NRL ‘secures a $250million loan’ to stop the game from collapsing in financial ruin after the coronavirus outbreak forced play to stop
- The NRL secured a $250million loan from London’s Oakwell Sports Advisory
- They struggled to find an Australian backer due to the coronavirus outbreak
- Loan removes pressure from Nine and Fox who contracted to pay $130m a year
- Competition to go ahead on May 28 with games expected to be played in NSW
- Learn more about how to help people impacted by COVID
The NRL has reportedly secured a $250million loan from overseas banks to stop the game from collapsing after the coronavirus outbreak forced the the sport to stop.
The competition struggled to find an Australian backer as the game was cut short after round one due to the coronavirus outbreak.
NRL brokered with London’s Oakwell Sports Advisory for the $250m which will allow the sport to go ahead as planned for May 28.
The competition struggled to find an Australian backer as the game was cut short after round one due to the coronavirus outbreak (Canberra Raiders players celebrate during their game against the Gold Coast Titans at GIO Stadium on March 13)
NRL is expected to return on May 28 after the game was stopped due to the coronavirus outbreak (Pictured: Renouf To’omaga of Canterbury Bulldogs playing against the North Queensland Cowboys at ANZ Stadium on March 19)
The NRL loan removes added pressure from Nine and Fox Sports who are contracted to pay the NRL $300m a year till the end of the 2022 season.
The Australian Rugby League Commission chairman Peter V’landys met with Nine boss Hugh Marks on Tuesday.
Following their meeting, V’landys said Nine is now committed to the game resuming as they continue to sort out details ahead of the starting date next month.
‘There’s a lot of detail still to be sorted out. There’s no doubt about that. There’s a lot of hard work to go under the bridge,’ Mr V’landys said.
‘But at least it’s done in good spirit and in good faith… [Marks] put his position to me, I put my position to him. We’re not that far apart.
‘We’re a little bit apart, and that’s what you do in negotiation and you try and get to the position where everyone’s happy with.
‘We couldn’t have gotten more than what we did today out of the meeting.’
The NRL is also working on Queensland teams staying in Sydney so they don’t have to quarantine themselves for 14 days each time they go back to the state.
Queensland Premier Annastacia Palaszczuk said State of Origin may not be hosted in the state either under health advice.
‘I love the footy as much as you, as much as everyone else,’ Ms Palaszczuk said on Tuesday.
ARLC chairman Peter V’landys (pictured) met with Nine boss Hugh Marks on Tuesday after the broadcaster doubled down on their decision for the game to resume
‘But look, I think we have to be very realistic here. We have to take the advice of health [authorities].’
She however, did not rule out the State of Origin returning in some capacity this year, but said it could be held in December if restrictions are lifted.
Since no Origin games will be played in Queensland, the entire series may take place in NSW.
Prime Minister Scott Morrison said he welcomed the NRL’s efforts to push forward with the season, but warned against doing it hastily.
He said there will be no special arrangements for the NRL as they will be subject to health advice.