Osborne finances split Eels board

Parramatta Eels director and head of the club’s major sponsor Pirtek, Glenn Duncan has quit his post at the club amid reports of financial irregularities relating to chief executive Paul Osborne.

Tensions reached boiling point on Monday when the Eels board failed to take action against Osborne over $35,000 in unauthorised expenditures. According to Osborne the debts are a result of his wife using the company card.

Thought to be still indebted to the club, Osborne borrowed $9,500 from chairman Roy Spagnolo.
Osborne remains adamant he had not paid back any of his debts to the club with the money he “personally” borrowed from Spagnolo.

According to The Sydney Morning Herald, Duncan’s dismay at Osborne and Spagnolo’s dealings were brought up at club meeting on October 6.

Duncan is said to have asked Spagnolo if he had ever loaned money to Osborne and if so, why he had not immediately declared a conflict of interest.

Four days after the meeting, Spagnolo sent a confidential email to Parramatta board members informing them he would not be partaking in dealings with Mr Osborne on an official level.

“At his request, and using my own resources, I advanced Paul monies not all of which have been repaid,” he wrote.

“Having reflected on the matter, and in the interest of probity,” Spagnolo said he would not deal with “Paul’s future employment while Paul is personally indebted to me”.

Last year, Osborne was charged with shoplifting by police after he walked out of a Woolworths store without paying for $49.18 worth of groceries. The former police officer was adamant he simply “forgot” to pay on that occasion.

Of more immediate concern to Osborne, a Hillsong Church member, is the internal investigation surrounding his relationship with an employee.

Officials met with a young female employee who was allegedly confronted by Osborne and the colleague for “gossiping” about their relationship.

Spagnolo said the issue had been dealt with by the board and did not wish to make further comment on the matter.

While Duncan didn’t elaborate heavily on the Osborne matter, he did offer a statement detailing the reasons behind his decision to quit the Eels board.

“The recent decisions of the board go against all my business principles which place me in a position of no longer being able to meet my expectations and duties as a director.”