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Re: Why an NRLOL salary cap of $9.5 million could see players lose out
Posted: Fri Aug 18, 2017 5:15 pm
by leagueiscrap
Terry wrote: Thu Aug 17, 2017 11:44 am
For the record: the loan knock back story has only been reported on by one media outlet - Massoud on Ch 7. His 'information' came from un-named sources. No banks were named.
Wookies links come from Massoud x2. He has one from a 2011 story that has nothing to do with this. He has one more from Rothfield in June this year - again nothing to do with a loan knock back but stating the NRL may need a loan.
Until I get more concrete evidence I am calling this story a beat up. In all probability if the NRL is seeking a loan they would speak to a number of institutions to get the best deal. Simple as that.
the NRLOL hasn't come out and denied this, or made any threats about sueing & its been from different sources tourettes terry lolololooon!
the NRLOL's credit line is that of a christopher skase!
its funny how hypriticial you oxygen bottles are as to when it comes to sources anything negative NRLOL is questionable anything negative for the AFL is apparently legit
Re: Why an NRLOL salary cap of $9.5 million could see players lose out
Posted: Fri Aug 18, 2017 7:23 pm
by Terry
The missing link has been going off tonight. Must be the Neanderthal DNA coming out.
Re: Why an NRLOL salary cap of $9.5 million could see players lose out
Posted: Fri Aug 18, 2017 11:58 pm
by AFLcrap1
The_Wookie wrote: Fri Aug 18, 2017 10:11 pm
AFLcrap1 wrote: Tue Aug 15, 2017 4:54 pm
Lol remember when the lions were TRADING INSOLVENT
yeah im gonna want a source for that. And it better not be from 1993-1996.
THE AFL is providing $34 million of bank guarantees on behalf of its clubs, in some cases to enable cash-stricken operations to pay their bills and convince auditors they remain commercially viable.
As Australia’s richest football competition prepares to enter fresh negotiations on what it hopes will be another $1 billion broadcast rights deal, its underclass of working-poor clubs are increasingly reliant on the goodwill of the AFL and banks to survive.
An examination of club finances by The Australian has found the AFL club in the most dire financial position is Brisbane, which remains technically insolvent with a deficiency in net assets of $4.7m and a deficiency in current assets of $12.8m.
The club is bleeding cash, with last year’s cash profit of nearly $400,000 a quirk of accounting masking a true loss of $538,872. The club’s 2013 season balance sheet prompted a stern warning from KPMG auditor Scott Guse, who said there was a “material uncertainty which may cast doubt about the company’s ability to continue as a going concern”.
To secure an $8 million bill facility, the club relied on an AFL guarantee and presented Westpac with a separate letter of support from the league setting out “a range of financial assistance packages that can be used to assist the company to meet its obligations if necessary”. St Kilda relied on an AFL guarantee to extend its commercial bill facility from $4.75m to $6.75 million. The Western Bulldogs, North Melbourne and Melbourne, who all failed to make last year’s finals series, also depend on AFL-guaranteed credit.
Carlton and Richmond continue to operate with AFL-backed credit facilities, although both clubs are steadily reducing the amount they owe and ended the last trading year with healthy cash surpluses.
http://www.theaustralian.com.au/sport/a ... 6822011769#
Re: Why an NRLOL salary cap of $9.5 million could see players lose out
Posted: Sat Aug 19, 2017 1:06 am
by leagueiscrap
AFLcrap1 wrote: Fri Aug 18, 2017 11:58 pm
The_Wookie wrote: Fri Aug 18, 2017 10:11 pm
AFLcrap1 wrote: Tue Aug 15, 2017 4:54 pm
Lol remember when the lions were TRADING INSOLVENT
yeah im gonna want a source for that. And it better not be from 1993-1996.
Bahahahaha
Like usual a when it suits news ltd is suddenly a credible source
The irony in your hypocrisy!
THE AFL is providing $34 million of bank guarantees on behalf of its clubs, in some cases to enable cash-stricken operations to pay their bills and convince auditors they remain commercially viable.
As Australia’s richest football competition prepares to enter fresh negotiations on what it hopes will be another $1 billion broadcast rights deal, its underclass of working-poor clubs are increasingly reliant on the goodwill of the AFL and banks to survive.
An examination of club finances by The Australian has found the AFL club in the most dire financial position is Brisbane, which remains technically insolvent with a deficiency in net assets of $4.7m and a deficiency in current assets of $12.8m.
The club is bleeding cash, with last year’s cash profit of nearly $400,000 a quirk of accounting masking a true loss of $538,872. The club’s 2013 season balance sheet prompted a stern warning from KPMG auditor Scott Guse, who said there was a “material uncertainty which may cast doubt about the company’s ability to continue as a going concern”.
To secure an $8 million bill facility, the club relied on an AFL guarantee and presented Westpac with a separate letter of support from the league setting out “a range of financial assistance packages that can be used to assist the company to meet its obligations if necessary”. St Kilda relied on an AFL guarantee to extend its commercial bill facility from $4.75m to $6.75 million. The Western Bulldogs, North Melbourne and Melbourne, who all failed to make last year’s finals series, also depend on AFL-guaranteed credit.
Carlton and Richmond continue to operate with AFL-backed credit facilities, although both clubs are steadily reducing the amount they owe and ended the last trading year with healthy cash surpluses.
http://www.theaustralian.com.au/sport/a ... 6822011769#