Broncos under salary cap investigation
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- Start date
COMMANDER said:
I might even buy the Bronco ( Courier) Mail that day, just love to see how they might wash that under the table.
Otherwise wouldn't waste my money on any News Ltd crap
HappilyManly
Journey Man
I think the ASIC mob are more of a threat to the Broncs, than the NRL 😎
EagleFromMay1967
Sky Punching : send them High as the Clouds
should get the hell out of Planet Earth ! Europa is not far enough.EagleFromMay1967 said:
Now i hear they / he wants to take over Time Warner co. and nothing is gonna stand in his way. He's 666. His real name is Rupert Damien Thorn Murder. 😡
HappilyManly
Journey Man
Gold Coast Titans caught in $400,000 salary cap breach probe
PETER BADEL AND PHIL ROTHFIELD EXCLUSIVE
THE COURIER-MAIL
JULY 27, 2014
THE TITANS are embroiled in a fresh salary-cap investigation with the NRL probing a series of possible payment irregularities totalling an estimated $400,000.
The Sunday Mail can reveal integrity-unit auditors are examining Gold Coast’s books for the second time in four years after Titans boss Graham Annesley flagged concerns with NRL hierarchy.
Titans founder Michael Searle was general manager of football operations when the latest anomalies were detected by Annesley last November and passed onto NRL chiefs.
There is no suggestion Searle, or any Titans staffer, orchestrated a cap breach, but Annesley self-reported to the NRL after picking up the possible discrepancies.
Broncos CEO Paul White did likewise in May, meaning two of Queensland’s three NRL clubs are being concurrently investigated for potential cap breaches of almost $1 million.
The governing body released a statement last night, saying: “The NRL today confirmed it is investigating possible past salary cap irregularities at the Gold Coast Titans.”
The salary-cap probe comes at a critical time for the Titans, whose newly-created board revealed last week it would conduct an immediate internal review.
At the time of the irregularities, Searle and David May, who quit as CEO in June 2013, presided over the Titans’ salary-cap affairs.
Both have denied any wrongdoing.
“I’m happy to fully comply with the NRL investigation,” Searle said.
“That’s always been the case.”
May added on Saturday: “I have no concerns. I would certainly assist the NRL if required.”
A Sunday Mail investigation can also reveal:
* The NRL probe will span all aspects of Gold Coast’s operations, including the not-for-profit Titans 4 Tomorrow organisation, of which Searle is a director;
* A $417,392 loan last year from the Titans football club to Titans 4 Tomorrow, which focuses largely on Indigenous training programs. Searle says the loan has been repaid;
* Concerns over governance of Titans 4 Tomorrow, which received $2.32 million in government funding last year and paid $1.08m in staff wages;
* Titans chairman Darryl Kelly and Searle clashed over an undisclosed merchandise deal;
* An internal survey showed 87 per cent of Titans members who quit the club would only return if Searle was removed;
* Half of T4T’s $3.5m income in the last financial year was spent on staff wages, advertising and consultancy fees; and
* Key Titans employees are alarmed at some book-keeping methods that may have contributed to the possible financial irregularities.
The matter concerns the period 2012-13, well before the installation of the current Titans board.
There have been concerns over the spending activities of T4T but Searle insists the club’s community and charity arm is properly governed.
In 2010, the Titans were investigated by the NRL over claims then halfback Scott Prince was offered a free house, valued at $400,000, but the club was cleared of any wrongdoing.
The new board is determined to rebuild the Titans’ brand after years of tumult and Annesley said on Saturday he was pro-active in alerting the NRL to potential cap issues.
“After being appointed Titans CEO late last year a number of irregularities were uncovered which I immediately brought to the attention of the NRL,” he said.
“Since that time the current board and management of the Titans have offered the investigation totally unfettered access, transparency, and co-operation.
“As the NRL has not yet completed its enquiries it would not be appropriate for me to make any further comment at this time.”
The NRL’s General Manager of Integrity, Nick Weeks, said the matters under review relate to a period when a previous management team was running the Titans.
“The current management team brought the matters to the attention of the NRL as soon as they were discovered and has continued to fully co-operate with the review,” Mr Weeks said.
“The NRL will make no further comment until such time as the investigation is complete.”
The Titans overhauled their management practices in October 2012 after Searle, as former managing director, nearly sent the club broke, amassing a $25 million debt.
To save the club, the NRL transferred the Titans’ licence to Darrkell Pty Ltd, a company owned by Kelly, who has outlaid $3.87m to keep the Titans afloat.
As part of the rescue operation, two signatories were required for financial transactions during May’s tenure as CEO.
That eliminated the prospect of unregulated spending that had previously sent the Titans’ debt levels soaring.
For that reason alone, May insists there was no rorting of the salary cap on his watch.
“I am proud of what I did in my time at the Titans and I am happy for the NRL to look into anything they want,” he said.
“I haven’t had any calls from them since I left and I don’t expect any either.”
Despite advice from even close friends to walk away from the club, Searle remains fiercely committed to the Titans.
