The extent of the dire state of NRL clubs has been revealed in a top secret report with clubs losing a total of $53.4 million in 2016.
Only the Cowboys and Broncos turned a profit.
The poor old Eels did it the toughest with a loss of $12 million in the wake of a series of huge payer payouts and their salary cap fine.
Premiers Cronulla posted a loss of $600,000 despite winning the comp with Penrith losing $7 million.
The NRL have not yet commented on the report.
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