NRL Rich List: The winners and losers from rugby league’s financial arms race

Some shrewd investments have put the Sharks in the strongest financial position in the club’s history. But there is a $750m fly in the ointment. Follow the interactive map of every NRL club’s assets.

If a similar evaluation of every NRL club’s finances had been conducted just five years ago, it would make for ugly reading.

Having scoured every club’s financial reports, ownership wealth and asset base, David Riccio, Brent Read and Michael Carayannis can reveal just how rich is your footy club.

ROOSTERS

Backed by a strong mixture of clubs and other assets which generated almost $40 million in revenue. The clubs include: Easts Bondi Junction, Waverly Greens, Berkeley Sports Club and Kingswood Sports Club. They also own an office suite in Bondi Junction, the old Randwick Post Office, retail shops in Bondi Junction, a service station in Lithgow and last year they purchased a medical/dental centre at Bondi Junction. Their total comprehensive income was $7.3 million and the group’s assets are worth about $150 million. The Roosters also own a unit block in Kingsford where their academy players are based. Chairman Nick Politis is also a billionaire.

RICH LIST RATING: $$$$$

BRONCOS

The Brisbane Broncos are a financial juggernaut with soaring revenues and profits thanks to their charge to last year’s grand final. The club is publicly listed on the Australian Stock Exchange and based on their existing share price, the Broncos are valued at more than $100 million. That price is only going up given their latest financial figures. Fuelled by their appearance in the title decider against Penrith last October, the Broncos’ revenues soared north of $75 million and they returned a profit of more than $5.6 million. The club is a licence to print money and insiders suggest this year will be even better than last. The club’s major shareholder is media giant News Corp, which owns nearly 70 per cent of the club and has shown no desire to part ways with the NRL’s flagship franchise. The second largest shareholder is BGM, which is controlled by Phil Murphy. They have been a powerhouse since their inception and fears of another team in Brisbane slowing their pace were unfounded. Since the Dolphins inception last year, the Broncos have grown exponentially over the past 12 months.

RICH LIST RATING: $$$$$

BULLDOGS

The Bulldogs aren’t short of a penny for two major reasons.

They have the powerful Canterbury League Club behind them, which for example, gifted the NRL club $5.65 million in financial support last year.

The League Club also boasts just over $16 million in investment property assets, with both residential and commercial holdings in Lakemba, Belmore and Liverpool.

Adding further financial strength to the Dogs is the support of pub baron Arthur Laundy. Laundy, along with his sons Stu and Craig, are the major sponsors of Canterbury and have committed to the club through until the end of 2032.

The deal, at the very least, is worth $12 million. With bonuses for finals and premierships included, it could skyrocket to $16 million.

The Bulldogs are also looking to commence works on a $50 million Centre of Excellence at Belmore next year.

RICH LIST RATING: $$$$$

EELS

The Eels reported a profit of just under $1 million last financial year.

Parramatta are in the fortunate position of having the support of the hugely successful Parra Leagues.

However, it would be wrong to suggest the Eels are financially reliant on the leagues club. The football club hasn’t relied on handouts from the leagues club for the last four years.

That is due to the Eels executive team, led by CEO Jim Sarantinos, investing heavily in technology and data to cultivate their membership base. The return has been major.

The Eels boast the largest membership numbers of all nine Sydney clubs (almost 35,000).

Elsewhere, the Eels are poised to execute new revenue streams via the grand opening of a new Centre of Excellence and Community facility at Kellyville Park next year. The $58m project will include corporate areas and function rooms, which the Eels will make available for hire.

RICH LIST RATING: $$$$

PANTHERS

Absolute powerhouse on and off the field, backed a stable of strong leagues clubs. Have clubs in Bathurst (11,471 members), Glenbrook (5,557), North Richmond (7,570), Penrith (94,420) and Port Macquarie (18,728). They also own a Western Sydney Conference Centre and hotel. The Panthers Group recorded a total profit of $862,000 and the Penrith District Rugby League Club a $9.6 million windfall.

