NRL 2024 salary cap analysis: Phil Rothfield reveals what every club’s roster is really worth

The rich have got richer in 2024, with the Roosters’ roster poised at over $3m more than the Bulldogs and Tigers. PHIL ROTHFIELD’s salary cap appraisal of every club reveals some startling trends.

How much is your club worth? Phil Rothfield’s salary cap appraisal reveals all.

Roster valuations at every NRL club reveal the Sydney Roosters yet again have a squad that is worth $2m over the salary cap and $3m more than two of their struggling rivals, Wests Tigers and the Bulldogs.

On paper the glamour club is valued at $13.65m, while the salary cap for 2024 is $11.6m.

Now, before you start the “Uncle Nick, sombrero and brown-paper bag” jokes, this is all subjective and based on the opinions of your columnist and colleague Brent Read in assessing the top-30 squads at the 17 NRL clubs – and not what they are actually paid.

In fact, the salary appraisals show 12 clubs have recruited well and are actually “over the cap”.

Obviously players will play for the Roosters or any of the stronger clubs for less than they can earn elsewhere to get a better opportunity to play finals and representative football and, in some cases, better coaching.

There are some clear examples at the Roosters.

Joey Manu is on $820,000 according to our exclusive NRL Rich 100 list, but is worth $1.1m in our valuations.

Joey Manu is one of the highest valued centres in the league. Picture: NRL Photos

Brandon Smith went to the Roosters for $300,000 less than he could have got at the Dolphins, because he knew that they had a better chance of winning the competition.

The analysis shows an alarming gap between the top and bottom sides.

The Roosters are, on paper, worth $3.4m more than the Tigers and $3.3m more than the Bulldogs.

It’s easy to see why.

Superstars James Tedesco, Joey Manu, Luke Keary and Joseph-Aukuso Suaalii in the backs. Lindsay Collins, Victor Radley, Angus Crichton, Spencer Leniu, Jared Waerea-Hargreaves and Smith in the pack.

They’ve all played Origin or international football.

The value of Canterbury, despite a mass player overhaul and the inclusion of Stephen Crichton, has improved by only $530,000 on last year’s valuations.

Stephen Chrichton was a big-money acquisition for the Bulldogs this season. Picture: Brendon Thorne/Getty Images

They have such a long way to go, as shown on Saturday against the Eels.

Wests Tigers, after two straight wooden spoons, are valued at just $10.24m – more than $1m under the cap.

SCROLL DOWN TO SEE EVERY CLUB’S TRUE ROSTER WORTH

Obviously they have to pay overs for any new signings because of their position on the ladder.

Another factor is that the stronger clubs also have the better corporate connections for third-party sponsorships.

A player joining the Broncos, the Roosters, Storm or Souths is more likely to get a third-party deal.

The Dolphins’ Peter O’Sullivan knows how to build a rugby league roster better than most.

He’s been an NRL recruitment specialist for 30 years and signed the likes of Greg Inglis and Israel Folau at Melbourne Storm when they were unknowns.

It was the same with Latrell Mitchell, Boyd Cordner, Roger Tuivasa-Sheck and Manu when he was working at the Roosters.

O’Sullivan helped build the current Warriors team before joining the Dolphins.

O’Sullivan says it’s all about patience rather than panic. To ignore the temptation to try quick-fix rebuild solutions.

Herbie Farnworth was the marquee signing for the Dolphins in 2024. Picture: NRL Photos

“The worst thing any club can do is start panic buying,” O’Sullivan said.

“We set our price limits last year and missed out on a couple of players because we wouldn’t pay overs.

“That meant we were well under the salary cap, but by being patient, it allowed us to sign Herbie Farnsworth and Thomas Flegler for this year. It takes time.

“You can’t just rush in and pay stupid money. The best teams have well-balanced caps.

“It also helps to have Wayne Bennett because of his attraction to potential recruits.”

There are some other interesting points:

● Three teams have increased their value by more than $3m on last year (Dolphins, Warriors, Knights), with the Dolphins going from 17th to 10th most valuable roster in their second season.

● The Sharks’ roster value increased the least of all teams, at $180,000, reflecting their lack of free agent activity.

● And the Panthers’ roster is $1m more valuable than last year, despite losing Crichton to Bulldogs.

* findings calculated using Phil Rothfield’s best 17 for each club

Originally published as NRL 2024 salary cap analysis: Phil Rothfield reveals what every club’s roster is really worth