In May, he bought a further 7,250 shares, making him the Titans’ largest shareholder with a 40.6 per cent stake.
Board member Kelly owns a 34.4 per cent share, while Anshuman Magazine, who lives in India, holds the remaining 25 per cent stake.
The NRL is treating the Titans and Broncos probes seriously and any breach could lead to heavy fines or loss of competition points.
http://m.couriermail.com.au/sport/nrl/gold-coast-titans-caught-in-400000-salary-cap-breach-probe/story-fniabrr8-1227002541130
PETER BADEL AND PHIL ROTHFIELD EXCLUSIVE
THE COURIER-MAIL
JULY 27, 2014
THE TITANS are embroiled in a fresh salary-cap investigation with the NRL probing a series of possible payment irregularities totalling an estimated $400,000.
The Sunday Mail can reveal integrity-unit auditors are examining Gold Coast’s books for the second time in four years after Titans boss Graham Annesley flagged concerns with NRL hierarchy.
Titans founder Michael Searle was general manager of football operations when the latest anomalies were detected by Annesley last November and passed onto NRL chiefs.
There is no suggestion Searle, or any Titans staffer, orchestrated a cap breach, but Annesley self-reported to the NRL after picking up the possible discrepancies.
Broncos CEO Paul White did likewise in May, meaning two of Queensland’s three NRL clubs are being concurrently investigated for potential cap breaches of almost $1 million.
The governing body released a statement last night, saying: “The NRL today confirmed it is investigating possible past salary cap irregularities at the Gold Coast Titans.”
The salary-cap probe comes at a critical time for the Titans, whose newly-created board revealed last week it would conduct an immediate internal review.
At the time of the irregularities, Searle and David May, who quit as CEO in June 2013, presided over the Titans’ salary-cap affairs.
Both have denied any wrongdoing.
“I’m happy to fully comply with the NRL investigation,” Searle said.
“That’s always been the case.”
May added on Saturday: “I have no concerns. I would certainly assist the NRL if required.”
A Sunday Mail investigation can also reveal:
* The NRL probe will span all aspects of Gold Coast’s operations, including the not-for-profit Titans 4 Tomorrow organisation, of which Searle is a director;
* A $417,392 loan last year from the Titans football club to Titans 4 Tomorrow, which focuses largely on Indigenous training programs. Searle says the loan has been repaid;
* Concerns over governance of Titans 4 Tomorrow, which received $2.32 million in government funding last year and paid $1.08m in staff wages;
* Titans chairman Darryl Kelly and Searle clashed over an undisclosed merchandise deal;
* An internal survey showed 87 per cent of Titans members who quit the club would only return if Searle was removed;
* Half of T4T’s $3.5m income in the last financial year was spent on staff wages, advertising and consultancy fees; and
* Key Titans employees are alarmed at some book-keeping methods that may have contributed to the possible financial irregularities.
The matter concerns the period 2012-13, well before the installation of the current Titans board.
There have been concerns over the spending activities of T4T but Searle insists the club’s community and charity arm is properly governed.
In 2010, the Titans were investigated by the NRL over claims then halfback Scott Prince was offered a free house, valued at $400,000, but the club was cleared of any wrongdoing.
The new board is determined to rebuild the Titans’ brand after years of tumult and Annesley said on Saturday he was pro-active in alerting the NRL to potential cap issues.
“After being appointed Titans CEO late last year a number of irregularities were uncovered which I immediately brought to the attention of the NRL,” he said.
“Since that time the current board and management of the Titans have offered the investigation totally unfettered access, transparency, and co-operation.
“As the NRL has not yet completed its enquiries it would not be appropriate for me to make any further comment at this time.”
The NRL’s General Manager of Integrity, Nick Weeks, said the matters under review relate to a period when a previous management team was running the Titans.
“The current management team brought the matters to the attention of the NRL as soon as they were discovered and has continued to fully co-operate with the review,” Mr Weeks said.
“The NRL will make no further comment until such time as the investigation is complete.”
The Titans overhauled their management practices in October 2012 after Searle, as former managing director, nearly sent the club broke, amassing a $25 million debt.
To save the club, the NRL transferred the Titans’ licence to Darrkell Pty Ltd, a company owned by Kelly, who has outlaid $3.87m to keep the Titans afloat.
As part of the rescue operation, two signatories were required for financial transactions during May’s tenure as CEO.
That eliminated the prospect of unregulated spending that had previously sent the Titans’ debt levels soaring.
For that reason alone, May insists there was no rorting of the salary cap on his watch.
“I am proud of what I did in my time at the Titans and I am happy for the NRL to look into anything they want,” he said.
“I haven’t had any calls from them since I left and I don’t expect any either.”
Despite advice from even close friends to walk away from the club, Searle remains fiercely committed to the Titans.
In May, he bought a further 7,250 shares, making him the Titans’ largest shareholder with a 40.6 per cent stake.
Board member Kelly owns a 34.4 per cent share, while Anshuman Magazine, who lives in India, holds the remaining 25 per cent stake.
