It seems a year of salary cap scandals, player dramas and boardroom bust-ups has cost the Parramatta Eels more than just their reputation, with reports the club is set to lose $11 million.
According to The Daily Telegraph, a letter will soon be sent to members detailing the cost of the Eels’ forgettable 2016.
It really has been a horrendous year for the Eels, who were stripped of 12 competition points after been found to be in breach of the salary cap.
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But it didn’t end there, with stars Corey Norman facing drugs charges and Kieran Foran, who departed the club just eight months after signing a massive deal, also been investigated as part of match-fixing claims.
It’s believed $1.24 million of the lost money was spent on legal and advisors’ fees, after five former Parramatta officials appealed their sacking in the NSW Supreme Court following the salary cap drama.
There has also been loss of sponsorship revenue.
Nearly $1 million is believed to have gone towards player contract terminations, including Foran and Anthony Watmough, with around the same amount paid in fines and penalties.