QRU loses $10.8 mill over 3 years

[naza]

http://www.couriermail.com.au/sport...over-three-years/story-e6frepm6-1225852002830

THE full horror story of Queensland rugby's cash crisis was revealed yesterday as a loss of $3.1 million for 2009 which made a bailout essential.

The Queensland Rugby Union was on life support in cash terms because that dire figure was compounded by exhausting a bank line of credit of $2.6 million to pay for its operations.

The release of the QRU's financial statements shows there was no choice but to go cap-in-hand to the Australian Rugby Union last month to seek a rescue package.

Ouch. I knew things were rough but that's atrocious. Are the ARU going to have to take over ?

I have no idea how anyone's supposed to run a S14 franchise with just $436K in gate receipts.

 

[Sully]

Naza gate receipts were down $436K. I'm not sure how much gate taking were. The rumour is the need between 15 to 18 thousand people at Lang Park to break even.

 

[chief]

Jesssuusss christ. I think we will see, depending on the Reds season, half and half, half games at Ballymore like minor ones, and the rest at Suncorp. Speaking of which I wonder if they beat the Lions tonight, what the crowd will be like next week against the Bulls. As the Broncos aren't doing so well, we might see a few supporters less for Broncos games and more at the Reds.

 

[RugbyReg]

possibly, but the Lions are doing well and they are a more fasionable bandwagon to jump on.

I reckon we will still get less than 25,000. Am thinking 22,000 tops,

 

[chief]

Yeah 22,000-23,000 I reckon, helps that its on a Saturday night. The next game is on a Friday night against the Stormers so that won't attract a very decent crowd will be lucky to get 20k for that.

 

[TOCC]

Don't be fooled by the figures, that loss includes writedowns on the value of ballymore, a true indication would be the reds operating loss over that period