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Melbourne Storm stripped of two premierships for salary cap breach

http://www.foxsports.com.au/story/0...from=public_rss

Melbourne Storm stripped of two premierships for salary cap breach
April 22, 2010

Melbourne Storm have been stripped of two NRL premierships and fined a total of $1.6 million after being found guilty of long-term salary cap breaches.

NRL chief executive David Gallop announced they would also not be allowed to accrue any premiership points in the 2010 season.

Gallop said the Storm had been found to have rorted the salary cap by at least $1.7 million over five years.

"They had a long term system of effectively two sets of books and the elaborate lengths they have gone through to cover this up has been extraordinary,'' said Gallop.

While Melbourne lost their titles from the 2007 and 2009 seasons Gallop said neither losing grand finalists Manly nor Parramatta would assume those titles.

The Storm were also stripped of three minor premierships.

"The club has furthermore been fined $500,000 and will be forced to return $1.1 million in prizemoney with the prizemoney being distributed evenly among the other 15 clubs,'' said Gallop.

The investigations revealed the Storm maintained a dual contract system, with the club confirming that side letters promising extra payments were stored in a secret file.

"The most damning indictment is the systematic attempt by persons within the club to conceal payments from the salary cap auditor and, it would now seem certain from the club's board and from its owners, on an ongoing basis,'' Gallop said.

"It was through this system that they were able to attract and retain some of the biggest names in rugby league.

"In doing so they have let down the game, the players and the fans of the Melbourne Storm.''

Gallop added the Storm need to quickly find a way to rectify the situation to have any chance of regaining their status in the competition.

"Certainly by the 2011 season they need to be operating within the salary cap and how they do that I'm not sure at this stage,'' he said.

http://www.foxsports.com.au/story/0...from=public_rss

I hope the bookies don't pay out on any of those bets they took on Storm winning the spoon yesterday. Just ridiculous that anyone should make big money out of what was obviously inside info.

wow..thats amazing news..absolutely flabbergasted!

..where to from here for storm? ..short-term & long-term

..are all other clubs squeaky-clean?

..could this erode away what market the nrl has in victoria?

Quote:

Originally Posted by Sportz

I hope the bookies don't pay out on any of those bets they took on Storm winning the spoon yesterday. Just ridiculous that anyone should make big money out of what was obviously inside info.

Just read Sportingbet has paid out on it, Sportz.

Quote:

Originally Posted by Sportingbet Blog

Sportingbet Australia will pay over $40,000 on the Wooden Spoon after Melbourne Storm were stripped of all their Premiership points. Sportingbet Australia CEO Michael Sullivan said this would change the way Wooden Spoon betting would be done in the future.

“Melbourne has gone from $251 to no betting in the space of six hours which has to be the biggest shortener in betting history,” Sullivan said.

“We will look at the way we bet on the Wooden Spoon in the future as punters and bookmakers alike are betting without all the information.”

“We have refunded all Premiership bets on Melbourne as they are now out of calculations.”

Sullivan said the decision had an enormous impact on betting going forward in 2010 as well.

“This has consequences on match betting throughought the year, as what motivation do the Storm have if they can’t finish anywhere but last,” he said.

I think the roosters might be sweating.

Post deleted. Profanities are not permitted here. 5 days suspension for use of an "f" profanity. Moderator.

Depends who you bet with. Some bookies are giving money back, but as far as I can tell so far, the TAB are not???

I think you will find that any bets on Storm to finish anywhere in the comp will be refunded in time, unlike a horse race where winnings has been paid out, nothing has been paid on those bets and it would be likely that an official response is set from the main wagering body.

The TAB are refunding on premiership betting,centrebet who i'm with are making a decision in the next week

Ohhh okay, I thought it was more like the other way round.