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Sport NRL slashes costs by 70 per cent in bid to save rugby league

06:20  30 march  2020
06:20  30 march  2020 Source:   smh.com.au

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SYDNEY, AUSTRALIA - MARCH 23: ARLC Chairman Peter V’landys speaks to the media during an NRL press conference at NRL headquarters on March 23, 2020 in Sydney, Australia. (Photo by Matt King/Getty Images) © 2020 Getty Images SYDNEY, AUSTRALIA - MARCH 23: ARLC Chairman Peter V’landys speaks to the media during an NRL press conference at NRL headquarters on March 23, 2020 in Sydney, Australia. (Photo by Matt King/Getty Images) The NRL has told clubs it will splash its own costs by 70 per cent over the second half of the season to ensure it can fulfil the funding commitments it has made to clubs and players during the coronavirus crisis.

NRL CEO Todd Greenberg and ARLC chairmen Peter V'landys addressed key stakeholders - including the 16 clubs, the states and the Rugby League Players' Association - via a phone hook up on Tuesday morning.

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The amount you save will be determined by the stability of your job, your income, any other debts you may have, and if you are a single or double-income household. Remember, your emergency fund should be fairly easy to access, so keep it in a liquid investment vehicle or savings account.

The NRL will slash its operating costs by more than half after it emerged it spends almost 0,000 a day to run its competition. The NRL initially put aside just .4m for player payments, which would have resulted in a pay cut of up to 87 per cent . However, that figure will increase to .2m, which

The coronavirus has put huge pressure on Rugby League Central to slash its costs and they have responded with a huge reduction following the coronavirus threat.

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The Herald has been told that the NRL, having spent $76 million to run its administration and operating costs for the first half of the game's financial year, will slash that spend to just over $20 million for the second half. That reduction is the result of a 95 per cent reduction in staffing levels, coupled with agreed executive pay cuts that the commission rubber-stamped on Tuesday morning. That will include a 60 per cent reduction in operational expenditure, with only essential services remaining.

The money saved will result in an additional $40 million being given to the clubs in emergency funding from the period of April to October. That equates to an extra $2.5 million each to help ensure their survival. They have also been warned there is no contingency for "differential" emergency funding as there will be no additional cash to give to a franchise on the brink.

The players union has also agreed in principle to accept $19.2 million in payments to players from April to October. That arrangement was struck after they were given assurances they would have access to the hardship and retirement funds.

The cost cutting at head office comes just a day after the Sun-Herald revealed that head office was spending almost $500,000 a day to run its competition.

The administration and operating costs of the game have blown out to $181 million a year according to the NRL's latest financial report. That equates to about $493,000 every day to run a 25-round competition, a finals series and three State of Origin matches.

The model is unsustainable in the current environment, prompting the NRL to dramatically slash its costs for the remainder of the year.

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