Super League secures $57M rescue package from NRL over five years, with Australian league gaining increasing ownership stake.
Amount Raised
$57 Million
Round Type
Venture - Series Unknown
Investors
Description
The NRL is set to provide a $57 million financial lifeline to the cash-strapped Super League over a five-year period, delivering $11.5 million annually. In return, the NRL will gain increasing ownership, starting at 10 percent and growing by 10 percent yearly until reaching 50 percent parity. At least 10 of the league's 14 clubs have reportedly backed the deal, despite initial hesitation over concerns about being overshadowed by the wealthier Australian competition. The rescue package addresses mounting operating losses and dwindling broadcast rights revenue that have left the English competition in financial distress.
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Funding Insights
Based on industry dataSuper League raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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