The Australian's John Stensholt says the $250 million loan secured by the NRL will “tie the competition over” until late May when “hopefully some broadcasting money will kick back in”. Banks in the United Kingdom have agreed to provide the NRL with a much-needed loan secured against future revenue and a new date has been set in late May to re-launch the competition.
Mr Stensholt described the loan as “bridging finance” which will allow the NRL to “keep paying the bills and keep paying the players”.
He said the loan was a “costly” but necessary move which the NRL “could be paying back for several years”.
It was “more difficult for the NRL to get a loan because the game hasn’t been run ‘as well’ as the AFL has,” Mr Stensholt said.
“It hasn’t got money for a rainy day or bought significant assets".
Image: Getty
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