Sell-out test match crowd boosts NZRL coffers

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Sell-out test match crowd boosts NZRL coffers
Topic Started: May 7 2010, 12:55 PM (204 Views)
stacey	May 7 2010, 12:55 PM Post #1
Administrator Posts: 5,737 Group: Admins Member #1 Joined: May 22, 2009	By Steve Deane League is out of debt and building cash reserves, says game's chief executive. Regardless of the result of last night's test, the Kiwis were guaranteed to bank about $350,000 for the financially resurgent NZRL. Victoria's state government underwrote a match that opened Melbourne's AAMI Stadium - the new home of league, soccer and union in the AFL-mad city - meaning there was never a risk to the NZRL if the match flopped. However, the sell-out crowd of 30,000 curious Victorians that packed into the state-of-the-art venue for the test ensured a tidy profit for the NZRL, which receives a 50-50 split on revenue after costs. It is the latest in a run of positive developments for the previously debt-laden governing body, which accumulated losses of $2.2 million over 2006 and 2007. Sparc has increased its funding from $140,000 to $1 million following the implementation of changes to the game's governance recommended in the Anderson Report. Meanwhile, the sport's television rights and sponsorship deals have been also upgraded. Last year's Four Nations tournament - which got a financial boost by the Kiwis missing out on a place in the final to hosts England - netted a profit of around $750,000 for the NZRL. The result is that the sport is now firmly in the black, with the cashflow problems that necessitated an advance payment from the Australian Rugby League in 2008 and a $452,000 Sparc bailout to assist with the restructure now behind it. All historical debts had been cleared, NZRL chief executive Scott Carter said. The NZRL posted a surplus of $160,000 last year and was on track to post another healthy surplus for this year. "We are now building cash reserves," Carter said. "We are conscious that you don't want to spend everything you earn." While the outlook for the next few years was positive, the NZRL was facing a potential hole in its accounts in 2013 when the next World Cup is to be held in Britain. Under present agreements, competing nations receive no income from the money made by the sport's World Cups. The 2008 World Cup earned A$5 million ($6.25 million), but that money went to the International Rugby League Federation for use in promoting the game globally. "That's a debate we will be having at international level at the end of this year," Carter said. "We don't want to go from feasts for three or four years to a famine in 2013. "Many of the countries that attend don't have an expectation of earning out of [World Cups] because their costs are covered and they get to participate. They are very happy. "But New Zealand actually sacrifices income that it can ill-afford to sacrifice. We think that needs to be addressed." By Steve Deane \| www.nzherald.co.nz
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