Australia's National Rugby League to Maintain Club Funding
The National Rugby League Partnership Executive Committee has agreed to maintain existing funding levels of $2.5 million per club in the 2002 competition.
The funding will be widened to 15 clubs, conditional on the expected entry of South Sydney in 2002. Meetings between South Sydney and NRL management will take place tomorrow.
Given the financial position of the NRL and the clubs, the partnership confirmed the view of the NRL Board and the CEO’s that game cannot sustain further teams beyond the inclusion of South Sydney.
Today’s Partnership Meeting also examined an application by the Northern Eagles for funding assistance.
The Partnership found itself unable to grant such assistance and warned both joint venture partners of the importance of pursuing every possible means to ensure that the Northern Eagles continues as a viable club in the NRL.
'The NRL Partners have invested more than $11 million in establishing and maintaining the joint venture,' NRL Chief Executive, Mr David Moffett said today.
'I have been asked to formally write to the club and advise the Northern Eagles joint venture partners of their obligations in respect of this investment.
'The NRL will reserve all rights having regard to the way the partners and directors within the joint venture conduct the business.
'It urges all sides to work together to find a solution to the current issues.'
For further information please contact:
John Brady
Director of Media and Communications
tel: +61 2 9339 8500
fax: +61 2 9339 8501
email: johnb@nrl.com.au
The funding will be widened to 15 clubs, conditional on the expected entry of South Sydney in 2002. Meetings between South Sydney and NRL management will take place tomorrow.
Given the financial position of the NRL and the clubs, the partnership confirmed the view of the NRL Board and the CEO’s that game cannot sustain further teams beyond the inclusion of South Sydney.
Today’s Partnership Meeting also examined an application by the Northern Eagles for funding assistance.
The Partnership found itself unable to grant such assistance and warned both joint venture partners of the importance of pursuing every possible means to ensure that the Northern Eagles continues as a viable club in the NRL.
'The NRL Partners have invested more than $11 million in establishing and maintaining the joint venture,' NRL Chief Executive, Mr David Moffett said today.
'I have been asked to formally write to the club and advise the Northern Eagles joint venture partners of their obligations in respect of this investment.
'The NRL will reserve all rights having regard to the way the partners and directors within the joint venture conduct the business.
'It urges all sides to work together to find a solution to the current issues.'
For further information please contact:
John Brady
Director of Media and Communications
tel: +61 2 9339 8500
fax: +61 2 9339 8501
email: johnb@nrl.com.au