Abbott and Murdoch in April 2013
ABC News 21 August 2013:
Opposition Leader Tony Abbott has taken his federal election campaign back to Brisbane where he promised funding for the Broncos to expand its grounds…...
If elected, Mr Abbott says the Federal Coalition will provide $5 million to build a gym.
"Five million dollars from the Commonwealth towards a $21 million upgrade I think is a relatively modest contribution," Mr Abbott said.
News Corporation and its subsidiaries (including News Ltd and its subsidiaries) continue to have a major share in Brisbane Broncos Limited owning 68.87% as of 30 June 2013.
The Murdoch family reportedly control 38.4% of News Corporation voting stock.
According to the 2013 Half Yearly Report and Accounts submitted to the Australian Stock Exchange, Brisbane Broncos Limited has net assets valued at $26.6 million, total liabilities of $7.8 million, holds cash/cash equivalents of $15.1 million, has consolidated revenue of $19.2 million (including interest revenue of $386,578) and a profit before income tax so far this year of $2.7 million.
So how can a reasonable person not see Abbott's $5 million pledge as a pot sweetener for his most powerful backer?
According to the 2013 Half Yearly Report and Accounts submitted to the Australian Stock Exchange, Brisbane Broncos Limited has net assets valued at $26.6 million, total liabilities of $7.8 million, holds cash/cash equivalents of $15.1 million, has consolidated revenue of $19.2 million (including interest revenue of $386,578) and a profit before income tax so far this year of $2.7 million.
So how can a reasonable person not see Abbott's $5 million pledge as a pot sweetener for his most powerful backer?
* Photograph from Google Images
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