Quote ="dally messenger"penrith panthers has assets over $300 million, including leagues clubs in newcastle and elsehwere.'"
Assets, schmassets. Yes they have massive infrastructure (all of which costs to maintain). However, if you were to look at the balance sheets for the last few years you would find after tax profit has dropped significantly. Some of the clubs under the Panthers umbrella (I think Wentworthville for example) made losses last year. Parramatta Leagues has some fairly decent assets, yet they made a loss last year too - something like $6 million IIRC.
Read the news and you will see both these clubs - infact most of the licenced clubs in NSW - are crying poor. While you're at it, have a read of many clubs - Wests and Parra in particular - expressing their concerns about how the loss of revenue will impact the future viability oftheir Rugby League clubs. Pokies are no longer the golden future of Rugby League. (And a damn good thing too as far as I'm concerned. There are way too many pensioners and low income earners gambling away their mortgage payments or the food off their family's tables)
Quote the storm do lose money. stop talking nonsense.'"
No, they don't. Their revenue, including funds provided by their owner, meet their expenditure.
A [iloss [/iis what Parramatta have, when revenue raised from all sources (including their Leagues club) does not meet their expenditure.