Daily Archives: March 23, 2012

ORFU position

### ODT Online Fri, 23 Mar 2012
Opinion: Blog: The Analyst
ORFU bailout – the big sausage and mug wash-up
By Rob Hamlin
As the last sausage sizzles itself into silence, it is now possible to examine the merits, if any, of the ORFU rescue extravaganza. As soon as the ORFU started extending its own life just over two weeks ago, it was pretty easy to see that there was about as much chance of the ORFU actually falling off the back of the gravy train as there was of Kate Winslet falling off the back of the Titanic only thirty minutes into the film.

The ORFU’s fiscal position has not been significantly changed by this rescue. It is still insolvent. It still owes more than $680,000 to small creditors. Its ongoing annual deficit to this point is in excess of $600,000, and the only savings that have been identified (maybe) are less than $300,000 in players’ wages. A return to positive cash flow can thus not reasonably be even expected, let alone guaranteed without some major and as yet unannounced development.

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Posted by Elizabeth Kerr

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