Wheels fall off for Pulse as car fleet sold

The Central Pulse have been flogging off sponsor cars in a desperate bid to avoid going bankrupt, after borrowing $100,000 off Netball New Zealand back in May, the Sunday Star-Times can reveal.

The sell-off, confirmed by Pulse chairman Nigel Kirkpatrick yesterday, is the most graphic illustration yet of how deep in the mire the ailing franchise are. The Star-Times understands the Pulse were given 10 cars by Suzuki last year, but has flogged off half of them to keep afloat. The first to go was that of former chief executive Kristine Mayo.

Kirkpatrick: "I don't think anyone has cottoned on to the fact the Pulse's financial problems have been right from the start.

"This is not today's problem, this is last year's problem if you know whatI mean. We have been under financial pressure right from the start.

"I wasn't involved at that stage, but it's obvious now."

The loan, the car sales and the revolving-door nature of the Pulse board indicate that the current crisis has been brewing for a long time.

The midweek resignation of Ann Hay from Central Netball Regions Ltd, which operates the Pulse, made her the sixth board member to quit since the organisation was formed in April, 2007.

According to Companies Office records, directors Barry Hollow, Graeme Edwards, Craig Neil, Phil Thomason and former chair John Freer have also all quit.

The Pulse have yet to update their details to include Kirkpatrick's appointment to the board, let alone his taking of the chairmanship.

Netball New Zealand chief executive Raelene Castle hinted that her organisation would bail out the Pulse financially to ensure New Zealand had five competitive teams in the ANZ Championship, which starts on April 4.

"It's a very tough time in this economic climate and all the Pulse are doing is making sensible financial decisions," she said.

The search for a major sponsor was continuing and the news of the Pulse's plight had resulted in several potential backers contacting Netball NZ.

"This publicity has resulted in a number of phone calls from people who have shown some early interest," Castle said. "It's a little way off. It's not through lack of trying they've been out there trying to seek one [major sponsor] and trying to move forward."

The Pulse made head coach Kate Carpenter redundant 11 days ago and she is taking legal proceedings to the Employment Relations Authority this week. Carpenter was one year into a three-year contract.

Carpenter's lawyer, Megan Richards, said that attempts last week to resolve the matter had been fruitless.

"Kate has met with the Pulse to see if we could resolve the matter. We haven't been able to by direct discussions so she is now going to have to proceed with taking legal action. I don't know what the time frame is but we'll be seeking urgency for it."

Castle said Netball NZ backed the decision to make Carpenter redundant.

"In harsh financial times all businesses have to make harsh financial decisions. Unfortunately redundancy is one of those things.

"Kate is not the only person who will be affected by this decision. There has already been some other decisions made along those lines."

She said an offer on the table for a new Pulse chief executive had been withdrawn recently due to the financial meltdown.

Castle denied a batch of New Zealand under-21 players would be brought in to play for the Pulse and that they would be coached by national under-21 mentor Yvette McCausland-Durie, of Palmerston North.

"The team that takes the court for the Pulse will be the most competitive team that they can put on the court. It won't be a New Zealand under-21 team. That is not one of the options up for discussions."

She said players under consideration to join the seven already signed by the Pulse were mainly central-region based.

"A large number of players who have been discussed are central region people.

"They have some very strong talent in the region and that's why it's very important that they continue in the ANZ Championship."

Castle defended the Pulse, saying there "wouldn't be a professional league in the world that didn't have a team that was facing these exact challenges. "Unfortunately that's harsh reality of pro sport."

* Additional reporting by Greg Ford