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Kerry Stokes came out after the Seven Group’s most recent AGM stating that the Nine Entertainment Group will be run by the banks within a year.
This is very interesting. With Nine in debt to the tune of $3.66 billion, where are they going to get the $ 1.5 billion from to line the pockets of the NRL club CEOs, where some are also facing unpayable debts.
Rugby league in all sorts of mess again, something like it was in 1995. Who else is going to bid for the television rights for rugby league under the current agreements?
Is the true reason for the urgency for an independent commission as soon as possible, to get rid of the current ‘lift up your skirt’ clauses in place with the Nine Entertainment Group and NEWS Ltd. through Fox, who have the Pay TV sown up till 2027?
With the uncertainty, who would be interested?
Does anyone know the real reason why News Ltd. won’t give the NRL CEOs their demand for a non-compete clause before handing the game back to virtually the NRL club CEOs, because they will have the voting power to remove any commissioner that doesn’t toe their line?
If they do manage to void all current contractual arrangements because they have dissolved the current bodies in name and the new trading name is set up, then all the current monopoly money will be thrown out the window. Just like all the global economies and stock markets’ monopoly, monies are being forced into correction, certain things have been out of control for way too long.
Universal Pro League was told recently by a high level official that they, the NRL, have not been able to use the format because of the intellectual property rights.
Will there be another break away because of the division within the code? Only time will tell.
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