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February 24, 2017

NRL clubs did combine to lose a lot of money

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An apparent super “secret” document will reveal that NRL clubs lost a bunch of money.

The document was secret enough that News Corp published a week out from the start of the 2017 season that NRL clubs combined to lose $53.4 million in 2016.

But this document may differ from what they reported in November last year.

To go through the spilled red ink again, the paper says that Parramatta Eels lost $12 million instead of the $11 million reported last year.

Brisbane Broncos and North Queensland Cowboys made profits whilst operating in their own single team markets. The Broncos reported to the ASX this week that they made a net profit of $2.8 million from $42 million in revenue.

Cronulla lost $600,000, despite getting their commercial house in order and winning last year’s premiership.

The Penrith Panthers lost $7 million, due to stadium and academy costs. Reportedly the figure is anywhere between $6-8 million.

South Sydney Rabbitohs turned a $1.5 million profit in 2015 from the previous year into a $2.9 million loss, despite having the highest membership in the NRL.

Overall club losses have increased heavily over the past three years from $30 million in 2014 to last year’s $53.4 million.

The costs for the NRL to keep the Gold Coast Titans and Newcastle Knights afloat comes to $6 million each.

Source: The Daily Telegraph


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