Won't the new TV deal mean the football club can operate on its own legs ?
that will be indicative of the deal
figures thrown about are roughly around the $1m mark extra to each club - that may have changed since early discussions not to mention the deal hasnt been done as yet
that said, that is not enough money gauging current trade losses - let alone servicing current and non-current debts
fingers crossed the NRL gets top dollar so clubs get more of the pie
The way I read it
the bank has a $13.5m loan.If the club goes under,they have land worth $8.5m unimproved,meaning a loss of conservatively $5m,could be a lot more.
If they get this $10m debt reduction,the worst they lose is $3.5m plus accrued interest and the dfevelopment consortium bears a lot more of the brunt.
The Bank sees having a debt of $3.5m and sees long term revenue stream for the club as about the only way to go.Surely they would have factored negative streams for a couple of years in their decision making,based on current figures.
The Tv grants for 2013 according to Gallop,will be there to buttress the clubs who are battling ATM.
Since Feb 2011,6 months a lot has changed in the current financial environment.
i have not seen anywhere where anyone believe this will not be a long term issue.
trade performance is in a flat-spin, an alarming one at that
dont forget we are looking at figures from almost a year ago and the next lot to be prepared may be even worse
a business can factor and forecast to its hearts content - the facts are in the accounts, and the facts are diabolical
from outside lookng in it views like the bank has taken two tricks and is sitting on the right bower - its how long the hand in between takes to play
