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These numbers from the NRL's latest financial report
Total Revenue: $528m
(not broken down, but the broadcast deal is the vast majority of this).
Club & State Distributions: $278m
Development: $40m
Operating Costs: $181m
Surplus $30m
Operating on a profit of ~5%
The costs seem far too high.
I'd love to know the breakdown of those operating costs. Let's say staffing is 10% - $18m just for the Chairman, Commissioners, Executives and HQ Staff. Who else do they pay - referees and who else. It's a very large number for how many people?
What other costs do they incur - Stadium Hire?, Travel/Accommodation?, Rent of their Moore Park abode (because they don't own anything). Tax? Sales/Marketing (including advertising)? Loans/Debts? What else?
From 2012-2016 they managed to put away $54m for a rainy day fund but this was eventually spent on other items so there was very little left in the kitty when Covid-19 arrived. Pretty clear that when the vast majority of your revenues disappear because there's no games it's going to get ugly very quickly.
Now the talk is that 50% of the operating costs and staff will go 'so the game can survive' 'and react to future unforeseen events'. Which begs the question - if you are 'forced' to cut expenditure of $90m annually to survive and save for a rainy day - what the hell were you spending the other $90m on?? Or it would seem not all the cuts are coming from the operating costs, but the club grants too - hence a possible cap reduction and why the players will get a haircut too.
I'm just baffled how there was no rainy day fund. There appears to be plenty of room to have created it. Granted this is an unprecedented phenomena - the last time the competition was cancelled I believe was WWII. If as suggested in 2012 $50m was put aside annually for this there would be $400m + interest today to be able to cope with this crisis. Instead it seems everyone cops more pain than they should and they're requesting the ANZ renovation be put on hold so they can have that money - when not so long ago they threatened to take the GF to Brisbane if Sydney didn't get its 'world class' stadiums.
If anyone can shed further light please do - because I can't see where the money has gone...
Total Revenue: $528m
(not broken down, but the broadcast deal is the vast majority of this).
Club & State Distributions: $278m
Development: $40m
Operating Costs: $181m
Surplus $30m
Operating on a profit of ~5%
The costs seem far too high.
I'd love to know the breakdown of those operating costs. Let's say staffing is 10% - $18m just for the Chairman, Commissioners, Executives and HQ Staff. Who else do they pay - referees and who else. It's a very large number for how many people?
What other costs do they incur - Stadium Hire?, Travel/Accommodation?, Rent of their Moore Park abode (because they don't own anything). Tax? Sales/Marketing (including advertising)? Loans/Debts? What else?
From 2012-2016 they managed to put away $54m for a rainy day fund but this was eventually spent on other items so there was very little left in the kitty when Covid-19 arrived. Pretty clear that when the vast majority of your revenues disappear because there's no games it's going to get ugly very quickly.
Now the talk is that 50% of the operating costs and staff will go 'so the game can survive' 'and react to future unforeseen events'. Which begs the question - if you are 'forced' to cut expenditure of $90m annually to survive and save for a rainy day - what the hell were you spending the other $90m on?? Or it would seem not all the cuts are coming from the operating costs, but the club grants too - hence a possible cap reduction and why the players will get a haircut too.
I'm just baffled how there was no rainy day fund. There appears to be plenty of room to have created it. Granted this is an unprecedented phenomena - the last time the competition was cancelled I believe was WWII. If as suggested in 2012 $50m was put aside annually for this there would be $400m + interest today to be able to cope with this crisis. Instead it seems everyone cops more pain than they should and they're requesting the ANZ renovation be put on hold so they can have that money - when not so long ago they threatened to take the GF to Brisbane if Sydney didn't get its 'world class' stadiums.
If anyone can shed further light please do - because I can't see where the money has gone...
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