The future of foundation club North Sydney looks as bleak after leagues club boss Jim Henry confirmed funding to the football club would be halved this year.
The drastic cut — down to $350,000 compared to $650,000 last year — means the Bears will struggle to field teams in Premier League, Jersey Flegg, SG Ball and Harold Matthews competitions this year. In essence, the once proud Bears may be forced into the Jim Beam Cup competition for 2006— falling a further rung from the now unlikely dream of an NRL return. “This funding cut makes it extremely difficult for everyone at the club,” said Bears official Greg Florimo. “We need a huge commitment this year from everyone, including the staff, players, board and supporters to get through this season. “I’m working harder than ever at securing sponsorship dollars and we are also looking at all forms of fund- raising we can muster. “Compared to the budgets NRL teams put into their Premier League teams, it’s certainly going to be tough but Id like to think we offer an opportunity.”
Leagues club general manager Henry said the club was still paying off debts accrued by the football club.
“We are also still picking up some liabilities involved with the Central Coast Bears and that was an exercise that cost us well in excess of $1 million,” Henry said.
“There’s also the poker machine tax that will see us fork out more than $600,000 to Macquarie Street, so something has got to give. We’ve got to live within a budget and the football club has known about the funding cuts for a long time.”