Tweet
Three of the game’s most powerful figures are weighing up their futures on the game’s investment committee after being left stunned by the ARL Commission’s decision to buy the iconic Gambaro’s hotel and restaurant in Brisbane.
News Corp understands that Broncos chair Karl Morris, Sydney Roosters boss Nick Politis and South Sydney supremo Nick Pappas were caught off guard on Monday when the commission announced it had entered the hotel and restaurant game.
It is understood the commission spent upwards of $25 million on Gambaro’s, which is located a stone’s throw from Suncorp Stadium and is set to be themed as an NRL hotel with rooms named after legendary players.
The investment committee was set up several years ago to drive the NRL’s financial direction and investment strategies, future-proofing the code against financial disaster.
The committee was headed by commissioner Gary Weiss but included some of the most influential business figures in clubland, giving the NRL access to their financial expertise.
Politis is one of the richest men in the country, Morris is the chief executive and managing director of stockbroking firm Ord Minnett and Pappas helped save Souths from the financial scrap heap.
Yet sources close to all three revealed they were largely kept in the dark when it came to the commission’s multimillion-dollar decision to invest in a hotel and restaurant.
They are believed to be considering their future involvement in the committee as a result.
News Corp understands that Broncos chair Karl Morris, Sydney Roosters boss Nick Politis and South Sydney supremo Nick Pappas were caught off guard on Monday when the commission announced it had entered the hotel and restaurant game.
It is understood the commission spent upwards of $25 million on Gambaro’s, which is located a stone’s throw from Suncorp Stadium and is set to be themed as an NRL hotel with rooms named after legendary players.
The investment committee was set up several years ago to drive the NRL’s financial direction and investment strategies, future-proofing the code against financial disaster.
The committee was headed by commissioner Gary Weiss but included some of the most influential business figures in clubland, giving the NRL access to their financial expertise.
Politis is one of the richest men in the country, Morris is the chief executive and managing director of stockbroking firm Ord Minnett and Pappas helped save Souths from the financial scrap heap.
Yet sources close to all three revealed they were largely kept in the dark when it came to the commission’s multimillion-dollar decision to invest in a hotel and restaurant.
They are believed to be considering their future involvement in the committee as a result.
Comment