Life's no good for Sharks' sponsor
Life's no good for Sharks' sponsorNinemsn, AustraliaBy Jane Aubrey, WWOS The future of the
Cronulla Sharks is in serious doubt after major sponsor LG Electronics refused to renew their $1million deal with the embattled
NRL club. Earlier this week,
NRL boss David Gallop took the extraordinary step of
...
Source: http://wwos.ninemsn.com.au/article.aspx?id=816348
Life's no good for Sharks' sponsor
By Jane Aubrey
12:00 AEST May 21 2009
<EDITED> Full article can be found
here
Cronulla's cash woes came to light in 2005 when the club refused to take up a $10million up-front offer from the NRL to relocate to Gosford.
"The NRL offered us $10 million off the bat and we believe we could have got that offer up to $12 million with some negotiation back in 2005," former football manager Theo Burgess told Rugby League Week last week.
"But we took it to the Sharks board, who were all very conservative, and they knocked it on the head - and that was the end of it - they were in denial.
"The sad thing is that it was for five years so had the club gone when we planned in 2006, that would have ended after 2010 and been an end to the Sharks massive debt."
Earlier this month the NRL refused to fund the club's bid to move five home games a season from the Sharks' traditional home ground, Toyota Stadium to Bluetongue Stadium at Gosford where $100,000 per game of guaranteed revenue is on offer.