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News GFG on board as joint major sponsor
- Thread starter Ford Fairlane
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- Jan 14, 2008
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Paid $3 million for 10 year sponsorship? Probably need to honour.
As mentioned, it’s not for us to get involved in politics as a club.
- Jul 1, 2017
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Not sure GFG will be around much longer. He just had to borrow money to pay wages and after that who knows. He is doing his usual trick of putting the business into insolvency and moving on.
When asked about this at the AGM I thought the answer was a bit cagey.
They didn't directly answer the question about whether we are getting paid but rather focused on the previous moneys we got from GFG and how important they were at a crucial time and how well supported we are by our other sponsors.
Whatever happens we should be grateful for the support GFG gave us when we needed it most.
On SM-G975F using BigFooty.com mobile app
They didn't directly answer the question about whether we are getting paid but rather focused on the previous moneys we got from GFG and how important they were at a crucial time and how well supported we are by our other sponsors.
Whatever happens we should be grateful for the support GFG gave us when we needed it most.
On SM-G975F using BigFooty.com mobile app
RussellEbertHandball
Flick pass expert
Nah, they are paying over $1mil a year to be on the guernsey.
TeeKray
Moderator
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Our other major sponsors are a fried chicken company and a CCP owned car company, we obviously have no real ESG filters for our sponsorships (which I'm fine with).
RussellEbertHandball
Flick pass expert
You can do the same analysis for every club and get a similar result.
"We exist to ... and make our community proud". Except for when it comes to sponsorships. Then its fast food, a Chinese Car Company and a billionaire that stiffs his workers...
Sydney with Qatar Airlines and being all up and about promoting a "Pride Match" is the best.
Ford Fairlane
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- Feb 21, 2002
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SparklingAle69 from Whyalla, who could that be?
Hannah Ewings.SparklingAle69 from Whyalla, who could that be?
- Mar 1, 2014
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This has the smell of MY ATM about it.
Gupta is in trouble all over the globe. Administrators have been called in to probe his European holdings and it is only a matter of time before Whyalla goes the same way.
RussellEbertHandball
Flick pass expert
Gupta's Australian Infrabuild steel products division is doing pretty good. GFG is still profitably exporting iron ore from the Middleback Ranges mines.
But he is sucking money out of them to pay off debts in other countries, so he is holding off as long as he can on paying Oz creditors, especially the Whyalla steelworks division given the blast furnace hasn't operated properly for months..
Embattled steel and mining giant GFG Alliance has been pulling hundreds of millions of dollars from its Australian operations and sending money offshore to prop up its ailing international business.......
He did raise $150m of funds 3 weeks ago
www.abc.net.au
GFG Alliance has announced it has secured a $150 million loan to support its Whyalla steelworks and mining operations — and will use the money to help pay its suppliers and fund efforts to fix its blast furnace.
"Our new round of funding reaffirms my faith in Whyalla and our Back to Black plan, which aims to restore sustainable profitability and support the future of steel and mining operations in the region," he said.
Last month, GFG replaced Whyalla steelworks managing director Tony Swiericzuk with industry veteran Theuns Victor as it tries to stabilise operations at the plant.
In a letter to staff, Mr Victor said "The reality is we are losing approximately $1 million a day" as he outlined his vision to restart the blast furnace and ramp up production.
The coal-fired furnace was offline for about four months earlier this year after it cooled too much following planned maintenance.
It has then remained offline again since it was shutdown in August as the plant ran out of coking coal.
But he is sucking money out of them to pay off debts in other countries, so he is holding off as long as he can on paying Oz creditors, especially the Whyalla steelworks division given the blast furnace hasn't operated properly for months..
Embattled steel and mining giant GFG Alliance has been pulling hundreds of millions of dollars from its Australian operations and sending money offshore to prop up its ailing international business.......
He did raise $150m of funds 3 weeks ago
GFG Alliance secures $150 million loan to pay staff and fund repairs
The company says it will use some of the funds to fix the Whyalla steelwork's blast furnace which has been offline since August.
www.abc.net.au
GFG Alliance has announced it has secured a $150 million loan to support its Whyalla steelworks and mining operations — and will use the money to help pay its suppliers and fund efforts to fix its blast furnace.
"Our new round of funding reaffirms my faith in Whyalla and our Back to Black plan, which aims to restore sustainable profitability and support the future of steel and mining operations in the region," he said.
Last month, GFG replaced Whyalla steelworks managing director Tony Swiericzuk with industry veteran Theuns Victor as it tries to stabilise operations at the plant.
In a letter to staff, Mr Victor said "The reality is we are losing approximately $1 million a day" as he outlined his vision to restart the blast furnace and ramp up production.
The coal-fired furnace was offline for about four months earlier this year after it cooled too much following planned maintenance.
It has then remained offline again since it was shutdown in August as the plant ran out of coking coal.
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The whole league is a gambling byproduct
- Sep 29, 2012
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Take the money and run. Look who the most powerful country in the world just made president by popular vote.
Integrity is a myth. People laugh at you.
SparklingAle69
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- Sep 21, 2024
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Or is he???
SparklingAle69
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The Mines have been shutdown for months. Nothing is being railed from the Mines to the Steelworks.
Theres no fuel to run anything. The situation is dire because Gupta hasnt paid any contractors for a long time.
SparklingAle69
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- Sep 21, 2024
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Nobody here knows where that 150 mill has gone. Golding and Aurizon who mine and rail for GFG are stood down indefinitely because of no payments of contract.
SparklingAle69
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- Sep 21, 2024
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Bit different when it affects the whole future of South Australias third largest town, and Australias only rail manufacturing steel plant.
What do you need here? No one here controls the clubs sponsorship arrangements and no one has the power to force Gupta to be a benevolent business operator.
- Oct 28, 2007
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I get the impression his posts are more of a warning rather than a need.
SparklingAle69
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- Sep 21, 2024
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Simply curious as to if his sponsorship has been honoured. If not his logo shouldn't be on the guernsey. That is all.
Koch responded to a question re GFGs financial situation & said that GFG had stood by us when we needed it & Port would now stand by them.
The Terrible Thinker
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- Nov 7, 2024
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GFG is a dumpster fire. I work in the maintenance & service industry that services Liberty Primary Steel. Currently a lot of suppliers that feed LPS have placed stop credit on supply and services to them. Not sure how they are coping if they can get anything to maintain and operate their plant?
This is the sort of luxury you can afford once you have cleared almost all debt. What a great position we are now in. David Koch is a financial wizard
Make your community proudery for longery with (potentially free) advertisingerly for mining company with the worst reputation
