I don't think this has been posted yet:
Sharks statement regarding salary cap
In relation to the matter of salary cap breaches and the allegation of improper payments to players, these matters relate to confusion regarding the application of Third Party Arrangements and Marquee Player allowances.
When the club became aware of the issues it contacted the NRL to alert them to the problems, with a number of meetings held with the NRL to fully discuss and resolve the matter. This has now been dealt with resulting in the club being fined $150,000
As previously advised, new policies and procedures have been established to ensure there are no further failings in this area.
As for the bank account highlighted in the report last night, in April 2012 a separate High Performance Unit account was opened. This account was utilised to deposit funds raised from a golf day and corporate luncheon, with monies from that account used to fund much needed improvements to our High Performance Unit and to purchase essential gym equipment in an effort to remain competitive in the NRL.
Any funds raised from these two events were used solely on the High Performance Unit and the Club and Head Coach Shane Flanagan categorically deny any funds from this account were used in relation to the 2011 supplements program. Also please note that the High Performance Unit account was closed in April 2013.
The establishment of this account and the resultant transactions were fully discussed by Shane when interviewed earlier this year by Grant Thornton prior to his re-appointment.
Steve Noyce has today contacted Jim Doyle NRL Chief Operating Officer to organise for an independent review of the account by the NRL Integrity Unit and the Club will fully co-operate with the review.
Finally the Sharks reaffirm their commitment to cooperating with the ASADA investigation and will not be making comment on any related matters while that investigation is ongoing. News reports surfacing last night have not altered that stance.
http://www.leagueunlimited.com/news/show/sharks-statement-regarding-salary-cap/
