Sharks’ cash woes as six stars take half
The Sharks are in the midst of a salary cap crisis and are already over their cap for next season.
Phil Rothfield revealed the Sharks are over their cap for 2020 despite letting a number of young players go recently, including Jayden Brailey to the Knights and Kyle Flanagan to the Roosters.
"The Sharks are already over the cap for next year and they haven't had an off-season," Rothfield told Controversy Corner.
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"Paul Gallen is not on a lot of money this year so his retirement won't help. He had his big money contracts earlier in his career.
"So they don't have a problem this year, but they have lost Jayden Brailey, Kyle Flanagan and Gallen is retiring and they are still over their cap for next year."
Rothfield revealed the Sharks are paying half their cap for next season to just six players.
"Shaun Johnson, Andrew Fifita, Aaron Woods, Wade Graham, Josh Dugan and Matt Moylan, if you add their penalty of 350k they take up more than half the cap," Rothfield said.
"Then you have another 24 players to feed."
Manly legend Geoff Toovey believes the Sharks are experiencing the backlash from their win now approach to their salary cap management.
"This goes back to what I was saying about everyone wants success now," Toovey said.
"They had some great players coming through and they just recently signed Moylan, Woods and Johnson.
"They paid all this money for these guys coming in and they let that next crop of juniors go.
"Everyone wants to win now and they don't want to wait three years time."
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Rothfield pointed to the Roosters' method of staggering their salary cap among their best players as the blueprint for successful salary cap management.
"The bottom line is you have to stagger your cap," Rothfield said.
"The Roosters have Cooper Cronk as their highest paid player on a million dollars. James Tedesco is their best player and should be their highest paid.
"Cronk is retiring and then Tedesco will become their highest paid player. Then Latrell Mitchell will go up a little bit.
"What they have done is stagger their cap."