As much as I would like to recruit ponga, realistically his asking price would be too much for the risks - maybe try and nab him for his next contract when he has proven the goods.
Like to see us pick up talent at younger age though as question whether recruiting hunt at 27 such a good idea vs say koribete who has just turned 24.
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The main crux of this Hunt/Ponga signing argument boils down to contract management, like anything with a market, people can pay crazy prices and only learn if they made the right call down the track.
For the Reds, they have mad some very poor decisions. But for every bad investment like the return on Hunt's contract, the Reds have won on guys like Kerevi's contract, who on a bargain deal, outpeformed that 10x over. It is very difficult to get it right all the time, and you must take calculated risks.
Is $500k too much for an 18 y.o. Ponga? You will only find out in about 3 years. There is significant risk but if it goes well, the reward is obvious. Hunt at 27, could've been good, but at $600k a season expectations were already sky high. This was a high risk deal made so by the price. What was the probability the Reds were gonna get a Folau type transition? Injuries, off field drama, underwhelming impact on the field have made that a bad contract.
Secondly, you need to sign players that fit your system & gameplan. At the moment, the Ponga deal would be a terrible career move for him. If he was to be put out there, I can imagine him standing idle for long patches every 5-10 mins whilst Slipper and the boys decide to pack another one down. At the back no doubt he would be told to kick it out or back to the other team. The Reds cant string more than 4 phases together so when is he going to get some ball in space? If he wants to play Union, I would undoubtedly advise him to get over to NZ.
The structure and game play at the Reds have hampered Hunt's rugby career as much as any other factor as well and contributed to the poor investment.