The Salary Cap fiasco

[ManlyBacker]

With all the talk recently about the capabilities and biases of Roy Masters; he has come up with a good article on the problems confronting the Warriors, the lack of effort in getting the Warrior shop in order since the new admin took over the club last November, and the crazy way that training and employment with a RL club are exempt from the cap.

See http://www.smh.com.au/news/league/the-case-of-the-missing-salary-cap-manual/2006/02/28/1141095740712.html

The most interesting statements are at the end of the article:
"Yet player managers remain insistent over what they call anomalies in the salary cap rules, despite many of them never having read the NRL manual.

"Is my job to be a constable in Schubert's investigation squad, or do the best deal I can for my client?" one asked, exposing why a salary cap investigation has produced a credibility gap for the code."

Yes, the mighty Banagan is in the thick of it again. I guess saying that you don't need to know the rules when undertaking contract negotiations for your steeds is a bit like the financial planners saying they didn't need to know the investment qualifications of Westpoint for their clients. :roll:

 

[Matabele]

Jim Banaghan probably put the Monaghan brothers onto that fine Canberra Investment broker - Eric Hawley of Pattersons.

Do a google search on that one.

 

[Jatz Crackers]

"is a bit like the financial planners saying they didn't need to know the investment qualifications of Westpoint for their clients"

These days at least financial planners are required to possess a licence and display that license in any & all promotion of their business. This Banahan character (was he the fool with big mouth during MM contract negotiations?) sounds like a real unprofessional to me or maybe its simply a case of verbal diarrhoea

 

[Fluffy]

benji marshalls manager has piped up saying he doesnt like what schubert is doing - reason is schubert is investigating marshell add with larkam.

 

[Guest]

If the NRL is serious about the salary cap then it needs to penalise the club boards, CEO's, players and player managers and anybody else who knew about any breaches of the cap. This is as well as having a standard system of points loss. Maybe even loss of points over 2 seasons and not just one.

Cancellation of contacts for players and loss of accreditation with the NRL for player managers are what is required to keep the system above board otherwise it will eventually fail.

If the penalties are substantial then the system wiill ensure that no breaches are made.

But Gallop and his fellow ex-News corp buddies won't set up such a system because they are wimps.

 

[Matabele]

I wonder how rigorously News Ltd is investigated with reference to its dealings with players at clubs that it owns???????????

 

[ManlyBacker]

Company Directors are now regularly sent to prison. The law has been beefed up over the last few years and Directors are personally legally liable. With what we know, how many can say they do this (from ASIC):
- be honest and careful in your dealings at all times
- know what your company is doing
- take extra care if your company is operating a business because you may be handling other people's money
- make sure that your company can pay its debts on time
- see that your company keeps proper financial records
- act in the company's best interests ... and use any information you get through your position properly and in the best interests of the company. Using that information to gain, directly or indirectly, an advantage for yourself or for any other person, or to harm the company may be a crime or may expose you to other claims. This information need not be confidential; if you use it the wrong way and dishonestly, it may still be a crime.

 

[Fluffy]

I wonder how rigorously News Ltd is investigated with reference to its dealings with players at clubs that it owns???????????

Well Melbourne have gone over the cap by the third highest amount - close to 700K and they havnt lost a single point, not suprisingly.

Read into it what you will