RUMOUR Bellamy - 10 Year Deal

[Kooly87]

I'm not stunned, I have worked in some dodgy companies but I'm not inclined to be petty or vain when it comes to my job, it is just embarrassing for those that are. Normally though, you don't have fans of a company and this is no different. No one cares about the people on a board, let's be frank. People only care if you are competent at your job or not.

I'd imagine being appointed to the Broncos board is about as cushy, prestigious and largely devoid of accountability a Directorship as you can really hope to land in the entire State of Queensland, perhaps along with the QRU, so I don't expect to see anybody who's managed to get a seat at that table being too keen to put their hand up and call for change or admit they've made mistakes and need new blood. It just isn't going to happen.

 

[Cult]

Bennett for 2 more years as coach before moving to coaching director (/buffer between incompetent board and the team) with Demetriou transitioning to head coach all of a sudden doesn’t seem so bad

“We made the right choice”

 

[Sproj]

I'd imagine being appointed to the Broncos board is about as cushy, prestigious and largely devoid of accountability a Directorship as you can really hope to land in the entire State of Queensland, perhaps along with the QRU, so I don't expect to see anybody who's managed to get a seat at that table being too keen to put their hand up and call for change or admit they've made mistakes and need new blood. It just isn't going to happen.

Which then takes us to their employers, why aren't the owner's making them accountable? If I owned a club, I would want my leadership team drawn and quartered if they led my team to a wooden spoon despite all the money and provisions they have access to. Unless of course the board also have 'really strong contracts' with no performance clauses.

 

[Kooly87]

Which then takes us to their employers, why aren't the owner's making them accountable? If I owned a club, I would want my leadership team drawn and quartered if they led my team to a wooden spoon despite all the money and provisions they have access to. Unless of course the board also have 'really strong contracts' with no performance clauses.

It's virtually impossible to be fired from a Company Director role in Australia for poor performance. The ABC only a week or two ago put out an article that provided data to demonstrate that there was basically no correlation in Australia's top 300 companies between executive and directorship salaries and company performance, so essentially they were getting similar results whether they paid top dollar and recruited elite Directors or not.

The only way to be removed is realistically for improper or illegal conduct or being voted out by your shareholders or fellow board members. Now as I've said before, if Lachlan Murdoch and News are essentially invested in the Broncos for emotional reasons and it's just a play thing for them, and as a multi billion dollar organisation they simply have much bigger things to worry about day to day, then it is exceedingly unlikely that they would be agitating for change at a board or management level.

The evidence is pretty strong that this is the case because the facts remain that we are a publicly traded company and they own nearly 70% of the club and if they had any desire to bring about change they need only have bought it to the AGM mid year or to even call for an extraordinary meeting. They hold all the votes necessary to form whatever majority they see fit and there is literally nothing stopping them filling the board and club management with any individual they see fit provided they are legally allowed to serve on a Board of Directors within Australia. If the people on the board and running the club are STILL here then it is because News Ltd want them to be here.

 

[Sproj]

It's virtually impossible to be fired from a Company Director role in Australia for poor performance. The ABC only a week or two ago put out an article that provided data to demonstrate that there was basically no correlation in Australia's top 300 companies between executive and directorship salaries and company performance, so essentially they were getting similar results whether they paid top dollar and recruited elite Directors or not.

The only way to be removed is realistically for improper or illegal conduct or being voted out by your shareholders or fellow board members. Now as I've said before, if Lachlan Murdoch and News are essentially invested in the Broncos for emotional reasons and it's just a play thing for them, and as a multi billion dollar organisation they simply have much bigger things to worry about day to day, then it is exceedingly unlikely that they would be agitating for change at a board or management level.

The evidence is pretty strong that this is the case because the facts remain that we are a publicly traded company and they own nearly 70% of the club and if they had any desire to bring about change they need only have bought it to the AGM mid year or to even call for an extraordinary meeting. They hold all the votes necessary to form whatever majority they see fit and there is literally nothing stopping them filling the board and club management with any individual they see fit provided they are legally allowed to serve on a Board of Directors within Australia. If the people on the board and running the club are STILL here then it is because News Ltd want them to be here.

Which takes us back to the old adage, the fish rots from the head down. Incompetence all over the place and no one wants to point anyone else's incompetence out because it gets very easily reflected back at the acuser.

 

[Kooly87]

Which takes us back to the old adage, the fish rots from the head down. Incompetence all over the place and no one wants to point anyone else's incompetence out because it gets very easily reflected back at the acuser.

Yeah absolutely spot on. The Broncos are just like any other under performing ASX listed company in this regard.

It's the old adage: "Success has a thousand parents, but failure is always an orphan".