National Rugby League Banks Close To $45 Million In First Year Under CEO Dave Smith

The National Rugby League has banked almost A$50M ($45M) in the first year under CEO Dave Smith’s leadership, "riding high on a much-improved television deal and booming sponsorship," according to Josh Massoud of the SUNDAY TELEGRAPH. Club CEOs "were informed of the record result" on Friday -- a A$60M about face from 12 months ago. The exact surplus of A$49.6M "will be invested straight into the game’s future fund," which has already been used to supply financial aid to Wests Tigers and St. George Illawarra. The profit "was no surprise to the clubs," given the new broadcast deal delivers rugby league an additional A$100M per annum. CEOs were undecided on whether the surplus was enough, "preferring to wait until future years to add perspective." One CEO said, "It’s a massive thing for the game to finally have this money, but it’s too early to say whether it’s a good result in isolation" (SUNDAY TELEGRAPH, 2/15).