Western United Thread


Western United Thread

Author
Message
Carlito
Carlito
Legend
Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)

Group: Forum Members
Posts: 28K, Visits: 0
MarkfromCroydon - 5 Dec 2019 7:23 PM
soccerfoo - 5 Dec 2019 6:52 PM

They still have not even started the planning process. 

It really is time that they started the planning process and that they started showing the community the planning process has begun.

It's not good that there's no movement yet after all this time.

It really is treating the community like fools and that is putting people offside before they've even started consulting with locals.

I want this stadium to get built, and get built soon, but I'm quite worried that there's an issue we're not being told about given the delay.


This.  And if the council  bypass the planning stage and it gets approved the lnp  will have a field day . Lou  sticca  screwed up by stating  its shovel ready 
Waz
Waz
Legend
Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)

Group: Forum Members
Posts: 19K, Visits: 0
They are supposedly announcing “permission to build” the stadium on Friday. . If the language is correct that’s the stage after planning permission. Lets see what they say. 
Edited
6 Years Ago by Waz
Carlito
Carlito
Legend
Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)

Group: Forum Members
Posts: 28K, Visits: 0
Waz - 5 Dec 2019 9:43 PM
They are supposedly announcing “permission to build” the stadium on Friday. . If the language is correct that’s the stage after planning permission. Lets see what they say. 

They still need  planning permission and that usually entails having the right  to tender  in the papers and any objections as  well. If they bypass it , itll be a huge shit storm from the  lnp  and media 
Waz
Waz
Legend
Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)

Group: Forum Members
Posts: 19K, Visits: 0
MvFCArsenal16.8 - 5 Dec 2019 10:08 PM
Waz - 5 Dec 2019 9:43 PM

They still need  planning permission and that usually entails having the right  to tender  in the papers and any objections as  well. If they bypass it , itll be a huge shit storm from the  lnp  and media 

It will be interesting to see what they announce tomorrow. 

The language used sounds like it’s the DA being issued tomorrow 
charlied
charlied
Pro
Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)

Group: Forum Members
Posts: 2.4K, Visits: 0
Enzo Bearzot - 3 Dec 2019 4:42 PM
CS - 26 Nov 2019 1:36 PM

Truth hurts eh?

More truth:

"Due to inadequate access to hospitals, prolonged transfer times and extended waits in emergency departments, avoidable deaths of patients are now becoming a regular occurrence in the district of Melton," the letter reads...

""Why is Melton being neglected when all comparable population centres in Victoria have hospitals with 24-hour emergency departments, operating theatres, acute beds and psychiatric facilities?"

https://www.theage.com.au/politics/victoria/new-hospital-for-melbourne-s-west-a-step-closer-20191203-p53g9i.html

Why? Because the morons keep voting Labor.



This isn't a political forum. Take your garbage somewhere else. 
Footyball
Footyball
Pro
Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)Pro (4K reputation)

Group: Forum Members
Posts: 3.8K, Visits: 0
MarkfromCroydon - 5 Dec 2019 7:23 PM
soccerfoo - 5 Dec 2019 6:52 PM

They still have not even started the planning process. 

It really is time that they started the planning process and that they started showing the community the planning process has begun.

It's not good that there's no movement yet after all this time.

It really is treating the community like fools and that is putting people offside before they've even started consulting with locals.

I want this stadium to get built, and get built soon, but I'm quite worried that there's an issue we're not being told about given the delay.


It is all ready to go unless it was a lie. Where is your evidence?
someguyjc
someguyjc
Pro
Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)

Group: Forum Members
Posts: 4.1K, Visits: 0
soccerfoo - 6 Dec 2019 8:39 AM
MarkfromCroydon - 5 Dec 2019 7:23 PM

It is all ready to go unless it was a lie. Where is your evidence?

