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I agree, this and the Suncorp stadium upgrade means that Queensland is definitely more of a threat to steal big events, even the GF, makes it a lot easier to start putting pressure on the NSW Gov`t to do something about Accor to match. This stuff is the future.
They obsess over trying to take Brisbane over and they think they will. They definitely thought they were going to take Western Sydney over after getting some big crowds to Stadium Australia and they went in there acting like smart arses. They are spending a fortune in Brisbane. NRL still needs to get it shit together up there a good bit but there would be little things that would make the AFL powers that be spit their cornflakes out for sure.
Wouldn’t the 60m licence fee for PNG alone have pushed revenues beyond 800m this year? At that’s without any other growth.
RL Commission boss Peter V’landys says the NRL is on the verge of becoming a $1 billion sport as League Central celebrates the greatest revenue haul in their 117-year history.
V’landys has detailed the NRL’s record-breaking season, revealed State of Origin is set for New Zealand and plans for Wayne Bennett to help build the new Papua New Guinea franchise.
But the major development is the fresh financial growth of the NRL.
The V'landys-Andrew Abdo leadership regime has presided over record revenues for the fifth consecutive year in an emphatic fiscal coup following the Broncos-Storm grand final blockbuster.
This masthead can reveal the NRL is on track to surpass $750 million in revenue this financial year, while also posting a record surplus and constructing the strongest asset base in their history — just four years after the Covid pandemic almost bankrupted the code.
“We’re on track for another record season,” V’landys said.
“Financially, we’re in the best financial position we have ever been.
“The game has never been in a better position on the field and off the field.
“The figures will speak for themselves.”
SHOW ME THE MONEY
Just five years ago, the NRL’s revenue was $419 million, with the code haemorrhaging a whopping $136m during the Covid crisis, but V’landys and Abdo have driven a remarkable fiscal fightback.
Records are tumbling.
V’landys declined to discuss specific figures but confirmed the NRL will exceed their 2024 financial year income of $744.9 million.
With this financial year to end on October 31, League Central’s bean counters have yet to finalise the bottom line, but the NRL is on track to travel north of $744m and reach an estimated $770m in revenue.
The NRL expects to smash the $800 million mark for income during the next 12 months.
Meanwhile, the NRL will trump last year’s surplus of $62.3m, set to unveil profits just shy of $70m, while their net-asset base will surge from $322.3m towards $400m as the ARLC continues to bolster its investment portfolio.
“We’re a hop, step and a jump away from $1 billion,” V’landys said.
“We don’t have to spin anything or sell it because the figures will do the talking for us.
“All credit has to go to Andrew Abdo (NRL CEO), we have grown commercial revenues, but at the same time we have reduced our costs.
“We are the most cost-efficient sports organisation in Australia.
“The game has grown so fast in the last three or four years because we have now built the game to a level where we are going to get more in TV rights fees.
“We had to build the product and the base first and we have built the game up to a point where we will get the maximum we have ever got on rights fees.
“Being patient has paid off.”
You would assume yes, but I'm not an accountant and it technically being a government grant, would it go down as revenue?
It usually is. Maybe the nrl paid it to clubs but haven’t received it yet?
Or become our own.
Our IV is cashflow and horizonal opportunity.
It’s still revenue, whether expenses increased or not.
Racing NSW bought that, not the nrl.
Buying a hotel isn’t shown as a cost on the p and L
lol the old Yawnion/Afl fan wish list
