoils) they have some good players

  • Comment 38, posted at 18.01.12 10:38:50 by chaz Reply

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  • @Richard Ferguson (Comment 35) :

    The CC ? i think it was 1 mil . not sure . but you get gate fees for the semi and finals as well.

    the players are back in training and the Unions still have money to take them to Rustenburg so i think its ok :lol:

  • Comment 39, posted at 18.01.12 10:39:42 by Zibbie Reply
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  • @Richard Ferguson (Comment 35) : i wonder to and what happened to that money surely it got them out of the woods with that CC win

  • Comment 40, posted at 18.01.12 10:40:45 by chaz Reply

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  • @zibbie: I think you are re: prize money is 1 million.

  • Comment 41, posted at 18.01.12 10:42:14 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Zibbie (Comment 39) : i hope so for your team sake, :lol: and that they get out of the woods for that matter ;-)

  • Comment 42, posted at 18.01.12 10:43:05 by chaz Reply

    ChazTeam captain
     
  • @CoffeeshopBok ;-) (Comment 37) :
    @Zibbie (Comment 39) :

    I think the largest income from winning the CC would have been the gate takings, and the fresh season tickets then being sold for this season coming.

    I don’t know, I know very little, I’m just asking questions and making observations..

  • Comment 43, posted at 18.01.12 10:43:42 by Richard Ferguson Reply
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  • @chaz: comment40:they had a full house for the final.and the semi vs weepee they also seemed better supported than the sharks were :-(

  • Comment 44, posted at 18.01.12 10:45:47 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Richard Ferguson (Comment 43) :

    haha me as well . im just a stupid Lions supporter on a sharks website :P

    Besides . i dont think a guy like Butch James would Hang around if the Union was bankrupt

    @chaz (Comment 42) :

    Hehe yea thanx . may the Sharks do well as well but not better than the Lions :lol:

  • Comment 45, posted at 18.01.12 10:48:03 by Zibbie Reply
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  • @bergshark (Comment 44) : well now how much money are the Lions in dept for if those wins and full houses can’t even bring them near out of the woods,
    :cry: and its true still hurts but a new year has begun and i just hope we do ok or better than ok in the SR and CC for that matter :lol:

  • Comment 46, posted at 18.01.12 10:50:04 by chaz Reply

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  • @chaz (Comment 38) : more aunti. How go’s she and the uncle… Still traveling? Long time no smell ;)

  • Comment 47, posted at 18.01.12 10:51:51 by Franshark Reply
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  • @Zibbie (Comment 45) : we seem to get back the year after but may the best team win in the Year 2012, it was just a shame to have the match played on your field and not in the Tank because then i feel it would of been a whole new game altogther

  • Comment 48, posted at 18.01.12 10:53:20 by chaz Reply

    ChazTeam captain
     
  • @Franshark (Comment 47) : yep still doing the travelling thing now and then just had a long rest but back and trying to get on top of things (gran son just started his school career) so been busy, so how is all on SW

  • Comment 49, posted at 18.01.12 10:56:12 by chaz Reply

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  • @chaz:and here is hoping to full houses for every sharks home game this season

  • Comment 50, posted at 18.01.12 10:56:42 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @chaz (Comment 49) : SW is warming up fast and furious after a quiet off season….

  • Comment 51, posted at 18.01.12 10:58:15 by Franshark Reply
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  • @chaz:comment48: spot on observation! That home ground advantage is huge in play-offs rugby.

  • Comment 52, posted at 18.01.12 10:58:23 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @bergshark (Comment 52) : :mrgreen:

  • Comment 53, posted at 18.01.12 10:59:29 by chaz Reply

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  • @Franshark (Comment 51) : right again we want our cup back where it belongs :mrgreen:

  • Comment 54, posted at 18.01.12 11:00:11 by chaz Reply

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  • @Richard Ferguson (Comment 35) : Saru regulations on their website stipulate that the host for the final will pay the visiting team ZAR500,000 within 14days of the match and the semi hosts will pay ZAR250,000.

    With that in mind the prize money must be a whack if we also consider that the VC winner gets a Mil.

  • Comment 55, posted at 18.01.12 11:03:42 by KSA Shark © Reply

    KSA Shark ©Head Coach
     
  • @KSA Shark © (Comment 55) :
    ouch that is a lot of loads of money in my books :mrgreen:

  • Comment 56, posted at 18.01.12 11:10:21 by chaz Reply

    ChazTeam captain
     
  • @bergshark (Comment 52) :

    Would have could have should have :P

  • Comment 57, posted at 18.01.12 11:11:38 by Zibbie Reply
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  • @Zibbie: yes,the loser dwells on the ifs and buts :-D

  • Comment 58, posted at 18.01.12 11:32:23 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @bergshark (Comment 58) : :cry:
    but wait and see what our Sharks deliver this year we might just get what we are asking for and long time trophey that was stolen from us :mrgreen: ;-)

  • Comment 59, posted at 18.01.12 11:37:19 by chaz Reply

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  • @bergshark (Comment 58) : @chaz (Comment 59) :

    Dont worry . i know the pain you are going through .. i know it all too well …

  • Comment 60, posted at 18.01.12 11:39:56 by Zibbie Reply
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  • @Zibbie:ahhh thanks :-) … @[email protected]: group hug :-D :-D

  • Comment 61, posted at 18.01.12 11:50:40 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @CoffeeshopBok ;-) (Comment 33) : Have you actually had a good look at Marius Joubert’s turn of speed…? I don’t think the words “Marius Joubert” and “ran” can be used sensibly in the same sentence… :mrgreen:

  • Comment 62, posted at 18.01.12 12:09:09 by Culling Song Reply
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  • @bergshark (Comment 61) : is this AA for loosing rugby supporters ;-)

  • Comment 63, posted at 18.01.12 12:11:58 by Franshark Reply
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  • @bergshark (Comment 61) :

    hahah . this is starting to get weird :P

  • Comment 64, posted at 18.01.12 12:13:40 by Zibbie Reply
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  • @Franshark: comment63: :-D guess so

  • Comment 65, posted at 18.01.12 12:18:38 by bergshark Reply

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  • @bergshark (Comment 65) : then, My name is Frans, I’m a sharks supporter still p*ss*d that we lost against the lions :sad:

  • Comment 66, posted at 18.01.12 12:29:07 by Franshark Reply
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  • @Franshark::-D welcome Frans

  • Comment 67, posted at 18.01.12 12:48:21 by bergshark Reply

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  • @bergshark (Comment 67) : I thought by now I’d feel better but it still hurts :cry:

  • Comment 68, posted at 18.01.12 13:04:41 by Franshark Reply
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  • @Franshark: :-D

  • Comment 69, posted at 18.01.12 13:13:11 by bergshark Reply

    bergsharkSuper Rugby player
     
  • Must say, Guma group pulled n vuile on the Lions. Had they stuck around instead of seeking instant financial gratification, they might have realised both financial and reputational award. As far as I am concerned, I will never enter into business with them.

  • Comment 70, posted at 18.01.12 13:14:03 by King Shark Reply
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  • @Franshark:comment68: some in the group nod in agreement,whilst most just sit there with bowed heads..someone starts crying uncontrollably at the back of the group

  • Comment 71, posted at 18.01.12 13:16:35 by bergshark Reply

    bergsharkSuper Rugby player
     
  • @Franshark (Comment 68) : I can live with that loss. The pain of 2007 is still with me though.

  • Comment 72, posted at 18.01.12 13:17:30 by King Shark Reply
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  • @bergshark (Comment 71) : :lol:

  • Comment 73, posted at 18.01.12 13:31:20 by Franshark Reply
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  • @King Shark (Comment 72) : this is a talk group but we don’t go that deep…. :cry:

  • Comment 74, posted at 18.01.12 13:32:37 by Franshark Reply
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  • At least there is always some positive to lift me, I just walk over to Bloubloubul…
    Then I feel much better knowing they did not even make a play-off nor a semi last year.. Hehe ;)

  • Comment 75, posted at 18.01.12 13:36:59 by Franshark Reply
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  • @Franshark (Comment 75) :

    :mrgreen:

    makes me H.A.P.P.Y. too !!! hehe

  • Comment 76, posted at 18.01.12 15:13:27 by Zibbie Reply
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