Typically any development project needs to go through the public planning process. That means plans need to be submitted and then the public has the opportunity to review and make objections as they see fit. This is especially the case when public land is being handed over to a private company. None of this has happened yet. There is the possibility that they have bypassed this process, which is legal but has the potential to be political suicide if the community object in great numbers. 
Feed_The_Brox
Feed_The_Brox
Pro
Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)

Group: Forum Members
Posts: 3.3K, Visits: 0
someguyjc - 6 Dec 2019 8:58 AM

Typically any development project needs to go through the public planning process. That means plans need to be submitted and then the public has the opportunity to review and make objections as they see fit. This is especially the case when public land is being handed over to a private company. None of this has happened yet. There is the possibility that they have bypassed this process, which is legal but has the potential to be political suicide if the community object in great numbers. 

how does this work if the land is a long way away from any residential housing right now? there are no roads leading into the site. is this where there could be a loophole? beause it seems like they might have found one. it would obviously help if the council is a shareholder (which is alsmost a certainty). 
Edited
6 Years Ago by Feed_The_Brox
Clarency
Clarency
Weekender
Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)

Group: Forum Members
Posts: 43, Visits: 0
charlied - 6 Dec 2019 12:40 AM
Enzo Bearzot - 3 Dec 2019 4:42 PM

This isn't a political forum. Take your garbage somewhere else. 

+1
Clarency
Clarency
Weekender
Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)Weekender (48 reputation)

Group: Forum Members
Posts: 43, Visits: 0
https://www.miragenews.com/western-united-wyndham-city-stadium-reaches-major-milestone/

The vision to develop a 15,000-seat stadium as the home ground of the Western United Football Club has taken a major step forward with the completion of site investigations.

---

“This stadium and the surrounding precinct will be a great asset for the whole community of the West once completed. Today, we achieve another milestone, on our journey with Wyndham City, which began with the dream of bidding for an A-League licence. There are certainly some challenges ahead given the scale of this project, however I’m confident we’ll be turning soil by mid-next year.”


Heart_fan
Heart_fan
World Class
World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)

Group: Forum Members
Posts: 8K, Visits: 0
Clarency - 6 Dec 2019 2:13 PM
https://www.miragenews.com/western-united-wyndham-city-stadium-reaches-major-milestone/

The vision to develop a 15,000-seat stadium as the home ground of the Western United Football Club has taken a major step forward with the completion of site investigations.

---

“This stadium and the surrounding precinct will be a great asset for the whole community of the West once completed. Today, we achieve another milestone, on our journey with Wyndham City, which began with the dream of bidding for an A-League licence. There are certainly some challenges ahead given the scale of this project, however I’m confident we’ll be turning soil by mid-next year.”


Mid-next year???? Wow, looks like a long and tiring journey ahead for them. 

Traction has been limited already and there are few signs of that improving in the near term. Looks like they will have to wait another season - given that a mid year start in 2020 and 20 months construction at best case will see this completed towards the end of the 2021/22 season.





Blew.2
Blew.2
Rising Star
Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)

Group: Forum Members
Posts: 753, Visits: 0
As we move forward to develop the Sayers Road sports precinct in Tarneit
https://www.wufc.com.au/news/western-uniteds-wyndham-city-stadium-reaches-major-milestone


Clear Contact There

CS
CS
Rising Star
Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)Rising Star (971 reputation)

Group: Forum Members
Posts: 913, Visits: 0
Heart_fan - 6 Dec 2019 2:24 PM
Clarency - 6 Dec 2019 2:13 PM

Mid-next year???? Wow, looks like a long and tiring journey ahead for them. 

Traction has been limited already and there are few signs of that improving in the near term. Looks like they will have to wait another season - given that a mid year start in 2020 and 20 months construction at best case will see this completed towards the end of the 2021/22 season.





It's now clear that this club has been pedaling outright bullshit since they started.  I don't believe a thing they say about this stadium, and I'm picking that not only will there be no stadium, but also that within 3 years there will be no club.  Lou Sticca should hang his head in shame.  I don't know much about him apart from the obvious, but if he had any credibility in football, it's gone now.

