Sporting Clubs – Board's Financial Responsibility to COVID-19
The Australian Government’s response to COVID-19 to protect Australians is having a significant impact on the public’s ability to attend sporting clubs and their events. The National news headlines report daily the issues currently facing the NRL, AFL, NBA, Super Rugby, A-League and their respective grass roots sports competitions and supporters.
Whilst there remains great uncertainty as to the future duration of Government’s isolation measures, the Boards and Management of these sporting clubs are being required to establish business continuity and contingency plans to manage these situations, protect and preserve their Club’s assets and financial status, as well focusing on the health and well-being of their players, employees, members and other related stakeholders.
At the same time, Boards Members will need to identify and acknowledge their legal obligations as directors, ensuring that duties are not breached, which may give rise to personal liability.
Rodgers Reidy is one of Australia’s largest advisory consultancies, with offices in each State and the Northern Territory, which specialises in corporate and personal insolvency, turn around management and recovery.
We have practical experience in managing and operating Sporting Clubs and Member Organisations, no matter the size, as evidenced by our appointments/advisory roles to the following:-
- the NRL Gold Coast Titans (2015);
- Bowling Clubs, Golf Clubs and RSL Clubs throughout Australia; and
- Sporting Associations.
With a clear understanding of a Sporting Club’s operations and its position in the community, together with understanding its membership and affiliation responsibilities, we are well positioned to assist Boards to discuss the various options available and to assist in establishing, if applicable, the necessary continuity and contingency plans.
For a confidential conversation on the issues currently facing your Club and how Rodgers Reidy may assist your Club going forward, do not hesitate to contact either Andrew Barnden at [email protected] or Paul Gunson at [email protected] or call (02) 9262 1944.