News Articles
2 December 1999
Panthers received $9 million from News Ltd
Penrith CEO Mark Levy admits the club received $9 million in funding from News Ltd in 1999 and included the grant as profit.
Levy told Federal Court yesterday the majority of the payment - apparently the last from News Ltd - went towards player salaries.
He also said the club received $4.5 million from News Ltd in 1998 and was granted $1 million from Panthers Leagues Club annually before joining the breakaway competition.
National Rugby League finance manager Edwin Farish earlier admitted South Sydney would have made the 14-team competition - presumably at the expense of Penrith - had $3 million in funding from Souths Juniors been included in the criteria.
Back to Home Page