Manly is the latest club to be given an advance on their monthly NRL grant. Last month we revealed the Sea Eagles were bracing themselves for a $1.5 million loss this season, and now it appears there are cash flow issues to contend with. The NRL recently agreed to forward Manly around $600,000 – a gesture that’s been made several times in the past to clubs that are struggling for liquidity.
Manly's cash flow woes come down to the team’s unexpectedly poor performance this year, which have left sponsorship and membership projections in tatters. There’s also been a huge turn-over of front office staff since the change of ownership late last year, with around a dozen employees replaced. Some have been marched ahead of their time, resulting in payouts that have inflicted further damage on the budget. And just this week two more staff – recruitment duo Dave Worwick and Simon Healey – were told their services aren’t required next year.
There’s now speculation over the future of CEO Joe Kelly, who arrived last November with an impressive reputation from previous roles in finance with Chelsea FC and South Sydney. Sea Eagles insiders say Kelly has been taken aback by the magnitude of the task at Brookvale, which is riddled with politics and power plays. We’ve been told he’s applied to have next week off – a curious move at such a crucial stage of the season, with the club running last and chairman Scott Penn out of town.We put several questions to Kelly this week, including whether or not the leave was stress-related. He did not respond. One thing we can assure Manly fans is this: reports Grant Mayer is set to be appointed Kelly’s replacement are wide of the mark.
https://au.sports.yahoo.com/league/...with-josh-massoud-and-jim-wilson/?cmp=twitter
Good think Warwick has been sacked clearing out the dead wood only hope Penn has the money to see it through. If I was Barrett I would say thanks but no thanks if you are having to borrow money from the nrl how secure are you? I hope DCE has a rock solid contract. lol at Joe on stress leave bit tougher than Chelsea Joe.
Manly's cash flow woes come down to the team’s unexpectedly poor performance this year, which have left sponsorship and membership projections in tatters. There’s also been a huge turn-over of front office staff since the change of ownership late last year, with around a dozen employees replaced. Some have been marched ahead of their time, resulting in payouts that have inflicted further damage on the budget. And just this week two more staff – recruitment duo Dave Worwick and Simon Healey – were told their services aren’t required next year.
There’s now speculation over the future of CEO Joe Kelly, who arrived last November with an impressive reputation from previous roles in finance with Chelsea FC and South Sydney. Sea Eagles insiders say Kelly has been taken aback by the magnitude of the task at Brookvale, which is riddled with politics and power plays. We’ve been told he’s applied to have next week off – a curious move at such a crucial stage of the season, with the club running last and chairman Scott Penn out of town.We put several questions to Kelly this week, including whether or not the leave was stress-related. He did not respond. One thing we can assure Manly fans is this: reports Grant Mayer is set to be appointed Kelly’s replacement are wide of the mark.
https://au.sports.yahoo.com/league/...with-josh-massoud-and-jim-wilson/?cmp=twitter
Good think Warwick has been sacked clearing out the dead wood only hope Penn has the money to see it through. If I was Barrett I would say thanks but no thanks if you are having to borrow money from the nrl how secure are you? I hope DCE has a rock solid contract. lol at Joe on stress leave bit tougher than Chelsea Joe.
