League: Warriors post profit while majority of clubs lose in excess of $4.5 million last year

The Warriors made $600,000 last year - despite missing the finals for the fourth year in row - while the bulk of clubs suffered huge losses. Photo/Getty
The Warriors made $600,000 last year - despite missing the finals for the fourth year in row - while the bulk of clubs suffered huge losses. Photo/Getty

The Warriors were one of just three clubs to post a profit with leaked NRL documents revealing the bulk of their rivals lost a combined amount in excess of $45 million last season.

Sydney's Daily Telegraph has obtained an auditing document that exposes the perilous financial state of the NRL.

The Warriors made $600,000 last year - despite missing the finals for the fourth year in row - leaving them behind only the Rabbitohs ($1.4 million) and Broncos ($800,000) as the NRL's most financially stable clubs.

At the other end of the spectrum, the Parramatta Eels are on struggle street, after their football operations department recorded a staggering $8 million loss before being rescued by their Leagues Club.

Neighbouring western Sydney club the Penrith Panthers also lost $6.4 million and the Canberra Raiders $5.4 million, as the majority of clubs battle to stay afloat despite grants of $8.37m from the NRL last year.

Breakdown of every NRL club's finances following 2015 season:

RABBITOHS - $1.4 million profit

Financially the most successful club in the competition on the back of winning the 2014 premiership and signing up 35,000 members as a result. Membership income is now worth $4.5 million alone. They also have no junior leagues costs because of the thriving Souths Juniors.

BRONCOS - $800,000 profit*

The $800,000 profit is an estimate figure provided to the NRL. As a privately owned company, the official profit will be revealed to shareholders at the end of the financial year. In a much stronger position than the Sydney clubs from having Brisbane to themselves.

*Estimated

WARRIORS - $600,000 profit

Struggled on the football field for much of the year but have a strong membership base and merchandise sales. Also have a huge advantage, similar to Brisbane, of having no competitors and an entire country to themselves.

COWBOYS - $360,000 loss

Won the premiership but still lost $360,000. Employee costs were $2 million more than the previous year. The club also invested heavily on a new high performance unit. Officials expect a stronger 2016 result on increased crowds, membership and NRL grant.

KNIGHTS - $1 million loss

Considering they finished with the wooden spoon, a $1 million loss was an acceptable result. The NRL has to pick up the shortfall as the owner. Losing Wayne Bennett's salary saved $1 million. Budgeting to break even this year with the increased NRL grants.

WESTS TIGERS $2.1 million loss

The poor financial result matched the team's performances on the field which resulted in lower gate takings than previous years. Also had to pay out chief executive Grant Mayer. Financial position will be clearer on March 31, with Balmain's deadline to pay back $5 million for a share of joint venture.

SHARKS - $2.2 million loss

Lost $2.2 million but will be boosted in future years from sales of the Woolooware Bay unit development next to Remondis Stadium. Would have been a worse result but for increased membership. Also didn't get a major sponsor until late in the season.

DRAGONS - $2.6 million loss

Lost $2.6 million and will get a leagues club grant of only $700,000. Still heavily relying on funding and support from the NRL. Licensed club is now making $5 million profit. Facing a more difficult year because it is the Roosters' turn to get Anzac Day gate takings.

SEA EAGLES - $2.9 million loss

Lost $2.9 million in a result that reflects on the poor performances of the team. Also had a huge staff turnover and had to pay out the final year of Geoff Toovey's contract before hiring Trent Barrett. Have to survive with no leagues club support.

TITANS - $3.3 million loss

Finished with a $3.3 million loss which will have to be covered by the NRL until they find a new owner. Crowds were down last year and sponsors were difficult to find because of a number of serious off-field issues. Also still paying for former coach John Cartwright.

BULLDOGS - $3.5 million loss

Absolutely no alarm bells despite a $3.5 million loss by the football club. A grant of more than $4 million from a thriving Canterbury leagues club will actually leave them with a profit. Also did well from the Back to Belmore games.

STORM - $3.8 million loss

On face value a loss of $3.8 million for a club without the support of a Leagues club would be a worrying result. The fact is it's a much better result than previous years when losses were reported of up towards $7 million.

ROOSTERS - $3.9 million loss

No wonder veteran chairman Nick Politis has been at the forefront of the campaign to get the clubs extra funding from the new broadcasting deal. The football club lost $3.9 million which is far worse than the $1 million the previous season after they won the premiership.

RAIDERS - $5.4 million loss

It's been a huge struggle in the national capital as a loss of $5.4 million would indicate. Fortunate to have the support of a strong Queanbeyan Leagues Club. Need better results and better gate takings this season. Also looking to trim costs.

PANTHERS - $6.4 million loss

So much for that five-year plan - they've ended up with a $6.4 million loss and failed to make the finals. Had to pay out Ivan Cleary and also have Phil Gould's salary which is far greater than general managers at other clubs. Losses will be covered by Panthers Leagues Club.

EELS - $8 million loss

It's hard to put a positive slant on a club that loses $8 million but the Eels spend $2 million on junior and game development. They also spent $1 million on a new high performance unit and paid a salary cap fine of over $400,000. Leagues club made more than $12 million profit.

- Daily Telegraph

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2017, NZME. Publishing Limited

Assembled by: (static) on production bpcf03 at 25 Feb 2017 09:13:35 Processing Time: 831ms