The last act of the old FFA regime turns out to be the usual debacle we had come to expect from Gallop and Lowy.
Edited
6 Years Ago by CS
Feed_The_Brox
Feed_The_Brox
Pro
Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)Pro (3.4K reputation)

Group: Forum Members
Posts: 3.3K, Visits: 0
CS - 6 Dec 2019 2:42 PM

It's now clear that this club has been pedaling outright bullshit since they started.  I don't believe a thing they say about this stadium, and I'm picking that not only will there be no stadium, but also that within 3 years there will be no club.  Lou Sticca should hang his head in shame.  I don't know much about him apart from the obvious, but if he had any credibility in football, it's gone now.


I agree with the highlighted bits. the rest is bullshit. The stadium is coming, but they have lied to us the whole way through. I have never been a fan of Sticca with all of these plastic theatre going football events he's brought to australia, but he'll help leave a legacy for the game with this stadium. for that I can't hate him. 
scubaroo
scubaroo
Pro
Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)Pro (3K reputation)

Group: Forum Members
Posts: 2.8K, Visits: 0
Wait for there to be some species of ant not found anywhere else in victoria to be found in the paddock. That'll slow them down.  😁
Carlito
Carlito
Legend
Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)Legend (28K reputation)

Group: Forum Members
Posts: 28K, Visits: 0
Feed_The_Brox - 6 Dec 2019 1:15 PM
someguyjc - 6 Dec 2019 8:58 AM

how does this work if the land is a long way away from any residential housing right now? there are no roads leading into the site. is this where there could be a loophole? beause it seems like they might have found one. it would obviously help if the council is a shareholder (which is alsmost a certainty). 


Still needs to to thru it. Look at the uproar about the proposed  juvenile prison in werribee South. Litterally nowhere near residential areas but the uproar was insane .
MarkfromCroydon
MarkfromCroydon
Semi-Pro
Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)Semi-Pro (1.8K reputation)

Group: Forum Members
Posts: 1.7K, Visits: 0
soccerfoo - 6 Dec 2019 8:39 AM
MarkfromCroydon - 5 Dec 2019 7:23 PM

It is all ready to go unless it was a lie. Where is your evidence?

You’re asking me to provide evidence that there is no evidence of a planning application being made?
Ummm, I simply don’t know how to respond.
Waz
Waz
Legend
Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)Legend (19K reputation)

Group: Forum Members
Posts: 19K, Visits: 0
This appears to be their big stadium news today:

https://www.miragenews.com/western-united-wyndham-city-stadium-reaches-major-milestone/

next step is planning application (they say). 

Not quite the expected “big news” being hinted at yesterday but there is at least some detail in there. 
Gyfox
Gyfox
Legend
Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)Legend (13K reputation)

Group: Forum Members
Posts: 13K, Visits: 0
With (if) all the pre-approval investigation finished the project is approx 20% complete.
bettega
bettega
World Class
World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)

Group: Forum Members
Posts: 4.8K, Visits: 0

Western United they stand in soccer’s field of dreams

They’re the trio of 40-something schoolmates from Melbourne’s northwest trying to pull off a first in Australian sports business: a privately owned $180m stadium surrounded and funded by more than 40ha of residential and commercial property.
A-League soccer club Western United have huge plans, and quite a few sceptics who say they will never see a shovel in the ground on what is currently a cow paddock and that the A-League’s newest club is a disaster in the making.
Yet Western United chairman Jason Sourasis is adamant he and his team, who this week marked 12 months since being awarded an A-League licence, have the nous and funds to pull off what would be a groundbreaking Australian sports project.


https://www.theaustralian.com.au/business/united-they-stand-in-soccers-field-of-dreams/news-story/fab6ed1f0817681c545cf66d8ce0f09b


paladisious
paladisious
Legend
Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)

Group: Moderators
Posts: 39K, Visits: 0
Interesting that two AFL captains are among the investors, and the main people in the consortium do seem to be football people, but the long story short is that the stadium still isn't funded, even if they have clearly done a lot of work so far.

