Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Save The World Air Inc. (ZERO) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (125)	7/11/2000 7:03:46 PM
From: Q.	Read Replies (1) \| Respond to of 445

December 3, 1998, Thursday SECTION: Nationwide General News; Sport (Domestic) LENGTH: 771 words HEADLINE: RL: Chargers axed from NRL competition BYLINE: By Chris Herde BODY: GOLD COAST, Dec 3 AAP - Concerned Gold Coast rugby league captain Jamie Goddard today lashed out at the lack of loyalty to players after the axe finally fell on the struggling National Rugby League club. The Chargers had been on death row for more than two months hoping for a last minute pardon but, after months of speculation, their worst fears were realised when officials confirmed the club would not take part in next year's competition. The news ended 11-years of mediocrity and financial difficulty, with the club's ownership changing hands on four occasions since its founding in 1988 as the Gold Coast Giants - each time without success. After being taken over by the then wealthy Seagulls Leagues Club in 1990, Gold Coast almost folded in 1996 but was propped up by the Australian Rugby League following the failure of a brief flirtation with controversial property developer Jeff Muller. While the club has $1.8 million in the bank, ARL chief executive David Barnhill conceded it would have struggled to meet the NRL's criteria for cutting the competition to 14 teams in 2000 and claimed it was better to get out while the Chargers could honour their commitments. "We had a criteria that we had to meet to play in the year 2000 and at this time this club can meet every commitment that it has to and honour agreeements with players and staff," Barnhill said. "That may not have been in place at the end of the (1999) season." Goddard is now tipped to sign with North Sydney, while prop Clinton O'Brien is weighing up offers from Sydney City and North Queensland but confirmation of the club's demise was distressing for many players and staff just three weeks from Christmas. "We're very disappointed and worried about our future," Goddard told AAP. "I don't know whether it was a planned execution but I think it's pretty coincidental that the rumours were around three months ago that both Adelaide and the Gold Coast teams would be folding in 1999. "I think the whole episode has been so poorly handled and ... it's not a real good Christmas coming on." It was understood the seven-member Gold Coast board voted 5-2 last night to withdraw the team from the 1999 competition and Barnhill acknowledged that chief executive Peter Armstrong and directors Ray Murray and Bill Carroll had argued strongly against the move. However, the board was stacked with ARL nominees after Barnhill led a coup that resulted in the sacking former chairman Tom Bellew and two other directors two months ago over their resistance to a proposed three-way merger with Balmain and Brisbane Easts. Bellew had scuttled earlier merger attempts with the now defunct South Queensland Crushers and Hunter Mariners - the latter would have guaranteed Gold Coast's survival. But Barnhill denied any deal was done with News Limited - owner of the Mariners and this week's other condemned team Adelaide - to wind up the Chargers. The axing of the two brought to five the number of clubs outside of Sydney which have folded since Super League and the Australian Rugby League declared a truce 12 months ago while Illawarra has merged with St George. There are now 17 teams committed to the 1999 premiership but that could be reduced to 16, with NRL sources confident of a joint venture between Balmain and another Sydney club. Armstrong said he was confident Gold Coast would have had money in the bank at the end of next season if they were allowed to play and also queried the direction on the NRL competition. "We're supposed to be in an national competition and now we have only two teams in Queensland and one (Brisbane) is (privately) owned and the other (North Queensland) propped up by News Limited," Armstrong said. He said 10 permanent staff had been made redundant and over 30 players would have to look for new clubs. Chargers coach Phil Economidis, who is seeking legal advice after recently signing a new two-year contract, said it was a sad day for the club but added that a hard decision had been made. "Unfortunately we are going to have to get on with it and rugby league has suffered enough terrorism," Economidis said. "Our game certainly does not need anymore controversy. "It's been a continuous saga down here over the past four years we've been on the cutting edge and whilst I'm not breathing a sigh of relief I'm very disappointed and shattered but at this stage it's too late to do anything." Economidis confirmed he had knocked back coaching offers a few months ago in the belief that the Chargers would survive. LANGUAGE: ENGLISH LOAD-DATE: December 3, 1998