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Posted by RLPA

March 12, 2016

Eels statement re Salary Cap investigation

Parramatta Eels Chief Executive Officer John Boulous said today the club is committed to assisting the NRL’s salary cap investigation.

The following is a statement from John Boulous:

The club is taking the recent reports very seriously and the Board has met at length to discuss the various matters raised.

We have commenced an internal investigation and are also fully committed to assisting the NRL. To ensure the integrity of these investigations we will not be commenting on the specifics at this stage.

In my time as CEO and under the direction of the Board, the club has acted in good faith with the NRL, and we have overhauled and dramatically improved the club’s governance.

We have done this with the assistance of PricewaterhouseCoopers, which made 117 recommendations for reforming the culture of the club.

To date, all 52 mandatory recommendations have been implemented under the agreed plan with the NRL. Other non-mandatory recommendations are also in the process of being implemented.

Our commitment to our fans is to become the most successful sporting and community club in Australia.

Having the highest-quality governance is the foundation for achieving this vision. That’s why we have invested so heavily in improving governance at all levels.

I assure every single one of our Members and fans that the Board and I are utterly determined to continue to drive these reforms.

Our current team is united in this purpose, and we share in the disappointment of our Members and fans that our club has again appeared in the media for the wrong reasons.

I commit to our Members and fans to provide as much information as possible on our reform process.

To this end I can advise that we have:

  • Established a salary cap review committee (mid 2015);

  • Engaged salary cap consultant Ian Schubert to review all matters related to our salary cap compliance (October 2015);

  • Implemented a salary cap forecasting model for all future seasons (October 2015);

  • Resolved to take important PricewaterhouseCoopers recommendations for reform to the Club’s Annual General Meeting in May (January 2016); and

  • Overhauled the club’s sub-committee structure to reflect best practice governance (January 2016).

We are driving these reforms to address the cultural concerns that the NRL has raised about the club and to give our Members and fans the well-administered club they deserve.

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