MELBOURNE has been working on a merger proposal with the Bentleigh Club for several months.
Recently, Melbourne and the Bentleigh Club Board reached an agreement to merge the two clubs, pending a vote of members of the Bentleigh Club on to be held on Monday 23 May.
The Bentleigh Club Consultative Committee (formed by the members of the Bentleigh Club to represent them in relation to the merger proposal) has also formally endorsed the Melbourne proposal.
The Melbourne Board believes this merger is an important step in securing the financial viability of the Bentleigh Club, as well as providing Melbourne with an additional revenue stream and strengthening our Balance Sheet.
If successful, the proposal will see the operations of the Bentleigh Club integrated with Melbourne - this will be mutually beneficial for both clubs, who have a long standing relationship.
The benefits to both clubs include:
The Bentleigh Club Consultative Committee (formed by the members of the Bentleigh Club to represent them in relation to the merger proposal) has also formally endorsed the Melbourne proposal.
The Melbourne Board believes this merger is an important step in securing the financial viability of the Bentleigh Club, as well as providing Melbourne with an additional revenue stream and strengthening our Balance Sheet.
If successful, the proposal will see the operations of the Bentleigh Club integrated with Melbourne - this will be mutually beneficial for both clubs, who have a long standing relationship.
The benefits to both clubs include:
* Secure future for the Bentleigh Club, ensuring the members can continue to access the broad range of facilties they currently enjoy;
* Profitable venue in the medium to long term, and we believe the venue can be break even in the short term;
* A commitment to venue upgrades out of profits; and
* Improved asset position for MFC, with the additional assets of approximately $9m and 88 gaming machine entitlements outweighing the debt of $1.8m and gaming machine repayments of $1.2m
“Without the Melbourne Football Club proposal, the (Bentleigh Club) Board considers the likelihood of the Bentleigh Club’s continuation to be very uncertain,” Bentleigh Club Chairman Bill Balcam said.
“Melbourne and the Bentleigh Club have a long standing relationship, stretching back over a decade. The proposed merger brings positive outcomes for both clubs, and we are seeking the support of our members throughout this process,” Melbourne President Jim Stynes said.
Melbourne members who are also members of the Bentleigh Club will receive further correspondence regarding the vote in the coming days. Members with questions regarding the merger proposal are encouraged to contact the Club on (03) 9652 1111 for further information.
“Without the Melbourne Football Club proposal, the (Bentleigh Club) Board considers the likelihood of the Bentleigh Club’s continuation to be very uncertain,” Bentleigh Club Chairman Bill Balcam said.
“Melbourne and the Bentleigh Club have a long standing relationship, stretching back over a decade. The proposed merger brings positive outcomes for both clubs, and we are seeking the support of our members throughout this process,” Melbourne President Jim Stynes said.
Melbourne members who are also members of the Bentleigh Club will receive further correspondence regarding the vote in the coming days. Members with questions regarding the merger proposal are encouraged to contact the Club on (03) 9652 1111 for further information.
