Eels Salary Cap Mk V

[Bandwagon]

Na it specifically says contracts entered into with players, but yeah it probably includes non-salary cap items, all 4 salary caps and probably straddles salary cap years, still to an auditor that stands out like dog's balls

I haven't looked at that entry, but if it is $8,905,114.00, It includes all employment contracts payable within the next 12 months that the Parramata national rugby league club ltd is responsible for.

 

[Bandwagon]

I am not the PLC's accountant so this is just my best guess from reading the Annual Reports, but surely there are other costs associated with the PNRL business that for accounting reasons are shown elsewhere.

For example:
- Junior Football Grant
- A portion of total wages
- Some of the Repairs and Maintenance
- Some of the Cost of Goods Sold (off-set for merchandising for example)
- Some of the Other Expenses

Easy to exceed the revenue totals and run it in the red.

Further research tells me that the Consolidated accounts in the annual report include every cost and revenue generated by the Parramatta NRL club ltd.

 

[84 Baby]

I haven't looked at that entry, but if it is $8,905,114.00, It includes all employment contracts payable within the next 12 months that the Parramata national rugby league club ltd is responsible for.

From annual report pg 40 note 23(c)

The group has entered into contracts with players with respect to subsequent seasons, whereby certain minimum amounts are payable. The minimum amounts payables(sic) are as follows:
Within one year 8,905,114

 

[84 Baby]

I am not the PLC's accountant so this is just my best guess from reading the Annual Reports, but surely there are other costs associated with the PNRL business that for accounting reasons are shown elsewhere.

I agree but you said they include all the football stuff as a single line item.
So either you're right about that but wrong about the football side costing the club money, or you're wrong about the single line and probably right about it being in the red

 

[emjaycee]

Further research tells me that the Consolidated accounts in the annual report include every cost and revenue generated by the Parramatta NRL club ltd.

This was my point.
All PNRL expense and revenue is there, just not necessarily under the single line item.

 

[emjaycee]

I agree but you said they include all the football stuff as a single line item.
So either you're right about that but wrong about the football side costing the club money, or you're wrong about the single line and probably right about it being in the red

Yeah, my bad.
There is a single line item that covers football costs and expenses but it doesn't seem as if it is the ONLY line item that covers PNRL related costs.

Like I said, I am not the clubs accountant or auditor so I could be way off the mark.

 

[strider]

Another week passes and no f**kin resolution by our esteemed heros at NRL Headquarters.

Id be willing to bet nothing will happen before SOO3 either.

So is Thursday or Friday the, "oh yeah what we said 2 months ago" day?

 

[Bandwagon]

From annual report pg 40 note 23(c)

The financials from the NRL club state that figure as being "employment contracts" not player contracts. So there is a discrepancy in the description between the PLC annual report and the Nrl club financials. The figure is identical.

 

[Bandwagon]

This was my point.
All PNRL expense and revenue is there, just not necessarily under the single line item.

Yeah you are correct, The expenses of the NRL club for 2015 were in total around 28 million.

 

[I'm a loser baby...]

Another week passes and no f**kin resolution by our esteemed heros at NRL Headquarters.

Id be willing to bet nothing will happen before SOO3 either.

So is Thursday or Friday the, "oh yeah what we said 2 months ago" day?

Lol. But also sad because it's probably true.

 

[strider]

When is Sewards NDA up? ... wasn't it some time in July?

I assume the NRL have done him a fantastic deal to keep his name out of all the mud being slung now - so he won't have anything to say to protect his won interests

But I wonder if any of our merkins have anything to say??? .... they are getting all the blame - I say sling some shit this f**kwits way

if we go down - I hope our dips hit board go down swinging and lob a few grenades seward and greenburgs way


Just on greenburg - does the merkin do anything? .... I can't remember him saying f**kin shit other than pasting us and the bullshit presser about gambling that has so far amounted to nothing

 

[El Diablo]

he does what John Grant tells him to do

 

[Gronk]

If as expected they cop a 12 competition point penalty today, the Eels will drop to 12 competition points meaning they will have to win every one of their final eight games.

It kicks off with Penrith next Sunday followed by the Titans, Wests Tigers, Sea Eagles, Broncos, Raiders, Dragons and Warriors.

Can it be done?

http://www.dailytelegraph.com.au/sp...m/news-story/1a596ded7dd3a488b42a8e805ffc2db3

 

[El Diablo]

http://www.theaustralian.com.au/spo...s/news-story/7f746054a02a9f23f28ca3c3ee2088b9

NRL turns up the salary cap heat on Parramatta Eels

• The Australian
• 12:00AM July 9, 2016
• Brent Read
  
  Senior sports writer
  Sydney
  
  

Paul Garrard declined to reveal what the additional information impacted on the club’s hopes of having any sanctions reduced.

Parramatta officials were yesterday forced to respond to further allegations of salary cap irregularities after the NRL provided the club with an additional 300 pages of documentation earlier this week.

