I realise that WP but I specifically mentioned Cronulla as their annual Leagues Club grant to the football club had been reduced from now on to just $250k by orders from the bank. The Leagues Club wrote off almost $4m to keep the football club afloat and although they are asset rich due to the property (stadium) they own their current liabilities out strip their current assets by $12m. The football club is bleeding money and they are hanging out for the new NRL tv rights to halt the bleeding. They are the North Melbourne of the NRL.
Fair call MT - I should have excluded Cronulla
Once they were a strong club on and off the field now they are hopeless on both.
I also know a number of NRL clubs have been trying to be run seperately to their leagues clubs to see how much financial bleeding there actually is - seriously I don't hink some of them know
. Parramatta Leagues pours in about $6-7mil a year into their NRL club to fund it but the leagues club has been hit hard by changes in State Govt taxes they have to pay (sounds a bit like down here
)
But certainly the NRL clubs with storng Leagues clubs are the financially strongest NRL clubs