It does make sense in fairness that they need the entire development greenlit before starting the stadium, as that's how it's to be funded.
Edited
6 Years Ago by paladisious
bettega
bettega
World Class
World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)

Group: Forum Members
Posts: 4.8K, Visits: 0
paladisious - 15 Dec 2019 5:12 PM
Interesting that two AFL captains are among the investors, and the main people in the consortium do seem to be football people, but the long story short is that the stadium still isn't funded, even if they have clearly done a lot of work so far.

It does make sense in fairness that they need the entire development greenlit before starting the stadium, as that's how it's to be funded.

Also, we are a bit closer to knowing who is behind the bid, although the article seems to hint of the possibility of these guys representing some big money from overseas.

paladisious
paladisious
Legend
Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)Legend (40K reputation)

Group: Moderators
Posts: 39K, Visits: 0
Full text:

Western United they stand in soccer’s field of dreams

They’re the trio of 40-something schoolmates from Melbourne’s northwest trying to pull off a first in Australian sports business: a privately owned $180m stadium surrounded and funded by more than 40ha of residential and commercial property.
A-League soccer club Western United have huge plans, and quite a few sceptics who say they will never see a shovel in the ground on what is currently a cow paddock and that the A-League’s newest club is a disaster in the making.

Yet Western United chairman Jason Sourasis is adamant he and his team, who this week marked 12 months since being awarded an A-League licence, have the nous and funds to pull off what would be a groundbreaking Australian sports project.

In an interview with The Weekend Australian, Sourasis reveals for the first time some of the investors behind the fledgling club include prominent AFL footballer and Collingwood captain Scott Pendlebury, North Melbourne captain Jack Ziebell and NBA basketballer Dante Exum.

Along with Sourasis’s fellow club directors John Tripodi and Levent Shevki — the trio attended the Melbourne private school, Penleigh and Essendon Grammar, together — Sourasis and his investors have so far put $30m into Western United.


Eventually at least $100m will be raised in total from wealthy investors and family offices to kickstart a residential property project that will ultimately help underpin the construction of a 15,000-capacity soccer-specific stadium built by construction firm Probuild and designed by architects Populous, all part of a private-public partnership with Wyndham City Council.

In a country where all the big arenas are owned by state authorities bar the AFL’s Marvel Stadium in inner Melbourne, Western United plan within five to six years to control their own stadium, and all the revenues associated with it, and be surrounded by several new apartment blocks, housing lots, a large hotel, commercial office space, shops, bars and parkland.

Sourasis insists the project in Melbourne’s western suburb of Tarneit, about 30km from the CBD, will gain the necessary government planning approvals — and raise sufficient capital — to build a huge mixed-use project with an end value potentially in the billions of dollars on more than 60ha that he hopes to have under construction by the middle of next year.

“We acknowledge the enormity of this project and some people may find it difficult to get their head around it,” Sourasis says.

Besart Berisha of Western United FC celebrates a goal in Geelong. Picture: AAPBesart Berisha of Western United FC celebrates a goal in Geelong. Picture: AAP
“The development plan we’ve proposed, and the way we are executing that plan, has not been undertaken before in Australian professional sport. The reality is that projects of this scale are never easy or straightforward. We are well aware of the tight timelines around stadium design and construction, and I’m pleased to say that we are on track and progressing to plan.”

Sourasis and his two fellow directors head the private investment fund that owns 85 per cent of Western United, with founders Steve Horvat, a former Socceroo who is head of football, former KPMG partner Maurice Bisetto and football agent Lou Sticca each holding 5 per cent stakes.

