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Channel 9 is smashing the NRL about its financial position. Meanwhile the NRL has no debt at all, while 9 has $538M of bank debt/finance leases and another $312M in operating lease obligations. Where is 9s revenue going to come from now to service that??
Their 4 top rating shows - all 3 Origins and the NRL Grand Final - aren& #39;t happening because 9 doesn& #39;t want to pay the NRL the money they signed up to. Their next best rating show - MAFS - has stopped filming. What are they going to show on TV? Old Footy Show re-runs?
Meanwhile they are talking about the NRL spending too highly on administration costs, yet paid their top 3 executives $8.3M for the 2019 Financial Year. 9& #39;s CEO Hugh Marks got just under $5M alone in 2019 compared to Greenberg& #39;s rumoured $1.5M.
Marks has overseen 9s share price drop by 33% since he was appointed yet wants to criticise the NRL for its return on 9& #39;s "investment" in NRL.....
Then we have Gus Gould the financial expert telling the NRL how it should structure itself. The same guy who paid two coaches at Penrith after the club made a $5M loss in 2018 and a $280K loss in 2019. Where was this financial advice when 9 went bankrupt in 2012?
9 is now trying to cut costs by weaselling itself out of the NRL contract. Well guess what? We all see what is happening. Maybe if 9 put effort into its NRL content instead of getting washed up players to try be comedians they might get a higher return on investment?
The truth is everyone is struggling right now, and 9 is using this to try to force the NRL to renegotiate. Does that sound like something a friend of the game would do? Does it sound like something we should expect from the "home of league"? I& #39;M DONE!
