NRL clubs will receive an extra $450,000 a year for the start of the 2014 season, CEO Dave Smith has announced.
National Rugby League Chief Executive Dave Smith has agreed to a funding agreement which will see clubs receive $7.55m for the 2014 season, an increase of $450,000.
The additional $450,000 is available as an advance from future club funding and is a key step in a strategic overhaul of the game’s financial structures.
Under an agreement with the NRL Club Council the NRL has committed to the completion of a game-wide funding strategy for 2015 onwards by April 1, 2014.
Dave Smith has already said that the long-term model will see the NRL administration direct all broadcast revenues to the future sustainability of clubs and the State Leagues.
Under the strategy the NRL administration will focus on generating significant profits outside of broadcast revenues to both fund the game’s central administration and to diversify the game’s revenue streams. At the same time clubs will be able to focus on growing their own long-term sustainability.
“We have already undertaken the most detailed benchmarking exercise in the game’s history and we have a chance now to give clubs certainty for 2014 and plan where we can most effectively invest in growing the game in the years ahead,” Smith said.
“The Club Council recognises the importance of what we are trying to achieve and has been supportive of the process we are undertaking.”