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The National And Li Merger


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#16 Tigerblood

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Posted 20 November 2014 - 09:00 AM

The land and course has been guaranteed for 5 years, between 5 - 10 years if they want to sell it gues to a majority vote of LI members
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#17 Rsc41

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Posted 20 November 2014 - 09:03 AM

Know nothing about these clubs, but do you think they would have any chance of getting it through if it was widely rumored that they were just going to sell off the land (which sounds like it might be the likely end game). And as far as clubhouse improvements go. 250k is not that much in the scheme of things. Especially if they have a multi million development deal waitiing in the wings 5-10 years down the track

#18 Flusher69

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Posted 20 November 2014 - 09:05 AM

Its a weird merger then as i can really put my finger on what the national members get out of this deal? LI members are the big winners here
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#19 Drive4Show

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Posted 20 November 2014 - 09:06 AM

As soon as the merger goes through, $250k is being pumped into the clubhouse for upgrades, don't think they'd bother if the intend to sell it


$250k is small change compared to what the land is worth. Let's talk in 5 years after the deal goes through.

#20 tunga

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Posted 20 November 2014 - 09:28 AM

Hey, long time lurker, but this topic finally made me make an account to post.

 

As a LI member the merger does nothing for me except for a slightly updated club house. But 250k wont give it much of an improvement really. The National's course are too far away to be played more than a couple of times a year.

 

Correct me if I am wrong but wont this merger allow The National to enter a team in Metro Pennant? That would be a good reason for some of The Nationals members to vote for it. 

 

I fully expect this not to go through, even with the LI course guaranteed to stay for at least 5 years. Just hard to see a benefit for both sides, even though I will be voting for it.



#21 Flusher69

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Posted 20 November 2014 - 09:46 AM

Im pretty sure 95% of the national members couldnt give a shite about vga pennant and the 5% that do care are all probebly members of vga pennant team clubs as well!
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#22 Scratch64

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Posted 20 November 2014 - 09:54 AM

Tunga, 

 

Surely as a LI member you can see that this deals offers you more than just an updated club house, it will offer the club and members a secure future.

 

I too hope this deal goes through as I doubt LI will be in another position like this in the foreseeable future with a deal as solid as this.

 

Even if the Nash do end up selling the LI course that's at least a minimum of 15yrs away and who know in 15yrs time it might be the right decision to sell off the land and make a packet and again ensure the continual financial strength of the Nash as a club. 

 

I think from a personal view looking at it from an individuals perspective as a Nash member this merger would on the surface offer nothing more than unwanted neighbors moving into your neighborhood, taking up space and creating waves in an otherwise calm sea.

 

But if Nash members can look past their initial emotional response to the situation presented to them, perhaps they can see the vision their board has for the future of the club and where it sits financial today and into the future.

 

Fingers crossed the deal gets done but at least the dream was good while it lasted.



#23 Dizzy99

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Posted 20 November 2014 - 09:58 AM

As an LI member I hope this goes through, great opportunity for our club, current course guaranteed for 5 years and its future in our hands and not Nationals for years 5 to 10.

 

True that 250k is not a lot, but that is the mimimum immediate spend being guaranteed and at least doubling the annual spend on the course will only further improve what is already a great track.

 

We all ask what's in it for the National, well they do get $35 million in assets added to their books and their members get the value add of another high quality course to play at no extra cost.

 

I doubt there will be a great deal more pressure on weekend timesheets at the National, most LI members aren't going to drive down there every weekend to play. If 20% of the Saturday field made the trip down, that would be 40 additional players spread across the 3 courses


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#24 Acheron

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Posted 20 November 2014 - 10:24 AM

Very interesting possibilities. Wonder how different membership models work as well - National being a transferable share system?

Would National consider selling LI course to a cashed up Peninsula-Kingswood in a few years.

Perhaps for National this is not about existing membership (who we know often already have city clubs..). But offering incentive to new members. I.e join National and get a city (ish) option thrown in.

The National is the best golf set up in the country (excluding Royal Melbourne..), the negative is always going to be the distance. A metro area course might attract more members.

Also adds value to existing members "investment" as potentially improves their resale option on memberships..

#25 RobNewy

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Posted 20 November 2014 - 11:49 AM

A few comments have been chucked around saying LI members won't travel that far every weekend.

Its 40 mins max!

#26 Birdseed

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Posted 20 November 2014 - 12:10 PM

[quote name="RobNewy" post="1291393" timestamp="1416448192"]

A few comments have been chucked around saying LI members won't travel that far every weekend.

Its 40 mins max!

It can take you that long to turn out of your driveway on a Saturday in Sydney...
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#27 CaNadiAn MiCk

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Posted 20 November 2014 - 12:20 PM

fyi  hot off the press

 

http://www.golfindus...-to-merge-12643


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#28 SdoggyK

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Posted 20 November 2014 - 12:30 PM

Knowing some of the guys on the board at the nash. They dont loose. Period. They would not be taking this to the members if it wasnt going to get up i reckon. Massive up side for longy members. I can see nash members might be hesitant but at the least it has to help the share price. 35 mill asset and better value.
It is pretty much 45mins driven there plenty. Worse in summer. Much worse.

#29 StephenG42

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Posted 20 November 2014 - 01:14 PM

There was a proposal quite a few years ago to add a further 2 courses on site to the 3 already at The National.

 

That proposal did not get the required 75%.

 

From all of the current National Members I have spoken to, they are not viewing this in a positive light and I think there is a very good chance they will not reach 75%.

 

For this type of proposal to work properly it would need to be a true city course.



#30 Tigerblood

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Posted 20 November 2014 - 04:40 PM

Iv been extremely impressed with the board and management in my dealings with them.

 

I have the utmost faith that if the club believes its beneficial than i would back them in, having said that I'm just leasing a share so I don't get a say anyway.

 

It is absolutely beneficial to The Nash purely from a business perspective, think of what their borrowing power is now with the extra assets/equity on their books.

 

There is less benefit to the member themselves but it's probably best to look at it like a future fund, if things turn to **** in 10 years time they have the land as a bailout option.

 

If they keep going from strength to strength then who knows, Woodlands, Spring Valley might get on board.


<p>Hole In One Eastwood 17th 153 mtrs, 27/12/12
Hole In One Peninsula Kingswood South 3rd 165 mtrs 19/08/19




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