From memory it was Brad Mellon who was the CEO of the Western Reds that disputed that the club was in debt and inferred that the club was actually in a heathy condition with the cavette being if it was forced to continue to pay visiting teams airline bills then it would fold.Can you elaborate on that? The History of Rugby League Clubs book says (repeated by Wikipedia):
'the crushing $10 million debt that hung over the club (from having to pay the airfares for all visiting teams) at the end of the season led to Super League axing the Perth Reds on 1 October 1997.'
I'm going purely off memory on this one which is 25 years ago so i very well maybe be incorrect here.