Benny Elias has called on the NRL to buy channel Ten. But is taking business advice from Elias the wisest move?
"FORMER rugby league star and wealthy Sydney businessman Benny Elias has called on the NRL to consider buying the struggling Channel Ten for $100m.
The Daily Telegraph can reveal Elias will hold talks with influential NRL executives next week where he will push for the game’s independent commission to begin a feasibility study into buying the flagging network.
“Ten needs rugby league — I believe it would be an absolute lifesaver for them. This is a blue-chip sport and Channel Ten could attain the broadcast rights by purchasing the station,” Elias said.
“Let’s take on the AFL and be a leader in the business and sporting world
Ten last week revealed it had suffered a shocking half-year loss of $232 million, the entire company was now worth $99.7m. The struggling network could fall into receivership.
Elias told The Daily Telegraph that the NRL should have the necessary money for the sale and that matches would be shared between TEN and Fox Sports.
Some industry insiders think Elias’ plan has considerable merit, others claim the NRL would have little desire running a TV station.
Elias urged the NRL to employ experienced businessmen like David Gyngell, John Singleton and David Leckie to help run the network’s rugby league arm.
“These people have the experience and love of the game. This is a game-changer,” said Elias, who earned his wealth through property development and the telecommunications world."
“Here is a chance to own their own network — an opportunity to buy an asset that I believe is very, very cheap.
“A $51m investment would give rugby league the majority shareholding in Network TEN on today’s market value. It would be the greatest investment this game has achieved.
“The independent commission should do its detailed due diligence into the feasibility of acquiring the station to show games.
“This the chance for the game to secure its first significant asset. They don’t even own their own building at League Central.
“TEN are in all sorts of strife and this is a lifeline. It’s a win-win. Sport is the backbone of all TV. Having the Big Bash, NRL, and Australia’s greatest sporting asset — State of Origin — would be a great financial and programming winner.
“We could have a national free-to-air broadcaster to open up the game in places like Adelaide and Perth where there is very little penetration. We are the NRL — the ‘National’ Rugby League.
“The most important thing is the longevity of rugby league. Let’s prepare ourselves for the future of our game for the next 100 years.”
Nine has an existing broadcast rights deal with the NRL but Elias believes the game should own its own network with NRL games consistently a ratings winner.
Elias claimed TEN could recoup some costs by onselling State of Origin to Nine or Seven if it meant significant revenues for the channel.
“This would give TEN the jewel in Australian sport. They could sell State of Origin to Nine or Seven for a fortune. Origin offers the three most-watched programs in the country, “ he said.
“Get the independent commission to earn their keep. All the billions of dollars they have been given over the years, the NRL own nothing. Nothing.”
The NRL preferred not to comment on Elias’ comments."
http://www.dailytelegraph.com.au/sp...m/news-story/6115a621b3cfe25fe2e11cb31e27a425
