The Cronulla Sharks are set to announce one of the biggest financial turnarounds in not just the club's history, but the recent history of the competition.
In 2019, the club posted a massive loss of $5.45 million, but with even the challenges of COVID-19, the Sharks recorded a profit of $57,000 over the past year.
Cronulla's chief executive Dino Mezzatesta told the Sydney Morning Herald that this was a great result for the football club, and ensured the Sharks would stay afloat for the years ahead.
"Even if you take away the increased NRL grant and JobKeeper subsidies, we were still going to be in the red, so we've put together a fairly comprehensive remediation plan," he said.
https://t.co/bADov6zzlg Long considered one of the NRL’s financial strugglers, the Sharks are poised to announce one of the biggest bottom line turnarounds of any club in recent history.
— SMH Sport (@SMHsport) February 17, 2021
"We worked with our key sponsors from day one and made sure we were in touch with them about their business and their requirements and our business and our requirements.
"You put all that together and you get this end result, which is impressive... This makes sure we're sustainable and we're very proud of the result."
The @Cronulla_Sharks are set to announce global courier and package company @Aramex as their new major sponsor. A huge win in current financial climate. @telegraph_sport
— David Riccio (@DaveRic1) January 27, 2021
The Brisbane Broncos posted a loss of $470,000 after a dismal year in 2020, with news both on and off the field producing a forgettable season at Red Hill.
The club played away from their home ground at PointsBet Stadium due to refurbishment, but the Sharks will aim to to return in 2022.