The NRL is treating the Titans and Broncos probes seriously and any breach could lead to heavy fines or loss of competition points.
http://m.couriermail.com.au/sport/nrl/gold-coast-titans-caught-in-400000-salary-cap-breach-probe/story-fniabrr8-1227002541130
manlyfan76
There is no A.I. Just better computers
Corruption: that's in QLD.
Nrl seem quiet on the issue as usuall;
http://m.nrl.com/statement-regarding-titans-salary-cap/tabid/10874/newsid/80560/default.aspx
Statement regarding Titans salary cap
Sun, Jul 27, 2014 - 08:42AM
The NRL today confirmed it is investigating possible past salary cap irregularities at the Gold Coast Titans.
The NRL’s General Manager of Integrity, Nick Weeks said the matters being reviewed relate to a period when a previous management team was running the club.
“The current management team brought the matters to the attention of the NRL as soon as they were discovered and has continued to fully co-operate with the review,” Mr Weeks said.
The NRL will make no further comment until such time as the investigation is complete.
Nrl seem quiet on the issue as usuall;
http://m.nrl.com/statement-regarding-titans-salary-cap/tabid/10874/newsid/80560/default.aspx
Statement regarding Titans salary cap
Sun, Jul 27, 2014 - 08:42AM
The NRL today confirmed it is investigating possible past salary cap irregularities at the Gold Coast Titans.
The NRL’s General Manager of Integrity, Nick Weeks said the matters being reviewed relate to a period when a previous management team was running the club.
“The current management team brought the matters to the attention of the NRL as soon as they were discovered and has continued to fully co-operate with the review,” Mr Weeks said.
The NRL will make no further comment until such time as the investigation is complete.
HappilyManly
Journey Man
So both the Broncos and Titans self reported => NRL Salary Cap Auditor has NFI :dodgy:
manlyfan76
There is no A.I. Just better computers
Reports that Milford was interviewed on tues by the cap auditors about his broncos contract.
And Boyd to sign with Broncos for 2015- giving them 4 full backs... Will be interesting when they play the bulldogs team of forwards.
And Boyd to sign with Broncos for 2015- giving them 4 full backs... Will be interesting when they play the bulldogs team of forwards.
HappilyManly
Journey Man
Bennett is already working to flick Barba.
Apparently the Barba contract is also being investigated by the Salary Cap mob 😎
Whats transpired so far is, get a man to do the underhand deals, fire him/Gee 'resigned', then the NRL has no authority to question him - WTF :huh:
Apparently the Barba contract is also being investigated by the Salary Cap mob 😎
Whats transpired so far is, get a man to do the underhand deals, fire him/Gee 'resigned', then the NRL has no authority to question him - WTF :huh:
manlyfan76
There is no A.I. Just better computers
the daily telegraph are saying 6 existing Broncos interviewed including Kennedy and Barbie.
#crisis anyone?
#crisis anyone?
RiverEagle
Bencher
So Bennett's going from one mess (Tinkler's Hunter Sports Group) to another up there...
No pressure.
No pressure.
HappilyManly
Journey Man
Money talks, Benny would Coach the Raiders if they got him a bank guarantee 😎
All good for Manly
All good for Manly
Lets face it, Brisbane have been rorting the system for years.
The "Thoroughbreds" are a bunch of mega millionaires and some billionaires, money is no object to them.
Lockyer registered as $250K a year....yeah right, that and about another $750K in paper bags/ under the counter/ 3rd party endorsements.
Its common knowledge up here that they are very frustrated they cant just buy the comp, especially as they did it so easily in the 90's
The Courier (Bronco) Mail is sickening, I cancelled it years ago.
Despite all that I do like living here, the weather is nice, its just anything to do with football is crap!!
The "Thoroughbreds" are a bunch of mega millionaires and some billionaires, money is no object to them.
Lockyer registered as $250K a year....yeah right, that and about another $750K in paper bags/ under the counter/ 3rd party endorsements.
Its common knowledge up here that they are very frustrated they cant just buy the comp, especially as they did it so easily in the 90's
The Courier (Bronco) Mail is sickening, I cancelled it years ago.
Despite all that I do like living here, the weather is nice, its just anything to do with football is crap!!
Mark from Brisbane said:
Don't you love the nightly donkeys report? - and today at training broncos players passed the ball and tackled claiming that if they score more points than the opposition on Friday, they'll win.
In other football news, Sam Thaiday had a shave and Corey Parker's wife bought a new garden gnome from bunnings.🙄
Central Coast Eagle
Reserve Grader
niccipops said:
At least that's not the Manly in crisis BS we get every night!
niccipops said:
Its sickening, I'm usually into my 2nd beer about then, so I just get up, ignore the sports report and come back just in time for the weather.
Chan Nein is worst so never watch them, Seven's focus is AFL (almost as bad), for news I prefer the ABC at 7pm but even they get on the Donkeys bandwagon!!
Its though there are no other football sides on the planet
By the way @niccipops you coming to the post match function after the Titans game???.....or are you still out west somewhere??
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