Titans investigated for major salary cap breach

[Guest]

Allegations a builder built a 400k house for Scott Prince for free ....

http://www.dailytelegraph.com.au/spo...-1225846107839

THE NRL is investigating an alleged salary cap breach involving Gold Coast Titans skipper Scott Prince.

A special Daily Telegraph investigation has received allegations from a former club sponsor which claims it had an agreement to build Prince a new $400,000 house, free-of-charge.

Both Prince and the Titans have denied the claims through their lawyer.

The full story - including exclusive evidence and documents - will be revealed in tomorrow’s Daily Telegraph.

The NRL this afternoon confirmed it would pass the claims on to salary cap auditor Ian Schubert for investigation.

"We will certainly look into it further but at this stage we've spoken to Michael Searle and he strongly denies any breach of the cap and has offered complete access to the salary cap auditor to examine all accounts,'' NRL chief executive David Gallop said.



"We're always happy in the mean time to receive any information that people wish to bring forward.

[redwhiteandbluester]

Very explosive story if true.

In terms of intent, it is quite sinister. Its not just a mathematical error, giving someone a free house is a deliberate effort to cheat the system.

It'll be interesting to see if the article has any substance, or typical Murdoch sensationalism.

[Guest]

Very explosive story if true.

In terms of intent, it is quite sinister. Its not just a mathematical error, giving someone a free house is a deliberate effort to cheat the system.

It'll be interesting to see if the article has any substance, or typical Murdoch sensationalism.

This may put their negotiations with Mini Mini in doubt, Id have him back in R W and B.

[supermario]

and it would definatly put at risk any negotiations with hannant

[redwhiteandbluester]

This may put their negotiations with Mini Mini in doubt, Id have him back in R W and B.

He would suit the squad very well.

[Guest]

and it would definatly put at risk any negotiations with hannant

Shit so no morman temple on the Gold Coast, where are hannant and his 21 kids going to live?????

[Guest]

What about the free 50k a year of accommodation that Sam Burgess gets from rusty. It is a stupid system

[Burnt Rooster]

Burgess / Rusty

Burgess or no Burgess, if The Mixo's dont start winning, and soon, Rusty will have no problem showing Burgess where the Salvo's Hostel is, make no mistake about that.

Burnt Rooster.

[redwhiteandbluester]

I'm not sticking up for the Rabbits but...

Offering third party deals like this is fine, but it comes under the salary cap - so if Souths pay Burgess $150,000, he is given $50,000 of accommodation, then that is considered $200,000 out of the salary cap but only $150,000 out of souths pocket.

The problem would be if the Titans were paying Prince $350,000 and a sponsor gave him a $400,000 house and only claimed it under the cap as $350,000.

I'm not 100% sure but I think this is the case - third party deals are allowed, but have to be claimed under the $4 million salary cap.

[Chris]

third party deals are allowed, but have to be claimed under the $4 million salary cap.

And this is why it's rediculous!

[Red.]

From NRL.COM

What about money paid from other people or companies?

The basic guide is that if a player is receiving money from any person as a way of inducing him to play for the Club, then that money will be included in the Salary Cap.

Income that a player earns from parties not related to his Club is generally not included in the Salary Cap, however the details of the agreement must be advised to the Club by the player. The Club must then get approval for the agreement from the Salary Cap Auditor in orde r for the Remuneration to be excluded.

In 2006, the NRL also introduced an allowance for players who enter into Third Party Agreements with club sponsors. IN 2007 three of the top six players are allowed to earn up to an extra $50,000 each from sponsorship leveraging but the total payments under these sponsorship leveraging agreements must not exceed $150,000.00 per club.