Themis
25-01-09, 07:00 AM
Craig Wing admits financial woes
By James Hooper | January 25, 2009
EXPECT nothing. Blame no-one. Do something. The creed plastered all over South Sydney's new training base at Redfern Oval seems to ring true for Craig Wing.
Last month, there were suggestions an off-shore investment scheme in Vanuatu had cleaned out the South Sydney star to the tune of $1million.
Then the eastern suburbs began buzzing about Wing being prepared to commit the ultimate sin by turning his back on Souths and returning to arch-rivals the Sydney Roosters.
For the Rabbitohs faithful, whose veins flow red and green, this would have been an act of sacrilege - the equivalent to serving cold rabbit stew through the streets of Redfern.
In his first interview since it emerged he may have lost $600,000 in a golf resort in Vanuatu 18 months ago, Wing confirmed he had bumped into Sydney Roosters chairman Nick Politis - socially.
But the Rabbitohs utility denied blowing $1million in a get-rich-quick Pacific Islands resort scheme. And said poor stock market prospecting on the advice of friend Rodney Prestia had been exaggerated.
In a move that set tongues wagging, Wing met Politis at a mutual friend's birthday party in the eastern suburbs late last year. Wing is adamant it was a co-incidental encounter.
"I have met Nick a couple of times since I left the Roosters,'' Wing said.
"To be honest, it allowed me to see Nick in a totally different light because there was no more an employee-employer relationship there.
"We never spoke about me returning to the Roosters. I'm at South Sydney now and I'm committed to South Sydney. I was at the Roosters for eight years of my life so of course I still have a lot of friends there. But me seeing those friends doesn't mean I'm trying to go back there.
"The reason I've been reluctant to talk is because I haven't really been able to be part of the team for a lot of the pre-season.
"I've had surgery and I've been in rehab, so as far as having anything to say about football and the year ahead there isn't much there. It's been a frustrating pre-season.
"But I'm committed to getting on the field for the start of the year and playing well for Souths.''
Financially, Wing is riding the beast that is the global credit crunch - with his fingers crossed. If he hits the jackpot, happy days. If he doesn't, it's back to the drawing board.
Wing's financial affairs moved into the world of high-risk, calculated prospecting around the time he sacked his long-term agent Steve Gillis in Juneof 2007.
The former NSW and Australian utility then brokered his own deal after phoning Russell Crowe, signing on for $1million over four years with Souths.
But there was more to the deal than meets the eye. Through Crowe, Wing negotiated a $100,000-a-year third-party deal with real estate agent John McGrath. Interestingly, McGrath was once considered part of the Roosters' inner sanctum. In his book, You Don't Have To Be Born Brilliant, McGrath claimed to have played for the Bondi Junction club. Strangely, the records show no signs of this.
The catch with the McGrath-Wing deal was the Rabbitohs five-eighth had to show up to McGrath's Rushcutters Bay offices for four hours a week.
He showed up for the first fortnight, then flagged it. So the deal with McGrath was cancelled.
At the same time, Wing changed agents three times. First he was with the controversial Gavin Orr. Then his close friend and Century 21 Double Bay real estate agent Prestia stepped in. According to several NRL players, Prestia is the man who gave Wing poor investment advice.
The pair's relationship has since become strained, with Wing calling in the highly respected Wayne Beavis to clean up the mess.
Beavis is seen as a fixer for clients with financial problems. Today, despite having earned around $3million over the past decade through NRL contracts alone, some people will tell you Wing is close to broke.
But the former Cleo Bachelor of the Year remains adamant this is a gross exaggeration.
"Not at all in any way or shape. I've got a lot of things going on,'' Wing said. "Yes, I was affected by high interest rates and that did put a bit of a squeeze on me in terms of my investments.
"Yes, I lost a little bit of money on the stock market, like a lot of other people who have invested in what has been a difficult period over the past 18 months. But no, I haven't lost millions of dollars like it's being suggested.''
