South Sydney has released a statement regarding the NRL’s determination of their salary cap position for the next 18 months following the recent retirement of star centre Greg Inglis.
On Thursday night, the NRL confirmed Souths will include around $500,000 in their cap for 2019 (based on Inglis’ earnings before his retirement this year), although they’ll have $300,000 to spend before June 30.
The NRL will also determine what impact this has on their 2020 cap later in the year, but the Bunnies could have as much as $900,000 available next season.
South Sydney’s statement can be read in full below.
The South Sydney Rabbitohs accept the NRL’s determination on the Club’s salary cap position for the 2019 and 2020 seasons following the retirement of Greg Inglis.
The NRL has determined that any payments made to Inglis in 2019 in his new off-field roles will be included in the Club’s 2019 salary cap. A determination will be made later this year on the amount to be included in the Club’s 2020 salary cap based on what Inglis will be paid in 2020 over and above the expected wage for the roles he will be doing. The NRL has given the Club a preliminary indicative value of $100,000 to be included in next year’s salary cap for planning purposes, however this is to be finalised later this year.
The Club believes it mounted a strong case that none of Inglis’ post-career salary should be included in the 2019 or 2020 salary caps, however the Club is supportive of the transparent and exhaustive process the NRL undertook in coming to their decision and looks forward to a consistent approach being taken in the future.