St. George Illawarra Dragons - History

History

See also: St. George Dragons and Illawarra Steelers

In the wake of the Super League war of the mid-1990s, and the resulting split competition of 1997, the Illawarra Steelers found themselves struggling financially and seemed unlikely to survive past 1999. The St. George Dragons largely financed a proposal for a merger which would see the St George Illawarra Dragons playing in both Kogarah and Wollongong. Essentially, St George would provide the money while Illawarra would provide a broader junior and fan base. With the NRL's intention to rationalise the competition from 20 teams down to 14 teams and with a $4M incentive and a relaxing of salary cap requirements for a merger, the Dragons and the Steelers ensured their survival by forming the League's first merger on 23 September 1998.

In early 2006, WIN Television Network bought a 25% share in the St. George Illawarra club for $6.5 million (half of Illawarra's share), erasing most of the debt Illawarra had to St. George. This formalised the strong support the network has shown for the Steelers in years gone by and ensured that Wollongong will continue to host world class rugby league matches. WIN Corp can only sell their stake back to the Steelers, should they wish to withdraw their involvement, thus ensuring Illawarra are properly represented in the merger.

Read more about this topic:  St. George Illawarra Dragons

Famous quotes containing the word history:

    “The History of the world is not the theatre of happiness. Periods of happiness are blank pages in it, for they are periods of harmony—periods when the antithesis is in abeyance.”
    —Georg Wilhelm Friedrich Hegel (1770–1831)

    “The history of this country was made largely by people who wanted to be left alone. Those who could not thrive when left to themselves never felt at ease in America.”
    —Eric Hoffer (1902–1983)

    “The only history is a mere question of one’s struggle inside oneself. But that is the joy of it. One need neither discover Americas nor conquer nations, and yet one has as great a work as Columbus or Alexander, to do.”
    —D.H. (David Herbert)