Eels director Paul Garrard confirmed the club had been furnished with more information by the NRL and said he would be stunned if the game’s governing body handed down its final decision on sanctions today given the recent developments.

There had been speculation the hammer would fall on the club over the weekend, with the expectation that the NRL will maintain their initial position by stripping the Eels of 12 premiership points and fining them up to $1 million.

The club responded to the NRL’s initial findings last month but Garrard yesterday confirmed they had received additional information on Tuesday, from which they were asked to formulate a response by late yesterday.

“They sent us another 300 pages on information on Tuesday,’’ Garrard said. “We have been asking for information and they haven’t been giving it to us. Right at the death they gave us a bit more.”

Garrard declined to reveal how the additional information affected the club’s hopes of having any sanctions reduced, although the club had been seeking further interview transcripts from the NRL.

It is believed their response to the NRL allegations centred around evidence provided by former chief executive Scott Seward, who was interviewed by the NRL as part of their investigation into the club.

Five Eels officials were stood down over the allegations — chairman Steve Sharp, deputy chairman Tim Issa, director Peter Serrao, chief executive John Boulous and head of football operations Daniel Anderson.

Their futures hang on how the NRL reacts to Parramatta’s submissions concerning the salary cap allegations. The NRL has taken its time in reviewing information provided by the Eels as they look to ensure their final decision is watertight.

Parramatta could take the matter further if they are unhappy with the outcome, raising the prospect of legal action or a review through the NRL appeals committee. The club has also raised concerns over the role NRL chief executive Todd Greenberg has played in the investigation and whether he should play a part in determining the final outcome given his relationship with Seward.

The Eels were expected to request that Greenberg play no part in finalising any sanctions.

 

[Gronk]

Dean Ritchie ‏@BulldogRitchie 26m26 minutes ago
NRL CEO Todd Greenberg to reveal Parramatta's punishment over salary cap breaches at 10.30am

 

[El Diablo]

the club has sent out an email too

 

[Oscarman]

http://www.theaustralian.com.au/spo...s/news-story/7f746054a02a9f23f28ca3c3ee2088b9

NRL turns up the salary cap heat on Parramatta Eels

• The Australian
• 12:00AM July 9, 2016
• Brent Read
  
  Senior sports writer
  Sydney
  
  

Paul Garrard declined to reveal what the additional information impacted on the club’s hopes of having any sanctions reduced.

Parramatta officials were yesterday forced to respond to further allegations of salary cap irregularities after the NRL provided the club with an additional 300 pages of documentation earlier this week.

Eels director Paul Garrard confirmed the club had been furnished with more information by the NRL and said he would be stunned if the game’s governing body handed down its final decision on sanctions today given the recent developments.

There had been speculation the hammer would fall on the club over the weekend, with the expectation that the NRL will maintain their initial position by stripping the Eels of 12 premiership points and fining them up to $1 million.

The club responded to the NRL’s initial findings last month but Garrard yesterday confirmed they had received additional information on Tuesday, from which they were asked to formulate a response by late yesterday.

“They sent us another 300 pages on information on Tuesday,’’ Garrard said. “We have been asking for information and they haven’t been giving it to us. Right at the death they gave us a bit more.”

Garrard declined to reveal how the additional information affected the club’s hopes of having any sanctions reduced, although the club had been seeking further interview transcripts from the NRL.

It is believed their response to the NRL allegations centred around evidence provided by former chief executive Scott Seward, who was interviewed by the NRL as part of their investigation into the club.

Five Eels officials were stood down over the allegations — chairman Steve Sharp, deputy chairman Tim Issa, director Peter Serrao, chief executive John Boulous and head of football operations Daniel Anderson.

Their futures hang on how the NRL reacts to Parramatta’s submissions concerning the salary cap allegations. The NRL has taken its time in reviewing information provided by the Eels as they look to ensure their final decision is watertight.

Parramatta could take the matter further if they are unhappy with the outcome, raising the prospect of legal action or a review through the NRL appeals committee. The club has also raised concerns over the role NRL chief executive Todd Greenberg has played in the investigation and whether he should play a part in determining the final outcome given his relationship with Seward.

The Eels were expected to request that Greenberg play no part in finalising any sanctions.

Obviously can't justify 12 points after we have responded so adding some more bullshit from Seward to try and make it work. Please club take this to Court. Get Greenberg in the dock.

 

[Gronk]

Toddy has not timed this very well. He's been procrastinating all year and now in Round 18 of 26 he is going to hand down the penalty. We of course will appeal anything near 12 points and will probably seek injunction that no points be deducted from the points table until the legal process is complete.

Tick tick tick Todd. What if it hasn't been resolved by Round 26 ? How embarrassment.

 

[Joshuatheeel]

How can they give us an extra 300 pages to respond too in only 2-3 days ?

Have they just given us a reason to take legal action ?

 

[Twizzle]

My concern if that happens @Gronk is that they will then punish us with these points and TPAs being under the cap for next season. Personally I'd rather get this over with this season.