Pdub
Norm Smith Medallist
Who?
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North
I created a company owned by Wayne Carey called Carey Promotions Pty Ltd. Wayne contractually sold his Intellectual Property (his identity, likeness etc) to the company for $2. The company then licensed WC's IP to Flying Start (my company) for exclusive exploitation. I then licensed Wayne's IP to North for $400,000 non exclusively.
So Carey got paid $600k out of the salary cap and North then paid another $400k to ricky nixons company outside of the cap that went to a company owned by Carey.