An investment adviser who has made good profits on several commercial property deals in recent years, Sourasis is a one-time owner of a sports management agency who heads Jaszac Investments, which has clients who have invested in sporting, property, marketing and entertainment assets.

Tripodi is the chief executive of the Twenty23 marketing and media agency, which has Eddie McGuire and Paul Dainty among its board members, while Shevki is a commercial lawyer and partner of law firm Cornwall Stodart and director of AFL club Western Bulldogs.

Sourasis says the trio has long either played soccer or been fans of the sport and kept an eye on the A-League as it has grown and more recently hit some significant hurdles. The three were introduced to the investment opportunity before Western United was awarded an A-league licence by Football Federation Australia 12 months ago.

The $30m raised from investors helped pay the $18m expansion fee to FFA and working capital for the current season — during which the club is playing home games in Geelong and Ballarat and is likely to lose at least $5m — and beyond.

While Sourasis and his directors have mostly avoided the limelight in the past year, he says they have been busy behind the scenes working with Wyndham Council, with which they have struck a deal for the parcel of land (he will not reveal terms) and last week achieved a major step with the completion of site inspections including soil tests, fauna and flora and geotech analysis.

Besart Berisha of Western United gets the ball past Victory goalkeeper Lawrence Thomas earlier this month in Geelong, Australia. Picture: Getty ImagesBesart Berisha of Western United gets the ball past Victory goalkeeper Lawrence Thomas earlier this month in Geelong, Australia. Picture: Getty Images
Next comes gaining planning permissions, works permits and finalising a draft masterplan for the precinct. Sourasis says his group will either raise funds to build the project or could sell a stake to a property developer.

That would release funds to build the stadium, which they hope to be in within about three years, and a commercial precinct that could include a hotel, shops, restaurants and bars, as well as a training centre for the club and potentially an indoor sports arena.

If it sounds far-fetched in an Australian context, Sourasis says the Western United group is merely borrowing a model common in the US, where club owners across major sports such as American football, baseball, basketball and soccer own their venues and have developed a range of revenue-generating property projects on surrounding land.

Even so, there have been rumours of cash flow problems that have seen players paid late this season — Sourasis denies this — and that Chinese money or even Middle Eastern investors are ultimately behind the project.

Sourasis says all the investors are Australian, though the original concept was worked on by a Hong Kong consortium before they withdrew from bidding for a licence last year.

Ultimately, Sourasis insists sufficient funding will be raised.

“Football has a long history of naysayers that are driven by their own agendas,” he says. “I acknowledge what we’re attempting is not an easy task, but we are having a go. I would not have involved myself in this transaction if I thought it wasn’t a good deal.”


Heart_fan
Heart_fan
World Class
World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)World Class (8.1K reputation)

Group: Forum Members
Posts: 8K, Visits: 0
As much as transparency is key, some of that failed to instill any confidence that this will work.

- Timeline on the entire development seems contingent on a few factors to raise the cash. That goes against much of the public comments by club spokespeople over the past year.
- Rumours of late payments to players? First I had heard of it but if true (should be easy enough to figure out the truth on that one), red flags would seriously be up already. 
- Burning up $5 million in losses in a year? That may well include significant start up costs, but operationally it is unlikely to improve until they move into a new stadium. That’s a lot of red ink to sustain in a few years.

The investor group seems to be quite diverse which is good, but it’s hard to have too much confidence in it all because of the ongoing game of smoke and mirrors that seems to surround the club.

bettega
bettega
World Class
World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)World Class (5K reputation)

Group: Forum Members
Posts: 4.8K, Visits: 0
They started with $30 mill.
$18 mill went on the license.
They'll burn through close to the remaining $12 million over the first two seasons.
So....they are going to need another massive cash injection, and that's before we even start considering the building of  a $180 million stadium.

charlied
charlied
Pro
Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)Pro (2.5K reputation)

Group: Forum Members
Posts: 2.4K, Visits: 0
paladisious - 15 Dec 2019 5:56 PM
Full text:

Western United they stand in soccer’s field of dreams

They’re the trio of 40-something schoolmates from Melbourne’s northwest trying to pull off a first in Australian sports business: a privately owned $180m stadium surrounded and funded by more than 40ha of residential and commercial property.
A-League soccer club Western United have huge plans, and quite a few sceptics who say they will never see a shovel in the ground on what is currently a cow paddock and that the A-League’s newest club is a disaster in the making.