With his rock star image, Wing has always been well connected. As one of the favourite sons at Bondi Junction when the Roosters won the premiership in 2002, he would regularly rub shoulders with Sydney's A-list.
By joining Souths, Wing effectively switched the power set he rolls with. At the Roosters, it was Politis and Mark Bouris. But on June 21, 2007, the day he cast his eye 6km inland to Redfern, where the lure of Hollywood had become simply too good, Wing officially cooked himself with the Roosters.
He didn't just burn the bridge, he blew it up. A gala parade at a press conference with Crowe and co-owner Peter Holmes a Court was just spitting into the wind - at the Roosters.
Politis branded him a show pony and suggested it was distasteful to the Roosters' supporters and sponsors. Wing felt the backlash. But he soon gained another high-profile mentor.
Radio broadcaster Alan Jones, a lifelong Souths supporter, became Wing's new godfather. Another powerful connection is Brian Walsh at Foxtel, where Wing secured a new contract.
When we contacted Politis about suggestions Wing had personally telephoned him about returning to the Roosters, he declined to comment. Wing denied such a move.
South Sydney chief executive Shane Richardson, who is said to be well versed in Wing's current financial predicament, dismissed the notion.
"I don't believe at any stage Craig has approached or been approached about going back to the Roosters,'' Richardson said.
On the field, Wing has a watershed year ahead. After an injury-ruined 2008, this is the year when he must deliver for Souths. Last year started dreadfully when he wrecked his shoulder in round one against the Roosters. It ended on an equally sour note when his Bronte home was robbed of $80,000 worth of goods while he slept.
The question remaining now is where will the Rabbitohs play Wing this year? He signed because he wanted to play in the halves. But with Chris Sandow and John Sutton shaping as Souths' early-season playmakers, Wing may find himself back at hooker.
Expect nothing. Blame no-one. Do something. Provided he sticks to the Rabbitohs creed, Craig Wing can emerge out the other side.
By James Hooper | January 25, 2009
EXPECT nothing. Blame no-one. Do something. The creed plastered all over South Sydney's new training base at Redfern Oval seems to ring true for Craig Wing.
Last month, there were suggestions an off-shore investment scheme in Vanuatu had cleaned out the South Sydney star to the tune of $1million.
Then the eastern suburbs began buzzing about Wing being prepared to commit the ultimate sin by turning his back on Souths and returning to arch-rivals the Sydney Roosters.
For the Rabbitohs faithful, whose veins flow red and green, this would have been an act of sacrilege - the equivalent to serving cold rabbit stew through the streets of Redfern.
In his first interview since it emerged he may have lost $600,000 in a golf resort in Vanuatu 18 months ago, Wing confirmed he had bumped into Sydney Roosters chairman Nick Politis - socially.
But the Rabbitohs utility denied blowing $1million in a get-rich-quick Pacific Islands resort scheme. And said poor stock market prospecting on the advice of friend Rodney Prestia had been exaggerated.
In a move that set tongues wagging, Wing met Politis at a mutual friend's birthday party in the eastern suburbs late last year. Wing is adamant it was a co-incidental encounter.
"I have met Nick a couple of times since I left the Roosters,'' Wing said.
"To be honest, it allowed me to see Nick in a totally different light because there was no more an employee-employer relationship there.
"We never spoke about me returning to the Roosters. I'm at South Sydney now and I'm committed to South Sydney. I was at the Roosters for eight years of my life so of course I still have a lot of friends there. But me seeing those friends doesn't mean I'm trying to go back there.
"The reason I've been reluctant to talk is because I haven't really been able to be part of the team for a lot of the pre-season.
"I've had surgery and I've been in rehab, so as far as having anything to say about football and the year ahead there isn't much there. It's been a frustrating pre-season.
"But I'm committed to getting on the field for the start of the year and playing well for Souths.''
