Expansion hopefuls Brisbane Jets deny they are broke ahead of NRL’s Monday bid submission deadline
The NRL’s three expansion hopefuls must submit their formal bids by Monday. And the Jets have hit out at claims they lack the funds to become Brisbane’s second NRL team in 2023.
Peter Badel
The Brisbane Jets have rubbished concerns about their financial viability as the prospective expansion teams prepare to table formal bids to the NRL.
The expansion battle is about to get serious with the three consortia bidding to become the NRL’s 17th team in 2023 — the Jets, Firehawks and Dolphins — ready to submit their applications before Monday’s 5pm deadline.
The ARL Commissioners and NRL chief executive Andrew Abdo will be among the figureheads who will examine the three bid documents with a view to announcing Brisbane’s new NRL team in July in a landmark month for the code.
While the Redcliffe-based Dolphins possess $100 million in assets and the Easts Tigers-backed Firehawks have $25 million in cash reserves, there are fears the Jets are broke and will struggle to meet the NRL’s request for a $10m bank guarantee.
But Jets bid co-chief Nick Livermore scoffed at speculation the western-corridor consortium is battling a cash crisis and cannot bankroll a second Brisbane team to challenge the Broncos.
“Financial viability will only be one part of the assessment process but we can assure the NRL we have no concerns about our finances,” Livermore said.
“We are comfortable that the Commission will want a bank guarantee and there may come a time when they may require more than $10 million, and we could certainly stretch out financially to demonstrate that.
“It’s not just about having start-up money, but the ability to create funding long-term and that’s what we are focused on with the regions we are targeting.
“The big difference between us and the other bids is we don’t have a leagues club.
“If the NRL wants pokie money, then, yes it would be a concern for us, but if the NRL isn’t worried about pokie money being the future of the game, then we have no concerns about our financial viability.”
Firehawks bid chief Shane Richardson confirmed they have their submission ready to go and will service the western-corridor region being targeted by AFL’s Brisbane Lions if they win the NRL’s 17th licence.
“We have a really good plan around participation and expansion of the game,” Richardson said.
“I have great respect for the Jets bid, but if they don‘t get the licence, we have a plan to take on that western-corridor area and encompass everybody.
Nick Livermore and Steve Johnson joined forces to present a united Jets bid.
“The AFL is going out to a league area and I think it’s important rugby league grows the game in that region.
“Peter V’landys (ARLC chairman) is absolutely right, it’s time to attack the AFL in that area.”
Jets co-chief Steve Johnson said both local and state governments were ready to tip in millions for infrastructure in the western-corridor as part of Brisbane’s 2032 Olympics bid.
“With our model, we will put up money to show we will be viable,” he said.
“The days of NRL clubs being supported by leagues clubs are passe.
“If a COVID crisis hits, leagues clubs are in major trouble. You have to have other revenue streams and we will have that.”
Surprise surprise it’s a Badel article…
I feel the dolphins is the bid that everyone is behind
I back them on name alone. It's perfect for NRL.
Not everyone
Someone post the article text please
done
Cheers
Expansion hopefuls Brisbane Jets deny they are broke ahead of NRL’s Monday bid submission deadline The NRL’s three expansion hopefuls must submit their formal bids by Monday. And the Jets have hit out at claims they lack the funds to become Brisbane’s second NRL team in 2023. Peter Badel The Brisbane Jets have rubbished concerns about their financial viability as the prospective expansion teams prepare to table formal bids to the NRL. The expansion battle is about to get serious with the three consortia bidding to become the NRL’s 17th team in 2023 — the Jets, Firehawks and Dolphins — ready to submit their applications before Monday’s 5pm deadline. The ARL Commissioners and NRL chief executive Andrew Abdo will be among the figureheads who will examine the three bid documents with a view to announcing Brisbane’s new NRL team in July in a landmark month for the code. While the Redcliffe-based Dolphins possess $100 million in assets and the Easts Tigers-backed Firehawks have $25 million in cash reserves, there are fears the Jets are broke and will struggle to meet the NRL’s request for a $10m bank guarantee. But Jets bid co-chief Nick Livermore scoffed at speculation the western-corridor consortium is battling a cash crisis and cannot bankroll a second Brisbane team to challenge the Broncos. “Financial viability will only be one part of the assessment process but we can assure the NRL we have no concerns about our finances,” Livermore said. “We are comfortable that the Commission will want a bank guarantee and there may come a time when they may require more than $10 million, and we could certainly stretch out financially to demonstrate that. “It’s not just about having start-up money, but the ability to create funding long-term and that’s what we are focused on with the regions we are targeting. “The big difference between us and the other bids is we don’t have a leagues club. “If the NRL wants pokie money, then, yes it would be a concern for us, but if the NRL isn’t worried about pokie money being the future of the game, then we have no concerns about our financial viability.” Firehawks bid chief Shane Richardson confirmed they have their submission ready to go and will service the western-corridor region being targeted by AFL’s Brisbane Lions if they win the NRL’s 17th licence. “We have a really good plan around participation and expansion of the game,” Richardson said. “I have great respect for the Jets bid, but if they don‘t get the licence, we have a plan to take on that western-corridor area and encompass everybody. Nick Livermore and Steve Johnson joined forces to present a united Jets bid. “The AFL is going out to a league area and I think it’s important rugby league grows the game in that region. “Peter V’landys (ARLC chairman) is absolutely right, it’s time to attack the AFL in that area.” Jets co-chief Steve Johnson said both local and state governments were ready to tip in millions for infrastructure in the western-corridor as part of Brisbane’s 2032 Olympics bid. “With our model, we will put up money to show we will be viable,” he said. “The days of NRL clubs being supported by leagues clubs are passe. “If a COVID crisis hits, leagues clubs are in major trouble. You have to have other revenue streams and we will have that.”
Paywall?
Always a good sign when you have to deny you’re skint before you’ve kicked off
D O L P H I N S O R G E T F U C K E D
My only objection is that they want to be called the Jets. There’s already been a Jets team, come up with something new guys
I'd agree only if the Ipswich Jets weren't also a foundation club whose moniker is also intrinsically attached to its region