RICH LIST RATING: $$$$

KNIGHTS

There were fears only a decade ago that the Knights were on the brink of expulsion due to former owner Nathan Tinkler’s inability to pay staff and players.

His ultimate handover of the club to the NRL led to the powerful Wests Group securing ownership of the Knights in 2017.

The Wests Group is a Newcastle-owned and operated organisation that provides entertainment, accommodation and dining, function and fitness facilities across the region. Their annual revenue varies between $25 million and $100 million.

Owned and run by the at-times aloof CEO Phil Gardner, the Knights boast a $20 million Centre of Excellence at Broadmeadow, 24,000 members in 2023 and the reigning Dally M medallist, Kalyn Ponga.

RICH LIST RATING: $$$$

DOLPHINS

The Dolphins are owned by the affluent Redcliffe Leagues Club, which counts a shopping centre and aquatic centre among its assets. When they entered the NRL 12 months ago, they boasted an asset base worth more than $100 million. As well as the leagues club, which has more than 30,000 members, they also control Kayo Stadium and were able to provide the football club with a $4.2 million grant in its maiden season. The club was ahead of its time in many respects. More than a decade ago they bought 11 hectares adjacent to their home ground. It became the foundation for their expanding asset base and enabled them to win a licence when the NRL looked to expand to 17 teams.

RICH LIST RATING: $$$$

CANBERRA

The licence for the Raiders is owned by Canberra District Rugby League Football Club Limited, an entity with revenues of more than $92 million last season thanks to a network of leagues club throughout the nation’s capital and surrounding areas. The club has assets of more than $140 million and raked in a profit of more than $17 million last year, which allowed them to spend nearly $5 million on rugby league in the region. The Raiders are flushed with money – they have $52 million in cash burning a hole in their pocket according to last year’s financial reports. As well as their leagues club assets, they also own a sports club, a restaurant and a land development.

RICH LIST RATING: $$$$

STORM

The Melbourne Storm are asset poor but owner rich. They have more than $2.5 million in retained profits after earning more than $32 million in revenue last season. However, their total assets are just over $11 million, which puts them closer to the bottom than the top when it comes to NRL clubs and their assets. What places Melbourne among the game’s financial heavyweights is their ownership structure. Chair and majority owner Matt Tripp is a bookmaking giant who made hundreds of millions out of his sale of Sportsbet. Jayco founder Gerry Ryan, who owns a minority stake in the club, is a regular on the Rich Lists with wealth of more than $500 million. Brett Ralph is the founder and managing director of Jet Couriers with his wealth believed to be in excess of $100 million. The final owner is businessman Tom Carroll.

RICH LIST RATING: $$$$

COWBOYS

The licence for North Queensland is held by the powerful Cowboys Leagues Club Limited, an organisation which recorded revenues of nearly $80 million last year and returned a profit after income tax of more than $8 million. The club has assets of more than $80 million and retained earnings in excess of $61 million. The football club is run within the business but doesn’t need to rely on the leagues club for support. It stands on its own two feet. Last year, even though the football club missed out on the finals, they returned a profit of close to $2.7 million. It only serves to highlight that the Cowboys are a juggernaut in north Queensland.

RICH LIST RATING: $$$$

RABBITOHS

Russell Crowe, James Packer and Mike Cannon-Brookes own 75 per cent of the Rabbitohs with the remaining 25 per cent owned by the South Sydney members. Packer and Cannon-Brookes are billionaires while Crowe is a Hollywood superstar. The football club ran a $2.14 million before tax profit – behind only 2022 as the club’s most profitable.

RICH LIST RATING: $$$$

WARRIORS

The Warriors are one of several clubs that operate under an ownership and property investment model, as opposed to the reliance of a leagues club and poker machines to get by.

Their owner Mark Robinson is one of the most successful businessmen in New Zealand.

