Sharks not endangered species: Zappia - Sports News - Fanatics - the world's biggest events

Sharks not endangered species: Zappia

By Todd Balym 14/11/2008 06:52:29 PM Comments (0)

Cronulla chief executive Tony Zappia moved to assure fans of the NRL club's future on Friday, saying the Sharks are not broke and will never move from the Sutherland shire.

It was reported on Friday the Sharks were on the brink of insolvency and had sought a bank loan to pay players during the offseason.

Zappia insists the situation is not that dire and quelled fears they would investigate the NRL's multi-million dollar package for relocation to the Central Coast.

"In terms of players not being paid that is incorrect. That is absolutely incorrect," said Zappia.

"It is going to be tight, but other footy clubs are in the same position.

"We have never been one of those top two or three financially strong clubs. We're obviously affected a little bit more than some others.

"I think today running organisations on credit is standard practice.

"Our base for next year is solid. All our majors and top end sponsors are moving forward with us and are on board for next year. Now it is just a matter of going through and seeing if there are areas we can cost save.

"There is certainly no talk of relocation. That is not on any agenda. The club will stay exactly where it is."

Zappia confirmed sponsors, global accountants PKF, had conducted an independent review into the club's finances with a report due prior to Christmas.

But unlike some other NRL clubs, Zappia did not believe cutting funding to junior teams was the answer to Cronulla's financial woes.

"Junior rep teams are certainly part of the livelihood and future of our club. More importantly, the Cronulla Sharks were set up to propagate the game of rugby league and we need to ensure that continues to happen in the future."

While Cronulla battle for every penny the news for NRL premiers Manly was exciting today as the Sea Eagles signed a three-year major sponsorship deal with Quantum Energy Technologies worth more than $2.5 million.

It took the Sea Eagles less than two months to secure the deal as the club continues to reap the benefits of a premiership win.

Quantum specialises in renewable hot water and pool heating systems and the Sea Eagles are boasting they have become the NRL's first team sponsored by a "green" company.

"At a time of much financial gloom it is refreshing that the code and the Sea Eagles in particular can clinch such a significant financial partner," said Manly chief executive Grant Mayer.

"It is a tremendous fit for the club and also makes a statement that we take the issue of climate change seriously".

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