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Banaghan's dodgy deals
By James Hooper
March 22, 2006
PLAYER agent Jim Banaghan negotiated one of the sweetest contracts in the NRL through the New Zealand Warriors - including free travel and luxury accommodation.
His players loved it too - because his management fees of more than $100,000 were paid for by a third party.
A Daily Telegraph investigation has uncovered the extensive dossier of perks Banaghan received as part of the New Zealand Warriors salary cap scandal.
Eight players out of the Banaghan management stable are currently contracted to the Warriors including Ruben Wiki and Nathan Fien.
Apart from the free airfares and accommodation, Banaghan has also received cash payments from the Warriors.
None of it was included in the salary cap.
George Mimis, who manages former Bulldogs skipper Steve Price, has never accepted airfares or accommodation.
But a signed letter of agreement with the Warriors included his own management fees, Price's sign-on fee, a free car and a lucrative job with an Auckland radio station.
The sign-on fee in the contract registered with the NRL was for a lesser amount and did not include the car or employment at the radio station.
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The third party payments for the management fees were made by Cullen Sport, a company controlled by former Warriors owner Eric Watson.
When contacted when the Warriors salary cap scandal first broke on February 24, Banaghan said: "I know nothing."
Last night the leading player agent, whose powerful stable includes at least 20 NRL stars, maintained: "I've done nothing wrong so I'm happy," Banaghan said.
Mimis also denies any wrongdoing. He has been implicated in the affair over Price's contract, which failed to include a car and details of employment with a radio station.
Another part of Price's deal allegedly included an unsigned contract guaranteeing three years work after retirement, but Mimis has strongly denied any knowledge of this.
"There is no deal agreed to between Price and the Warriors for any form of certain employment post his football," Mimis said.
"There were lots of discussions with both the Warriors and the Bulldogs but there was no deal and there is no deal.
"Steve Price is currently undertaking university studies to give himself every opportunity for employment post-football.
"The Warriors opted to increase the radio contract, reduce the NRL contract and they explained to SFX that this had been legitimised through the NRL."
Both agents will come under scrutiny - and face the prospect of the NRL refusing to register them as managers - at an Accreditation Committee meeting this Friday.
NRL chief executive David Gallop last night outlined how agents found to be in breach of accreditation committee guidelines face stiff penalties, including losing their official NRL accreditation.
"The accreditation committee must take seriously any information that comes forward which indicates agents have been complicit in breaches of the rules," Gallop said.
New Zealand Warriors chief executive Wayne Scurrah refused to discuss the intricate details of the latest salary cap scandal developments but confirmed a number of irregularities were uncovered by an internal audit.
"There were some things that we were concerned with but we've managed to unwind everything and we're totally looking forward and we've got excellent relationships with all our agents," Scurrah said.
The Daily Telegraph
http://foxsports.news.com.au/story/0,8659,18557705-23214,00.html
By James Hooper
March 22, 2006
PLAYER agent Jim Banaghan negotiated one of the sweetest contracts in the NRL through the New Zealand Warriors - including free travel and luxury accommodation.
His players loved it too - because his management fees of more than $100,000 were paid for by a third party.
A Daily Telegraph investigation has uncovered the extensive dossier of perks Banaghan received as part of the New Zealand Warriors salary cap scandal.
Eight players out of the Banaghan management stable are currently contracted to the Warriors including Ruben Wiki and Nathan Fien.
Apart from the free airfares and accommodation, Banaghan has also received cash payments from the Warriors.
None of it was included in the salary cap.
George Mimis, who manages former Bulldogs skipper Steve Price, has never accepted airfares or accommodation.
But a signed letter of agreement with the Warriors included his own management fees, Price's sign-on fee, a free car and a lucrative job with an Auckland radio station.
The sign-on fee in the contract registered with the NRL was for a lesser amount and did not include the car or employment at the radio station.
Advertisement:
The third party payments for the management fees were made by Cullen Sport, a company controlled by former Warriors owner Eric Watson.
When contacted when the Warriors salary cap scandal first broke on February 24, Banaghan said: "I know nothing."
Last night the leading player agent, whose powerful stable includes at least 20 NRL stars, maintained: "I've done nothing wrong so I'm happy," Banaghan said.
Mimis also denies any wrongdoing. He has been implicated in the affair over Price's contract, which failed to include a car and details of employment with a radio station.
Another part of Price's deal allegedly included an unsigned contract guaranteeing three years work after retirement, but Mimis has strongly denied any knowledge of this.
"There is no deal agreed to between Price and the Warriors for any form of certain employment post his football," Mimis said.
"There were lots of discussions with both the Warriors and the Bulldogs but there was no deal and there is no deal.
"Steve Price is currently undertaking university studies to give himself every opportunity for employment post-football.
"The Warriors opted to increase the radio contract, reduce the NRL contract and they explained to SFX that this had been legitimised through the NRL."
Both agents will come under scrutiny - and face the prospect of the NRL refusing to register them as managers - at an Accreditation Committee meeting this Friday.
NRL chief executive David Gallop last night outlined how agents found to be in breach of accreditation committee guidelines face stiff penalties, including losing their official NRL accreditation.
"The accreditation committee must take seriously any information that comes forward which indicates agents have been complicit in breaches of the rules," Gallop said.
New Zealand Warriors chief executive Wayne Scurrah refused to discuss the intricate details of the latest salary cap scandal developments but confirmed a number of irregularities were uncovered by an internal audit.
"There were some things that we were concerned with but we've managed to unwind everything and we're totally looking forward and we've got excellent relationships with all our agents," Scurrah said.
The Daily Telegraph
http://foxsports.news.com.au/story/0,8659,18557705-23214,00.html
