National Rugby League clubs "lost a staggering" A$53.4M last year, as stated in a "secret financial document," according to Phil Rothfield of the Sydney DAILY TELEGRAPH. It is an "embarrassing result" for the NRL on the day of its AGM, when it will be revealed the head body also lost more than A$2M last year, despite a A$50M "advanced payment on the new TV deal from broadcasters Channel Nine to help the Moore Park administration and struggling clubs." The figures show the Parramatta Eels "had the worst result" in the year of the team's salary cap scandal, finishing with a loss of A$12M. Only two clubs -- the Queensland Broncos and Queensland Cowboys -- "made profits." Cronulla finished with a loss of A$600,000, "despite" a multi-million dollar boost from merchandising from the grand final win. The "hefty losses are the reason why the 16 clubs fought so furiously and threatened to bring down" independent commission Chair John Grant over the game’s future funding. The club losses have increased by almost A$10M annually for the past three years from A$30M in '14 to last year’s A$53M (DAILY TELEGRAPH, 2/23).