At least $1mill in debt, last sold for $2mill, in six figure debt then as well. Would take a further investment of about $3mill a year to hold them steady, $4-5mill a season to even consider turning them around, guaranteed to make a significant 6-7 figure loss for a few years either way. Spending more on marketing than most NBL teams total overall annual budgets, but that's not enough to buy any advertising, even in local newspapers. In a market that is about to become far more crowded with the addition of a second A-League and 2nd AFL team. Possibility their current stadium, which costs $40K just to open the doors, will be demolished soon, leaving the team with the choice of either the 20K capacity Superdome, which costs at least twice as much to rent, or 4K capacity SSC (where the Pigs currently play), which resigns you to monkey sport status for 20 years, stadium being old, small and 20K away from the CBD. Winning coach and half the players a good chance to walk as soon as they legally can. No media attention. No guarantee even game results will be published/reported, let alone proper news/stories. Certainly not on tv ever, not even results. 8 NRL teams, 1 AFL team to become 2 AFL teams, 1 A-League team to become 2 A-League teams. 1 Super 14 team. Millions and millions behind all of them. Toughest sports market in the world, toughest entertainment market in the country.
Welcome to Sydney. Any takers?