Raiderdave wrote:Xman wrote:214Four wrote:in proper 'turnover' Penrith Panthers would be australias biggest football club. their leagues club 'panthers leagues' is part of a consortium called 'panthers group' which owns roughly 19 leagues clubs around australia, hotels and sporting and recreational facilities.
But thats not the point.
The point is how much income do they get to spend on their football facilities, football operational costs, player payments, etc.
No use having a huge revenue stream from an associated club if these funds arent available to the sporting club to spend because the associated club needs them to cover their own costs.
as much as is needed
Leagues clubs hand over as much as is required ....
the Panthers will never be in financial trouble ..... how many giggleball teams can say that
answer
not many
Matt Elliott. Picture: Gregg Porteous Source: The Daily Telegraph
THE cash-flow problems at the Penrith Panthers became so dire that the club owed coach Matthew Elliott $25,000 in wages leading into Christmas.
Panthers chief executive Michael Leary labelled the shortfall on Elliott's pay a "mix up", but The Sunday Telegraph has been told it was a direct result of the club's financial woes.
Off-contract and in the firing line after Penrith's erratic start to the season, Elliott has since been paid and refused to discuss the topic when questioned.
"I have no comment at all about that. I'm trying to focus on coaching a footy team and the playing group are my top priority," Elliott said.
The Sunday Telegraph has also learned that some suppliers have refused to deliver goods until debts are settled - to the point where the Panthers Leagues Club almost ran out of toilet paper.
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Gould to return to Penrith The Daily Telegraph, 11 May 2011
End of sidebar. Return to start of sidebar.
On Elliott's late payment, Leary said: "It was a mix-up at the finance department over invoices, but he has re-submitted them and he has received his money.
"It wasn't that he wasn't getting paid. It was just a changeover in the way he was getting paid. I can guarantee you I haven't had one player come up and say they haven't been paid."
Aside from being forced to chase wages late last year, Elliott is also fighting to extend his career at Penrith. Whether to prolong his five-year term was a hot topic at last Wednesday's board meeting.
Younger members of the Penrith squad have reportedly been struggling with mixed messages from the coach in terms of their on-field role.
This was an issue raised in relation to Elliott and his complex game plans at the Panthers in 2008.
There are also growing rumblings among Penrith identities about the board of directors, who preside over both the leagues club and football club.
Considered untouchable because of the voting structure at the club, a number of former Penrith players have lost patience as the leagues club continues to haemorrhage.
The Sunday Telegraph has been told a number of senior players are frustrated at the lack of professionalism on a variety of levels.
One bone of contention is how physiotherapist Tony Larvin still works part-time after more than 10 years of service.
While most NRL clubs employ a full-time physio to assist with recovery and rehabilitation, the Panthers often visit Larvin's clinic in their own time to attend to injuries.
Poor home crowds are another concern, along with the club's refusal to sell non-ticketed memberships to cater for more supporters. At last Thursday's AGM for both boards, Leary admitted the club's 'disappointing' home crowds were a "concern" as the Panthers posted a loss of $11.9 million for the last financial year.
In 2009, the club recorded an $11.7 million loss.
http://www.dailytelegraph.com.au/sport/ ... 6032546708
