Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).

From:
To:
 

SBD Global/August 20, 2013/Leagues and Governing Bodies

National Rugby League To Provide Each Club With $410K In Compromise Deal

Clubs appear to have finally settled their differences with the National Rugby League "over funding for next year after the game's governing body agreed to provide each of them with an additional" A$450,000 ($410,000), according to Brent Read of THE AUSTRALIAN. There "is a caveat, however." While the clubs can apply for the additional funding for '14, the money "must be repaid on a monthly basis thereafter for the next three years." The clubs will also be required to pay a service fee of A$20,000 on the money, which the NRL "is describing as an advance but amounts to little more than an interest-free loan." Clubs had initially been offered A$7.1M by the NRL for next season but "held out for the additional amount to cover the total cost of the salary cap" (THE AUSTRALIAN, 8/20). In Sydney, Adrian Proszenko reported NRL COO Jim Doyle said that "transfer windows and fees will be considered for players seeking a compassionate release as part of a review of the salary-cap system." The issue "is a sensitive one for the clubs and individuals involved as, under the rules, the holding club is likely to be severely disadvantaged should they part with one of their most-prized assets." Doyle, who is heading a steering committee to review the salary cap along with Australian Rugby League Commission Head of Football Todd Greenberg, said that "the possibility of adversely affected clubs being paid compensation was being investigated" (SYDNEY MORNING HERALD, 8/20).
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug