More allegations of serious sexual misconduct have once again the potential to seriously damage the NRL's reputation. In a difficult economic environment, allegations of group sex and sexual assault, as made in last night's ABC TV program, Four Corners, may have serious implications for the game's brand and de-tract from the value proposition offered to sponsors of the sport.  Managing such crisis and events that seriously threaten one's reputation is always difficult. Reputation is usually gained over time but can be dashed very quickly.  Great care will now be needed to minimize the consequential loss resulting from the crisis.  Reputational risk management is an area growing in significance in the sport, venues and events industries.  When crisis management is poorly executed it can cripple an organization and its goodwill. An organisation's reputation is arguably its most valuable asset and needs careful nurturing and effective risk management.