NRL clubs lost a total of $60m as alarming state of finances revealed

THE alarming state of NRL clubs’ finances were revealed to the 16 chief executives last week — a total loss of $60 million, with just one club making a profit and two Sydney teams only still afloat thanks to their leagues clubs.

THE NRL’s two western Sydney clubs — the Parramatta Eels and the Penrith Panthers — lost a combined $19 million on their premiership campaigns last year.

The alarming financial figures were revealed to the 16 club chief executives at their conference last week, showing only the Broncos made a profit on the 2017 season.

Grants of $13 million from the TV broadcast money (up from $10 million) this year will ensure as many as eight clubs at least break even or make small profits in 2018.

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Parramatta are here by their skin of their teeth. (Photo by Matt King/Getty Images)

Yet for the Eels and the Panthers, only their thriving leagues clubs have saved them.

Parramatta’s financial reports were effected by having no major sponsor until the end of the year, a million-dollar payout to Anthony Watmough, salary cap legal fees and the move to ANZ Stadium.

All up, clubs lost a combined total of $60.5 million.

The Broncos are making the most of their healthy profits. (AAP Image/Claudia Baxter)

The extra $48 million in grants to the 16 clubs will lessen the impact this year.

Yet clubs like the Panthers, who have had to pay out Anthony Griffin, will still finish well in the red.

The Panthers group lost money last year because of propping up the football department’s $9 million loss.

Other clubs without leagues club support have to make up the deficit themselves.

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Originally published as NRL clubs lost a total of $60m as alarming state of finances revealed