Debenture System Scrutiny Hits Wests Tigers

0:00It's April 1st. I'm Corey with The Story, and this is Sydney News Today. Local news powered by AI. The Home and Barnes Group, which owns 90% of the West Tigers and runs their leagues club, is under fresh scrutiny from regulators over a 50-year-old debenture system. This setup lets just 20 people pick five out of seven board spots, giving them tight control over a $100 million operation, tie two. The NRL team. After this year, after getting cleared in a first pro blast July, liquor and gaming New South Wales kicked off a new investigation. It's zeroing in on whether the system breaks the Registered Clebs Act from 1976, though the group insists they've cooperated fully and were told no action was needed before. The drama hit hard with board shakeups, including ousting the chair and longtime CEO, plus banning four directors for a total of 23 years. They even ax the Tigers' chairman and independence only to bring some back after NRL pressure,

1:00while boosting their own board power. Meanwhile, Chief Executive Shane Richardson walked with a seven-figure payout after turning a profit for the first time in a decade. A lawsuit from a former director got settled too, amid all this internal chaos at the poker machine giant. As the pro rolls on, the Tigers are firing on the field under coach Benji Marshall, whose contract runs to 2030. They just beat the Warriors to climb to third, setting up a big Easter Monday clash with