PLC Administrator Commences Work
Max Donnelly of Ferrier Hodgson has today commenced work as administrator of the Parramatta Leagues Club Limited.
It follows a resolution from the NSW Independent Liquor and Gaming Authority to install a temporary administrator beginning effective immediately until the ILGA board otherwise orders.
“The role is to understand current financial position and I’m comfortable that with the Leagues Club it is sound,” Mr Donnelly said.
“In due course, we have to deal with the management of the football club, and there are some issues there that have been identified like the salary cap.”
“I’m happy to meet anyone and will need to speak to all the parties involved at the club; the current board, sponsors, members will be updated.”
“The restoration of confidence in the club will necessitate a period of review, changes, improvements and very likely a rebuilding and restructure in the way it is governed.”
“It is my intention to remain as open, honest and transparent as possible in my role as administrator, and will be able to provide answers when I have them.”
Donnelly has extensive experience in corporate advisory and turnaround consulting, including Macquarie Radio Network Limited, James Hardie Australia Finance Pty Limited and North Sydney Rugby League Football Club Limited.