The National Rugby League (NRL) team forecast a loss before tax of $470,000 in the year to December 31, 2020 compared a profit before tax of $3.36m in 2019.The Broncos said the entire NRL competition had been negatively impacted by COVID-19, with only the first round of the 2020 premiership played to regular crowd attendance. The season was suspended on March 24 before recommencing in May.While limited crowds were permitted from round six, venue restrictions imposed by health authorities had impacted the group’s commercial operations through home game related revenue shortfalls.“There was an inability to deliver all contracted game day benefits which resulted in a reduction in commercial revenue through sponsorship, ticketing, membership and merchandise sales,” the company said in a release to the market.The company said that during the year a review had been undertaken of the fixed cost base of the business including remuneration and staffing requirements.“This resulted in redundancy and restructure related payroll costs,” it said. “Coaching and player related restructure costs also were accounted for in the 2020 financial year.” The Broncos trimmed their $22m payroll by 20 people last March.The Broncos earlier this week announced the appointment of former Melbourne Storm boss David Donaghy as chief executive, replacing Paul White who has been in the position for the past decade. Originally from Gladstone, Mr Donaghy commenced his professional career as a journalist for the Australian Associated Press (AAP) before moving into executive roles at the Brisbane Lions and Melbourne Storm.The Broncos said Mr White, who will finish with the club on February 28, had achieved substantial commercial growth and expansion during his tenure. That had included the relocation of the business to the Clive Berghofer Centre at Red Hill and playing a pivotal role in the establishment of the NRLW.



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