Yet Western United chairman Jason Sourasis is adamant he and his team, who this week marked 12 months since being awarded an A-League licence, have the nous and funds to pull off what would be a groundbreaking Australian sports project.

In an interview with The Weekend Australian, Sourasis reveals for the first time some of the investors behind the fledgling club include prominent AFL footballer and Collingwood captain Scott Pendlebury, North Melbourne captain Jack Ziebell and NBA basketballer Dante Exum.

Along with Sourasis’s fellow club directors John Tripodi and Levent Shevki — the trio attended the Melbourne private school, Penleigh and Essendon Grammar, together — Sourasis and his investors have so far put $30m into Western United.


Eventually at least $100m will be raised in total from wealthy investors and family offices to kickstart a residential property project that will ultimately help underpin the construction of a 15,000-capacity soccer-specific stadium built by construction firm Probuild and designed by architects Populous, all part of a private-public partnership with Wyndham City Council.

In a country where all the big arenas are owned by state authorities bar the AFL’s Marvel Stadium in inner Melbourne, Western United plan within five to six years to control their own stadium, and all the revenues associated with it, and be surrounded by several new apartment blocks, housing lots, a large hotel, commercial office space, shops, bars and parkland.

Sourasis insists the project in Melbourne’s western suburb of Tarneit, about 30km from the CBD, will gain the necessary government planning approvals — and raise sufficient capital — to build a huge mixed-use project with an end value potentially in the billions of dollars on more than 60ha that he hopes to have under construction by the middle of next year.

“We acknowledge the enormity of this project and some people may find it difficult to get their head around it,” Sourasis says.

Besart Berisha of Western United FC celebrates a goal in Geelong. Picture: AAPBesart Berisha of Western United FC celebrates a goal in Geelong. Picture: AAP
“The development plan we’ve proposed, and the way we are executing that plan, has not been undertaken before in Australian professional sport. The reality is that projects of this scale are never easy or straightforward. We are well aware of the tight timelines around stadium design and construction, and I’m pleased to say that we are on track and progressing to plan.”

Sourasis and his two fellow directors head the private investment fund that owns 85 per cent of Western United, with founders Steve Horvat, a former Socceroo who is head of football, former KPMG partner Maurice Bisetto and football agent Lou Sticca each holding 5 per cent stakes.

An investment adviser who has made good profits on several commercial property deals in recent years, Sourasis is a one-time owner of a sports management agency who heads Jaszac Investments, which has clients who have invested in sporting, property, marketing and entertainment assets.

Tripodi is the chief executive of the Twenty23 marketing and media agency, which has Eddie McGuire and Paul Dainty among its board members, while Shevki is a commercial lawyer and partner of law firm Cornwall Stodart and director of AFL club Western Bulldogs.

Sourasis says the trio has long either played soccer or been fans of the sport and kept an eye on the A-League as it has grown and more recently hit some significant hurdles. The three were introduced to the investment opportunity before Western United was awarded an A-league licence by Football Federation Australia 12 months ago.

The $30m raised from investors helped pay the $18m expansion fee to FFA and working capital for the current season — during which the club is playing home games in Geelong and Ballarat and is likely to lose at least $5m — and beyond.

While Sourasis and his directors have mostly avoided the limelight in the past year, he says they have been busy behind the scenes working with Wyndham Council, with which they have struck a deal for the parcel of land (he will not reveal terms) and last week achieved a major step with the completion of site inspections including soil tests, fauna and flora and geotech analysis.

