Manly Salary cap issue

[hammertime]

Just heard one of the lead investigators say that some players have total debts that exceed the full value of their contracts but they can't pass their names to the NRL. Now that is a worry. These players cannot be trusted to behave ethically.

Wouldn't it really depend on what the debt is ?? If it's a home loan or investment property loan, then there is also an asset linked to the debt. If however, it's a debt with no tangible asset, then it's cause for concern.

Agree. Plus the contracts are rolling. If it's a 34 year old player, sure, their debts should be reasonable as they'll retire from the game soon. But if it's say a Nick Cotric who is on his last year of a current contract, but can expect a big upgrade soon, then completely different story.

 

[Tim Sheens]

Just heard one of the lead investigators say that some players have total debts that exceed the full value of their contracts but they can't pass their names to the NRL. Now that is a worry. These players cannot be trusted to behave ethically.

Wouldn't it really depend on what the debt is ?? If it's a home loan or investment property loan, then there is also an asset linked to the debt. If however, it's a debt with no tangible asset, then it's cause for concern.

Cannot imagine the authorities are referring to anything other than gambling debts and others involved with crime as not only is it outside their gambit, much of the populace would have more general debt than their employment contracts cover.

 

[Basil_Tiger]

The investigation has concluded with no charges laid - sounds like a huge cover-up. I understand that there was some kind of statute of limitations but seriously if a crime has been committed then any player involved ought to be punted (sorry, couldn't resist)

The particular task force may end but the Info. they collected will be still active for years to come,may be used at a later date in a similar criminal investigations if they decide to target individual Crims. or players taking bribes or avoiding Tax.

 

[Geo]

Kick the Silvertail Scum OUT….

 

[hobbo]

Kick the Silvertail Scum OUT….

You bored :laughing:

 

[Geo]

Kick the Silvertail Scum OUT….

You bored :laughing:

BREAKING: Charged with serious Salary Cap breaches..

The Manly Warringah Sea Eagles have been charged with significant salary cap breaches.
Information is limited. We will keep you updated.

So not bored …pumped..

 

[the_third]

http://www.nrl.com/manly-may-have-to-shed-players-over-cap-penalty/tabid/10874/newsid/116805/default.aspx

The Manly Warringah Sea Eagles face the prospect of having to shed players for 2018 after today being issued by a breach notice from the NRL following an investigation into the club's salary cap.

The NRL said possible sanctions could include "a significant fine" while they may also have to make adjustments to their 2018 cap due to payments to current players made in breach of the cap.

Two current club officials have been issued show case notices requiring them to demonstrate why their registrations should not be cancelled. The club and both officials have been provided with opportunities to assist the NRL during this investigation, NRL CEO Todd Greenberg said in a statement.

In accordance with NRL rules, the parties have been given five days to respond to the breach notices but, given the seriousness of the allegations, the NRL would consider a request for an extension of time, Greenberg stated.

 

[the_third]

http://www.nrl.com/sea-eagles-hit-with-breach-notice/tabid/10874/newsid/116804/default.aspx

The NRL today issued a breach notice to the Manly Warringah Sea Eagles after concluding its investigation into salary cap issues at the club.

The notice concerns preliminary findings of potential breaches of the salary cap over the last five years.

Should these preliminary findings be confirmed, proposed sanctions could include a significant fine on the club.

The club could also be required to adjust its salary cap for 2018 to recognise commitments made to players that are found to be in breach of the cap.

In addition to the matters relevant to the club, show cause notices have also been issued to two current club officials, requiring them to demonstrate why their registrations should not be cancelled.

NRL CEO Todd Greenberg said the Manly club and both officials have already been provided with opportunities to assist the NRL during this investigation.

They will now be given a chance to respond formally to the preliminary findings before final determinations are made.

Mr Greenberg said that, in accordance with the NRL Rules, the parties have been given five days to respond to the breach notices but, given the seriousness of the allegations, the NRL would consider a request for an extension of time.

