KEY POINTS:
The New Zealand Rugby League is forecasting a $1.25 million loss for the 2007 financial year.
Chairman Ray Haffenden confirmed the figure after the board met last Sunday and continued to work through details this week.
"We still have some issues to resolve but in the interests of our members and our partners, we wanted to move as quickly as possible to provide some clarity about our position," Haffenden said. "There are many reasons for the figure we are looking at but clearly we have suffered in two key areas.
"We lost $400,000 on the centenary test against Australia in Wellington and there has also been a $600,000 shortfall in funding."
Haffenden said the board was confident it was able to manage its way through the predicament.
"The board is comfortable that it can work through this. We have options but we're not in a position to discuss those at the moment," he said.
Haffenden also rejected suggestions the NZRL would need to take extreme action to cover its losses.
"There has been a lot of comment about our position with rumours about us needing to sell our building in Penrose [NZRL House] and also having a huge overdraft," he said. "We can categorically say neither of those claims is accurate."
- NZPA