Besart Berisha of Western United gets the ball past Victory goalkeeper Lawrence Thomas earlier this month in Geelong, Australia. Picture: Getty ImagesBesart Berisha of Western United gets the ball past Victory goalkeeper Lawrence Thomas earlier this month in Geelong, Australia. Picture: Getty Images
Next comes gaining planning permissions, works permits and finalising a draft masterplan for the precinct. Sourasis says his group will either raise funds to build the project or could sell a stake to a property developer.

That would release funds to build the stadium, which they hope to be in within about three years, and a commercial precinct that could include a hotel, shops, restaurants and bars, as well as a training centre for the club and potentially an indoor sports arena.

If it sounds far-fetched in an Australian context, Sourasis says the Western United group is merely borrowing a model common in the US, where club owners across major sports such as American football, baseball, basketball and soccer own their venues and have developed a range of revenue-generating property projects on surrounding land.

Even so, there have been rumours of cash flow problems that have seen players paid late this season — Sourasis denies this — and that Chinese money or even Middle Eastern investors are ultimately behind the project.

Sourasis says all the investors are Australian, though the original concept was worked on by a Hong Kong consortium before they withdrew from bidding for a licence last year.

Ultimately, Sourasis insists sufficient funding will be raised.

“Football has a long history of naysayers that are driven by their own agendas,” he says. “I acknowledge what we’re attempting is not an easy task, but we are having a go. I would not have involved myself in this transaction if I thought it wasn’t a good deal.”


It's not going to happen. Could it be more obvious? 

BullsFC
BullsFC
Hardcore Fan
Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)Hardcore Fan (281 reputation)

Group: Banned Members
Posts: 274, Visits: 0
There not even covering stadium cost with there 4k crowds and they will be broke cum next season. Liars! 
SMFC and proud
SMFC and proud
Semi-Pro
Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)Semi-Pro (1.1K reputation)

Group: Forum Members
Posts: 1.1K, Visits: 0
An absolute shambles. From green light, shovel read, fully funded stadium blah blah blah etc etc to we’re trying to raise the cash somehow. Everything about WU seems to a behind the scenes mystery with a good doses of bullshit and hoodwink. Decent team and good results so far but no one gives a shit. Crowds are simply appalling. You can only imagine what another 3+ years of multi million dollar losses will do to this franchise until this mythical stadium gets built or even gets through the planning stage.
Edited
6 Years Ago by SMFC and proud
Blew.2
Blew.2
Rising Star
Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)Rising Star (776 reputation)

Group: Forum Members
Posts: 753, Visits: 0
From earlier press release: 
"The development, being undertaken by Western Melbourne Group and Wyndham City Council, will be the first major sports stadium built in Australia via a public-private-partnership. “We understand that those looking in from the outside think that nothing has been happening, but behind the scenes we have been racing to complete all the background reports any development needs to undertake prior to starting construction,” said Wyndham City Lead for the project, Director of Deals, Investment and Major Projects, Kate Roffey."

Shovel Ready - Fully Funded - Private Ownership?
Yep shore thing Team

Clear Contact There

someguyjc
someguyjc
Pro
Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)Pro (4.5K reputation)

Group: Forum Members
Posts: 4.1K, Visits: 0
BullsFC - 15 Dec 2019 10:58 PM
There not even covering stadium cost with there 4k crowds and they will be broke cum next season. Liars! 

To be fair, the majority of HAL clubs don't cover stadium costs from crowds. Even MV only make money at Marvel, but lose money at AAMI. The majority of clubs have been losing millions of dollars each year for 15 years now. If the other clubs can continue to operate, WU will be no different as long as their owners are willing to inject money each year.
That being said, I can still imagine 3 years from now the WU stadium being half completed and construction halted due to unpaid invoices.
GO


Select a Forum....























Inside Sport


Search