The Australian Rugby League Commission has taken the unusual step of purchasing a hotel in Brisbane.
A statement on Monday announced the purchase of Gambaro Hotel on the famed Caxton Street, which runs past Suncorp Stadium.
The Gambaro Instagram page describes the venue as a “luxury hotel” and seafood restaurant.
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“The transaction represents the Commission’s first investment to strengthen the game’s financial position and acquire assets that protect the game and provide new revenues for reinvestment in the game,” a statement on Monday read.
“The ARLC has a focus on strengthening its balance sheet with stable, secure investments that provide steady income, long-term capital growth and to protect the game against major interruptions.
“The hotel is ideal for the NRL as it’s located 300 metres from Suncorp Stadium.”
The new owners plan to rebrand the hotel as “NRL” and will rename individual rooms after rugby league legends.
The Gambaro family will continue to operate the restaurant.
The ARLC and NRL had to navigate through the COVID-19 pandemic and the competition was shut down for a number of weeks during the 2020 season.
The governing bodies are moving to safeguard their income in the event of another catastrophe.
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