NRL ( Financial Woes)

[Mark from Brisbane]

I was in business for 38 years and was lucky enough to employ a very savvy accountant very early in my career.

He gave me two very good pieces of advice quite early in the piece.

1) start investing in superannuation ( almost unheard of in the 70’s at the time) you’ll be thankful you did when you retire.

2) start putting away 10% of your business profits each year and do not touch them unless you have a disaster.

In 1989 that disaster arrived , the 9 month long pilot strike ( in those days 80% of our income was domestic travel ).

Due to that war chest I survived , my staff remained employed and my business was able to prosper once again.

Fast forward to 2020.

What the **** have the NRL been doing for 20 years that brings them to the point that if we don’t play games for two months, the game AND our clubs fall over!!

It’s not just Greenturd ( although he’d a part of it ) it’s everyone from day 1!!!

If we survive this things must and have to change!!

 

[Harmless27]

Mark, its a great question. honestly - i know i seem like a doom monger at the moment.... but I have always held a fear about the games finances. I thought the no fault stand down type scenario would see them go bankrupt - but this is bigger

The game is being financially mis managed, and the GALL of them to think the government would bail them out is disgusting.

People, health and fmailies deserve support first and foremost. Not a bunch of incompetent muppets who have mismanaged a recreational sport/business for donkeys years.

In some respects, you hope the league goes under - so that someone else can take over and issue licences and get this game back on track.

but first things first - lets all survive the next few months!

 

[Rodo]

Exactly right @Mark from Brisbane . How can games like the NBA and NHL just take a hiatus and not need to continue playing? These organisations have enough money in reserves to stay afloat but the NRL has very little reserves and need to continue to play or get a government handout to survive. Just shows you how poorly run and managed the NRL has been.

 

[Supreme Leader]

Bet you the NRL management team will still get their performance bonus this year?

 

[globaleagle]

To much bling for mrs sCam

Though I dare say that if over the years there was a big old reserve of money... everyone would be crying out for all of it to be spent on 'grassroots' footy.

 

[jbb/james]

Its dead set corruption. The NRL and the clubs will do whatever you need them to do as long as they are just finacially viable. If clubs, or indeed the NRL got cashed up as i mentioned in Dave smith thread they could be the masters of there own destiny and there would be some big losers in broadcasting

Smith pushed for it and the media got in his face forever, he also pushed greenberg from the rights negotiations at the time . At the time he said the game was going to put 100 million away from the rights, 3 years later they borrow money to pay players.

its just how society works and why we will suffer hard from the virus, as political interference has put so many people on the poverty line and a rich mans hic up is a poor mans death sentence

A chain / weakest link analgy. Western democracy is never looking and building the wweakest link. Again corruption

 

[The Who]

It's laughable that the NRL thinks taxpayers should get them out of this financial mess.
Imagine the precedent that would set?
I feel sorry for the businesspeople who rely on goods from China, and those in the travel industry (except the insurance companies who sell travel insurance that doesn't cover situations like we are now in).

 

[Stuey D]

One answer..... Super League. News spent vasts sums of money fighting the SL war & they weren't leaving until they were renumerated what they believed was their cost of the war.

This didn't happen until the NRL commission was introduced and News no longer had "last rights" for the TV deals. Now that they have finally started to build their war-chest , it's going to be blown and they will need to start from scratch. Again!

It sucks but stark reality unfortunately.

 

[tookey]

The NRL has set up a steering committee of 20 consultants to decide how to put away money for the future

 

[jbb/james]

I was in business for 38 years and was lucky enough to employ a very savvy accountant very early in my career.

He gave me two very good pieces of advice quite early in the piece.

1) start investing in superannuation ( almost unheard of in the 70’s at the time) you’ll be thankful you did when you retire.

2) start putting away 10% of your business profits each year and do not touch them unless you have a disaster.

In 1989 that disaster arrived , the 9 month long pilot strike ( in those days 80% of our income was domestic travel ).

Due to that war chest I survived , my staff remained employed and my business was able to prosper once again.

Fast forward to 2020.

What the **** have the NRL been doing for 20 years that brings them to the point that if we don’t play games for two months, the game AND our clubs fall over!!

It’s not just Greenturd ( although he’d a part of it ) it’s everyone from day 1!!!

If we survive this things must and have to change!!

I was in business for 38 years and was lucky enough to employ a very savvy accountant very early in my career.

He gave me two very good pieces of advice quite early in the piece.

1) start investing in superannuation ( almost unheard of in the 70’s at the time) you’ll be thankful you did when you retire.

2) start putting away 10% of your business profits each year and do not touch them unless you have a disaster.

In 1989 that disaster arrived , the 9 month long pilot strike ( in those days 80% of our income was domestic travel ).

Due to that war chest I survived , my staff remained employed and my business was able to prosper once again.

Fast forward to 2020.

What the **** have the NRL been doing for 20 years that brings them to the point that if we don’t play games for two months, the game AND our clubs fall over!!

It’s not just Greenturd ( although he’d a part of it ) it’s everyone from day 1!!!

If we survive this things must and have to change!!

Sounds like a book i read once
The richest man in babylon

 

[Woodsie]

To be fair to V'landy .... I think his point is that without the games ... many many people and businesses are affected .... from concession workers. line markers, security staff, ground staff, parking people, bus drivers, physio's, leg rubbers, broadcast crews, cameramen, gear stewards, scoreboard attentants , referees , bunker people, TV studio staff etc etc ... ..

His point is the game provides an income and living to many people ... not just the NRL ...

.. and hotels, hotel staff, airlines, laundries, school girls, etc etc ..

 

[globaleagle]

The NRL has set up a steering committee of 20 consultants to decide how to put away money for the future

I bet one of them would be Shane Richardson

 

[globaleagle]

Sounds like a book i read once
The richest man in babylon

I remember vividly trying to get a friend of mine to read that book. When I showed him it in a book store, his wife immediately turned it over, saw the price tag of $13 and said "Wow, why so expensive???" - Put it back and walked off.

 

[HK_Eagle]

I remember vividly trying to get a friend of mine to read that book. When I showed him it in a book store, his wife immediately turned it over, saw the price tag of $13 and said "Wow, why so expensive???" - Put it back and walked off.

Perhaps your friend could opt for the more affordable version, "Richest Man in Avalon"? 😉

 

[Highflier]

Well Greenburg how does the 15k-20k ring and all the other largess you wasted on grub Smith look now?
How about all the 1st class travel ,limo's and "study" tours for you and all the other gravy trainers you have surrounded yourself with ,stack up under current events ? .What about the ballooning bureaucracy and accompanying payroll at the NRL ?
Never have I seen someone look so irrelevant yet so culpable as you did on Sunday .

Just an incompetent disgrace ,hang your head in shame you have bled the game for all you could get and for all your pets and pet projects ,yet left nothing in the tin for when the music stops .

On the weekend I thought that this crisis might be your unworthy savior .But the more I think about it the more i think it should be the catalyst that releases the sword of Damocles that finally puts a full stop to your disgraceful tenure

There is nothing in the bank you have blown the lot on shiny beads and baubles that have bedazzled you and your myopic view of the world , while simultaneously running the game into the ground .The irony for me was that you trumpeted your No fault stand down rule as the reason for the 30 M surplus out of the 2 Billion or so broadcast package.You impostor !!! ,how did you possibly think anyone would swallow that,and I am guessing that's one of the many reasons why Vlandys has your scrawny neck on the chopping block ,he knows and can see thru you .He is looking you in your beady black eyes this time and he can see the lights on, just , but there is an abyss where there should be some original thought and some fiduciary responsibility .

Anyway lets hope RL survives this , and if it does it will truly be in spite of you Greenburg not because of you .

Sack Greenburg now

 

[mickqld]

Looking like we might head back to the days of part time footballers with fulltime jobs if the NRL indeed plunges into the incompetent abyss of Greenturd and associates doing.

 

[47MVEagle]

Todd's preseason superbowl junket, among other things.

 

[The Who]

I wonder if the NSW Government is so keen now on wasting $750-M rebuilding Alliance Stadium and putting a roof on the white elephant ANZ Stadium?

 

[Mark from Brisbane]

Sounds like a book i read once
The richest man in babylon

I didn’t end up being rich but am certainly comfortable, the major point was putting money away for a rainy day.

We had a few rainy days , 1989 ( pilot strike ) 2001 ( twin towers ) , 2003 ( SARS) and to a lesser extent 2008 ( GFC) all difficult times in the travel business.

At the end I had about $75k in the “ rainy day” account but never once had to get a loan to cover shortfalls.

 

[jbb/james]

I didn’t end up being rich but am certainly comfortable, the major point was putting money away for a rainy day.

We had a few rainy days , 1989 ( pilot strike ) 2001 ( twin towers ) , 2003 ( SARS) and to a lesser extent 2008 ( GFC) all difficult times in the travel business.

At the end I had about $75k in the “ rainy day” account but never once had to get a loan to cover shortfalls.

There are many rainy days ahead for many people.