The National Rugby League will use a potential A$20M ($14.8M) annual "windfall" from point-of-consumption gambling taxes to address its lack of assets and "lessen the reliance on the State of Origin and grand final cash cows," according to Adam Pengilly of the SYDNEY MORNING HERALD. The NRL is "tipped to plough the money into its embryonic investment portfolio." Despite the possibility of the money being used for minor upgrades to Sydney's old suburban grounds, it is understood League Central "wants to use the increased revenue stream to add assets to its cash-rich state." Independent Commissioner Gary Weiss is charged with "crafting an investment plan for the NRL," which "trumpeted" strong half-yearly results when it presented to club chairs and CEOs last week. Australian Rugby League Commission Chair Peter Beattie has not "hidden his concern that the game owns little" despite being on track to post a A$45M ($33M) surplus for its financial year. The plan "has support from some powerbrokers" among clubs. Wests Tigers CEO Justin Pascoe said, "If I was in charge of spending the money I would be allocating it into grassroots or into the longer term investment of the game by trying to create wealth with other investments through cash capital now" (SMH, 6/21).
