NRL gets NZ$264M loan to stop the game falling into financial ruin

The NRL will in coming days secure an NZ$264 million loan which will stop the game falling into financial ruin.

The Coronavirus pandemic has brought the 13-man game to its knees, with the suspension of matches leaving broadcast partners Nine and Foxtel little choice but to skip their quarterly payments a fortnight ago.

The NRL has since reached into its coffers to provide grants to all 16 clubs to keep them afloat but they have now secured a line of credit from a consortium of British banks.

The funds will be used to keep the 16 clubs afloat until games are slated to return on May 28.

[Source: Stuff.co.nz]