Menu
Finance

NRL Clubs To Contribute Extra A$100,000 Per Year To Fund Self-Insurance Plan

National Rugby League clubs will have to contribute up to A$100,000 ($77,800) extra per year "to pay for career-ending injuries" after rugby league followed the Australian Football League's lead in "shifting to a self-insurance scheme," according to Adrian Proszenko of the SYDNEY MORNING HERALD. Rugby League Central is "beginning the process of amassing a multimillion-dollar pool to assist players forced into premature retirement due to injury." The NRL will contribute A$600,000 ($466,600) and the clubs will "chip in" A$150,000 ($116,700) each to cover the remainder of the costs. Under the terms of the deal, it will be "compulsory for all clubs to fork out for the players' private health insurance." Previously, clubs that did not do so could contribute as little as A$50,000 ($38,900) to the career-ending insurance scheme when the bill was split with the NRL and the players. Their costs will now triple as the funds go toward a "self-insurance scheme that will likely be administered by the union." An NRL spokesperson said that the AFL had recently moved toward the self-insurance model and the governing body and the clubs would "share the costs of running it." The spokesperson added that the clubs agreed to the new system "several months ago." The result is A$3M ($2.33M) being allocated to the health and well-being of the players each year. The NRL will deduct the funding from club grants, which have increased by 130% under the new funding arrangement. Some club execs said that the latest expense "would make it harder to get into the black." One club powerbroker said, "It's going to be another A$100,000 that we have to pay, which is another cost for us to swallow. It's not that this is a bad idea. ... The problem is the communication and timing of it" (SMH, 10/24).

SBJ Morning Buzzcast: April 23, 2024

Apple's soccer play continues? The Long's game; LPGA aims to leverage the media spotlight

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

NBC Olympics’ Molly Solomon, ESPN’s P.K. Subban, the Masters and more

On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with Molly Solomon, who will lead NBC’s production of the Olympics, and she shares what the network is are planning for Paris 2024. Later in the show, we hear from ESPN’s P.K. Subban as the Stanley Cup Playoffs get set to start this weekend. SBJ’s Josh Carpenter also joins the show to share his insights from this year’s Masters, while Karp dishes on how the WNBA Draft’s record-breaking viewership is setting the league up for a new stratosphere of numbers.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2017/10/25/Finance/NRL.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2017/10/25/Finance/NRL.aspx

CLOSE