Spot on.
Penn says he puts a million dollars INTO the club per year. What he doesn't mention, is that as the owner, how much does he actually get OUT of the club.
Pool the gate takings at Brooky (and the extra dollars for magic round & other games taken away for $$$), merchandise sales, sponsorship dollars, grants, 9+ million from the NRL grant (for the players).
Take the 25 odd million (less capital gains) away from the leagues club profit he made out.
He'd still be making money. I have no idea why, but Brooky crowds are STRONG again despite being served ****e sandwiches. Ken Arthurson recently said after the Sharks game, "if I wasn't already depressed enough".
Hate that Penn cries poor. We may not be his best investment or asset, but he has surely picked the eyes out of us.