CEO Cameron George is rated among the top chiefs in the game. Since Covid-19, the club’s leaders have worked hard to acquire property assets worth around $15 million. Included among their investments is an eight bedroom home in Auckland, an industrial site, while just this week the club moved to the final stages of acquiring a sports bar, close to Eden Park.

RICH LIST RATING: $$$$

SHARKS

Shrewd investments by the current Cronulla board and management in property and land have set the Sharks up to be in their strongest financial position in the club’s 57-year history.

The purchase of Kareela golf club, which included 12,065 square metres of land for $4.6 million in 2020, is delivering an extra $1 million in profit annually.

The potential for development of the land is real with an independent evaluation of the land estimated at $12.7 million.

The Sharks have also purchased a 562 sqm retail/commercial freehold building in the main street of Cronulla.

The huge fly in the ointment for the Sharks is the long overdue completion of their $750 million leagues club development on the land they own adjacent to Shark Park.

Broken promises from the developer and builder has led to the inordinate delay and cost blow outs by $30 million with no finish line in sight. The longer the club remains unfinished, the longer the financial pain will deepen for the Sharks, particularly with being unable to trade on their biggest return day of game-day.

Easing the pain is a new relationship with US-based billionaire and tragic Sharks fan Mike Dorrell, who recently handed a $5 million donation to the club.

RICH LIST RATING: $$$

TIGERS

Strong position with the Holman-Barnes Group owning 90 per cent of Wests Tigers. Their clubs of Wests Ashfield, Croydon Sports and Markets Club turn over almost $81 million in total revenue and other income with a net profit of $6.65 million. They also have $94.4 million in assets. They always have long-time fan and former major sponsor Harry Triguboff lurking in the background who has a reported worth of $24.2 billion.

RICH LIST RATING: $$$

TITANS

The Titans were on the brink of collapse at the beginning of the 2015 season, requiring emergency funding from the NRL to be saved.

In 2017, the Titans transitioned to a company fully owned by former Titans Director, Darryl Kelly and his wife Joanne, together with former Chair, Rebecca Frizelle and her husband Brett.

The collection of wealthy and hugely successful individuals are the reason the Titans remain in the NRL. Their acquisition last year of premiership-winning coach Des Hasler is an illustration of where they want the club to go.

The Titans board are looking at expanding their asset base. They have recently bought a block of land opposite the home of Cbus Super Stadium at Robina, near the site of the proposed athletes village for the 2032 Brisbane Olympics.

RICH LIST RATING: $$$

DRAGONS

Half-owned by St George Leagues Club and WIN Corporation. The St George side of the partnership is thriving with the Leagues Club making a $7 million after tax profit and have plans to continue with its rejuvenation of its precinct. WIN recorded a net profit of $8.3 million and is owned by billionaire Bruce Gordon.

RICH LIST RATING: $$$

SEA EAGLES

Manly have run on the smell of an oily rag over the years, relying to a large extent on their majority owner and chair Scott Penn to keep the club alive. Those days appear to be a thing of the past with the Sea Eagles back in the black in recent years. According to their financial report at the end of 2021, they had nearly $36 million worth of total assets, but also a significant chunk of liabilities in the form of borrowings. They were, however, eating into that debt thanks to a profit in excess of $1 million. While Penn has the major stake in the club, Gary Wolman – the chief executive of S & J Capital Pty Ltd – and Andrew Michael – a director at Apparel Group, which has brands such as JAG, Sportscraft, Saba and Willow under its umbrella – own around 20 per cent. They have made it their mission with chief executive Tony Mestrov to fund a rebuild of the club’s home ground, which would have a cathartic effect on their finances. Penn has also held preliminary talks with San Francisco 49ers president Al Guido over a potential partnership which would involve the NFL giants taking a share of the club.

RICH LIST RATING: $$$

Originally published as NRL Rich List: The winners and losers from rugby league’s financial arms race