 

[the_third]

https://www.dailytelegraph.com.au/sport/nrl/manly-sea-eagles-face-nrl-sanctions-over-potential-salary-cap-breaches/news-story/107b4b6e73b41db33c00d74e53a2cbaa
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The NRL have issued the Sea Eagles a breach notice after concluding its investigation into potential breaches of the salary cap over the last five years.

The Daily Telegraph understands the Sea Eagles’ salary cap breaches are very similar, albeit on a smaller scale, to the Parramatta Eels’ situation of 2016 where the club has become involved in organising third-party payments.

It’s believed the Sea Eagles are in breach by up to $400,000, which, as part of its punishment, the NRL will put on to next year’s salary cap.

That means the Sea Eagles, who released halfback Blake Green to the New Zealand Warriors and missed out on signing Mitchell Pearce, will not have enough money in their salary cap to chase a replacement No.7.

The Sea Eagles face a hefty fine, although it’s believed they may be spared a points deduction.

In a release issued this afternoon, the NRL said they would give the Sea Eagles five days to respond “but given the seriousness of the allegations, the NRL would consider a request for an extension of time”.

Show cause notices have also been issued to two current Manly officials, requiring them to demonstrate why their registrations should not be cancelled.

 

[Fibros]

Kick the Silvertail Scum OUT….

Agreed.

Manly Dad: Hey son, if you keep masturbating your going to go blind.
Son: Dad im over here.

 

[tigerap]

Kick the Silvertail Scum OUT….

What Bozo's

 

[oldprop]

Kick the Silvertail Scum OUT….

You bored :laughing:

BREAKING: Charged with serious Salary Cap breaches..

The Manly Warringah Sea Eagles have been charged with significant salary cap breaches.
Information is limited. We will keep you updated.

So not bored …pumped..

Dock them 12 points every year for the next 10 years.

 

[colmcd]

Just heard one of the lead investigators say that some players have total debts that exceed the full value of their contracts but they can't pass their names to the NRL. Now that is a worry. These players cannot be trusted to behave ethically.

Wouldn't it really depend on what the debt is ?? If it's a home loan or investment property loan, then there is also an asset linked to the debt. If however, it's a debt with no tangible asset, then it's cause for concern.

Agree. Plus the contracts are rolling. If it's a 34 year old player, sure, their debts should be reasonable as they'll retire from the game soon. But if it's say a Nick Cotric who is on his last year of a current contract, but can expect a big upgrade soon, then completely different story.

You don't get debts that are more then your salary that easily. Put simply this addiction:
Drug addiction?
Gambling addiction?

Because if it was a House, fast car, diamond ring, etc. The players would sell the asset and be ok.

This is the kind of horrible addiction that harms and the NRL need to stamp it out of our game.

 

[gallagher]

Kick the Silvertail Scum OUT….

You bored :laughing:

BREAKING: Charged with serious Salary Cap breaches..

The Manly Warringah Sea Eagles have been charged with significant salary cap breaches.
Information is limited. We will keep you updated.

So not bored …pumped..

Dock them 12 points every year for the next 10 years.

I'm sure old toddy is out buying some wet lettuce right now.

 

[supercoach]

I find it amazing that a couple of other clubs keep flying under the radar of the NRL. Also if Manly are in a spot of bother for arranging third party deals what about Penrith when Maloney let it slip that he was waiting for them to fix up a TPa. The NRL just let that one go through to the keeper

 

[hobbo]

I find it amazing that a couple of other clubs keep flying under the radar of the NRL. Also if Manly are in a spot of bother for arranging third party deals what about Penrith when Maloney let it slip that he was waiting for them to fix up a TPa. The NRL just let that one go through to the keeper

The keeper got nutmegged , and it went for byes.

 

[NT_Tiger]

Who said the off season was boring? OK and now for the Roosters!

 

[TCL]

I was so shocked and saddened when i heard the news! :roll

 

[Snake]

Two of Manlys employees are to be kicked out of the NRL one of them is working at another NRL club…have the Tigers got anyone fitting this ?

 

[coivtny]

Two of Manlys employees are to be kicked out of the NRL one of them is working at another NRL club…have the Tigers got anyone fitting this ?

Isn't our recruitment guy ex-Manly?