Parramatta. Doubt on leagues club's future

The Parramatta Leagues Club has current liabilities of $31.6 million, With assets valued at $3.6 million, the shortfall is $28 million, which PKF auditor, Paul Cheesman, said cast doubt on the ability of the club and its affiliates to continue as a going concern. The club lost a record $9.1 million last year. The Daily Telegraph reports that CEO, Denis Fitzgerald has sold properties worth $5.6 million. Last weekend, the club sold the Two Blues Rugby clubhouse for $3 million to the Australian Kfarsghab Association, which seeks control of the board, under the rebel 3P ticket, at elections this weekend.