Brian Waldron receives a huge golden handshake from Melbourne Rebels

[travelling_gerry]

Brian Waldron receives a huge golden handshake from Melbourne Rebels

By Nick Tabakoff
April 28, 2010 Shamed former Melbourne Storm chief executive Brian Waldron will receive a $275,000 golden goodbye from Melbourne's new Super 15 rugby union franchise the Rebels after departing just eight weeks into his term as CEO.
It is understood Waldron was being paid $550,000 a year in his new job at the Rebels, which he joined in February after announcing his departure as Storm CEO in January.
Waldron's contract contained a clause that allowed for a period of six months notice on either side. The deal means that after his sudden departure last week he received a termination payout of $275,000.
Once his salary is taken into account, the total amount he received for his two months work is understood to be in excess of $320,000.
Sources close to the club said Waldron's departure was a "resignation by mutual agreement" which triggered the hefty payout.
Rebels chairman and prominent media figure Harold Mitchell said: "I have no comment other than his payout was in line with his contract and normal commercial practice."
It is understood Rebels directors asked their auditors to scrutinise the club's books in the wake of the controversy. They are believed to have found no reason not to make a full payout.
The revelation came on another day of high drama at the Storm during which John Hartigan - chairman and chief executive of the club's owner News Limited - addressed the players, telling them to come clean with any anomalies they knew of at the club.
Sources at the meeting said Mr Hartigan told the players they had his support, provided they had not done anything wrong.
He told the players he would support them "100 per cent" provided they were "absolutely in the clear", but stressed this support was conditional on the fact that the players had to be "straight" with him.
At one point in the meeting, Storm captain Cameron Smith spoke passionately about the fact that through no fault of their own the players were being punished.
Mr Hartigan replied that "everyone" associated with the club was being punished for the actions of a few, including the fans and News Limited, which had invested millions in the development of rugby league in Victoria.
There was also discussion about the lack of incentive for Storm players competing for no points this year. "At the moment, you're playing for honour, you're playing for teammates and you're playing for pride in the jersey," Mr Hartigan was reported as saying.
Earlier, Mr Hartigan described Mr Waldron as the "chief rat" in the alleged salary cap rorts.
Mr Waldron was offering no comment yesterday but told A Current Affair outside his house that he would tell his full story "in due course".



http://www.foxsports.com.au/story/0,...002381,00.html

[zimeric]

the Rebels should send the bill to Gallop

[Hoolly Doolly]

I think Waldrons been made a bit of a scapegoat for News Ltd.
If any evidence comes out that News Ltd were fully aware or directed Waldron to partake in the acts he did , the story could get bigger.

[sandgroperrugby]

How can $2 million go missing without the owners knowing or even investigating it?

Gee aren’t News LTD prime targets for embezzlers if that is the way they run their business!

[jargan83]

the Rebels should send the bill to Gallop

Explain?

How can $2 million go missing without the owners knowing or even investigating it?

While cash is one of the issues, another is products donated by sponsors which must be declared under the rules of the salary cap. $30,000 vouchers handed over by Harvey Norman, Boats, Cars etc etc

[sandgroperrugby]

Yeah I remember watching that Blue Chips college basket ball movie from America to see how it all worked.

[zimeric]

Explain?

Well Union has nothing to do with the Salary caps of NRL players, but by outing the Storm in this manner He/they have forced the Rebels hand.

I know i wouldnt like a dent of $200 000 in my coffers when im in the middle of recruitment negotiations.

[beige]

So he should have to pay out for punishing the Storm for cheating?

[shasta]

I know i wouldnt like a dent of $200 000 in my coffers when im in the middle of recruitment negotiations.

Rather continue with a dodgy CEO? They should send the NRL a thank you note for exposing him early in the piece.

[jargan83]

Well Union has nothing to do with the Salary caps of NRL players, but by outing the Storm in this manner He/they have forced the Rebels hand.

I know i wouldnt like a dent of $200 000 in my coffers when im in the middle of recruitment negotiations.

Waldron jumped ship from the Storm knowing this would be exposed eventually

[Burgs]

Nice work if you can get it, turned $550,000/year into $1,920,000/year!
I think he is going to need to stretch that $320,000 out a fair way though!

"There was also discussion about the lack of incentive for Storm players competing for no points this year. "At the moment, you're playing for honour, you're playing for teammates and you're playing for pride in the jersey," Mr Hartigan was reported as saying."
Well no, you are actually playing for the $700,000 cap breach payments for this year that you happily signed on for.

[beige]

Payout's the first real bit of negative press the Rebel's have received out of all this I think...

[zimeric]

its a total beat-up

they found nothing wrong with what hes done so far for them, they cannot fire him and therefore the pay-out had to be sorted out...as it was in his contract..
if they couldve withheld that money they wouldve..

aaaaarrr sensationalist media crap article!!

[jargan83]

Always good to have a CEO of the newest Rugby franchise to be the subject of possible Fraud investigations

I will go out on a limb and speculate that he never revealed any of this during the inTerview for the Rebels position

[beige]

Always good to have a CEO of the newest Rugby franchise to be the subject of possible Fraud investigations

EX!