Financially, Wing is riding the beast that is the global credit crunch - with his fingers crossed. If he hits the jackpot, happy days. If he doesn't, it's back to the drawing board.
Wing's financial affairs moved into the world of high-risk, calculated prospecting around the time he sacked his long-term agent Steve Gillis in Juneof 2007.
The former NSW and Australian utility then brokered his own deal after phoning Russell Crowe, signing on for $1million over four years with Souths.
But there was more to the deal than meets the eye. Through Crowe, Wing negotiated a $100,000-a-year third-party deal with real estate agent John McGrath. Interestingly, McGrath was once considered part of the Roosters' inner sanctum. In his book, You Don't Have To Be Born Brilliant, McGrath claimed to have played for the Bondi Junction club. Strangely, the records show no signs of this.
The catch with the McGrath-Wing deal was the Rabbitohs five-eighth had to show up to McGrath's Rushcutters Bay offices for four hours a week.
He showed up for the first fortnight, then flagged it. So the deal with McGrath was cancelled.
At the same time, Wing changed agents three times. First he was with the controversial Gavin Orr. Then his close friend and Century 21 Double Bay real estate agent Prestia stepped in. According to several NRL players, Prestia is the man who gave Wing poor investment advice.
The pair's relationship has since become strained, with Wing calling in the highly respected Wayne Beavis to clean up the mess.
Beavis is seen as a fixer for clients with financial problems. Today, despite having earned around $3million over the past decade through NRL contracts alone, some people will tell you Wing is close to broke.
But the former Cleo Bachelor of the Year remains adamant this is a gross exaggeration.
"Not at all in any way or shape. I've got a lot of things going on,'' Wing said. "Yes, I was affected by high interest rates and that did put a bit of a squeeze on me in terms of my investments.
"Yes, I lost a little bit of money on the stock market, like a lot of other people who have invested in what has been a difficult period over the past 18 months. But no, I haven't lost millions of dollars like it's being suggested.''
With his rock star image, Wing has always been well connected. As one of the favourite sons at Bondi Junction when the Roosters won the premiership in 2002, he would regularly rub shoulders with Sydney's A-list.
By joining Souths, Wing effectively switched the power set he rolls with. At the Roosters, it was Politis and Mark Bouris. But on June 21, 2007, the day he cast his eye 6km inland to Redfern, where the lure of Hollywood had become simply too good, Wing officially cooked himself with the Roosters.
He didn't just burn the bridge, he blew it up. A gala parade at a press conference with Crowe and co-owner Peter Holmes a Court was just spitting into the wind - at the Roosters.
Politis branded him a show pony and suggested it was distasteful to the Roosters' supporters and sponsors. Wing felt the backlash. But he soon gained another high-profile mentor.
Radio broadcaster Alan Jones, a lifelong Souths supporter, became Wing's new godfather. Another powerful connection is Brian Walsh at Foxtel, where Wing secured a new contract.
When we contacted Politis about suggestions Wing had personally telephoned him about returning to the Roosters, he declined to comment. Wing denied such a move.
South Sydney chief executive Shane Richardson, who is said to be well versed in Wing's current financial predicament, dismissed the notion.
"I don't believe at any stage Craig has approached or been approached about going back to the Roosters,'' Richardson said.
On the field, Wing has a watershed year ahead. After an injury-ruined 2008, this is the year when he must deliver for Souths. Last year started dreadfully when he wrecked his shoulder in round one against the Roosters. It ended on an equally sour note when his Bronte home was robbed of $80,000 worth of goods while he slept.
The question remaining now is where will the Rabbitohs play Wing this year? He signed because he wanted to play in the halves. But with Chris Sandow and John Sutton shaping as Souths' early-season playmakers, Wing may find himself back at hooker.
Expect nothing. Blame no-one. Do something. Provided he sticks to the Rabbitohs creed, Craig Wing can emerge out the other side.