WARRINGTON Wolves chief executive Andy Gatcliffe has rubbished reports the club could face financial difficulty as a result of the ongoing image rights issue.

Several Super League clubs may be hit by large bills in retrospective payments, as the Inland Revenue looks to clamp down on a tax loophole used by clubs.

Gatcliffe confirmed this would be a substantial sum in Wolves’ case, which the Warrington Guardian understands could be up to £½m.

Some players could also face pay cuts as a result of the change in arrangements.

It has become common practice for clubs to pay a proportion of certain players’ salaries in image rights, particularly in the case of high-profile overseas recruits.

While perfectly legal, the image rights payments provide tax breaks for the players and National Insurance exemptions for the clubs.

But Gatcliffe insisted the club remained in good shape and dismissed rumours coming out of Australia that Wolves were already looking to offload scrum half Michael Monaghan in the wake of the taxman’s action.

He said: “It’s pure speculation on behalf of the fans and the media that is driving the rumours about players.

“The image rights issue does affect the overseas players, one of whom is Michael Monaghan, but there is nothing more to it.

“The situation is driven by the Inland Revenue and obviously, the players aren’t happy about the situation but there’s not a lot we can do about it as a club.

“We are working to find solutions and, as and when further discussions need to be held with the players, we will do that.

“The RFL are still in negotiotiations with the Inland Revenue on our behalf.

“It’s a large sum that we are going to have to negotiate with the taxman when it comes round.

“But all the drama that this is the reason why we sold Martin Gleeson is nonsense. The club is in good shape.”

Gatcliffe also urged supporters to get behind the team at Bradford today, as they go looking to bounce back from two defeats over Easter.

He said: “We need our loyal fans on board to help us break the current streak. We’ve had a couple of defeats but we are positive it can be turned round.”

Wolves supporters can claim a free flag if they buy a Bradford ticket from the club’s Wolfware shop. Tickets for the game are priced at £17 for adults and £10 for concessions and juniors.