Quote ="dally messenger"looks thats just a load of nonsense
sydney RL clubs have virtual casino, some with assets of $300 million behind them backing them up
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What? Sydney clubs like Panthers who are crying that they will have to cut back on support for senior and junior League because of reduced revenue due to the new smoking laws and pokie taxes? Sydney clubs like Parra who posted a massive loss this year - not the football club, the Leagues club which pays for football operations?
Storm don't [ilose money[/i. That's a misconception.
Storm spend roughly $21million a year (a large portion of it on junior development). They make approx $15M a year from external sources (tickets, sponsorship, jersey sales and so on) and the remainder comes from News Ltd, their owner - just as Russell Crowe, Delmege etc tip into [itheir[/i teams. If News reduced their contribution, Storm would have to curb expenditure and (unfortunately) that would have to start with Victorian juniors. If they [ilost[/i money, they would be in debt.
Anyway, most Sydney clubs would
wet themselves at the thought of having a $15M revenue stream.