Aussie Pro Rugby
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Melbourne Rebels enter voluntary administration in desperate bid for survival
The state government declined to answer whether it will pay off some of the Rebels’ debt, but confirmed they were aware the club had entered into voluntary administration.
The state government has previously bailed out the Rebels. In 2017, the then-Andrews government entered into a $20 million deal with Rugby Australia to secure the Bledisloe Cup and British and Irish Lions Test matches in Melbourne over an eight-to-10-year period.
That deal ensured the Melbourne team would be retained in the Super Rugby competition.
When concerns over the Rebels’ future were raised in December, club boss Baden Stephenson told this masthead the financial problems were solvable, and that the issues were not unique to the club, but a broader problem across Super Rugby’s five Australian teams.
He pointed to a cut in funding from Rugby Australia due to COVID-19 and the return of Western Force, which reduced the money given to each club from $5.5 million a year to $3.9 million.
He also confirmed that talks had broken down for Rugby Australia to take control of the Rebels.
“We very much were open to having a conversation around the centralisation of the commercial assets of our club. We had one brief conversation … those conversations have ceased for the moment, I don’t think it’s a major priority for Rugby Australia,” he said.
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Super Rugby Pacific club deny voluntary administration status - report
The Melbourne Rebels have denied that they have entered voluntary administration but it could still happen for the cash-strapped Super Rugby Pacific outfit.
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James O'Connor: 'I haven’t been coached like this in a long time'
It's the beginning of a new era for the Reds, as Brad Thorn departs after five years and Les Kiss looks to take the team to the next level.
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@antipodean said in Aussie Rugby:
To think they could've done this years ago and kept the Force.
a team with half decent academy, a billionaire willing to help fund and less competition from half the AFL teams and the storm?....madness!
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@Kiwiwomble said in Aussie Rugby:
a billionaire who had shown zero fucks about rugby to that point, willing to
help fundtake the opportunity to stick it up the eastern statesFIFY
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@NTA said in Aussie Rugby:
@Kiwiwomble said in Aussie Rugby:
a billionaire who had shown zero fucks about rugby to that point, willing to
help fundtake the opportunity to stick it up the eastern statesFIFY
personally i think that says more about how poorly RA had engaged with potential investors, maybe if they had go out to the small market of billionaires to say give us some money or this team will disappear things might have been different
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@Kiwiwomble I'm not saying it's wrong, but lets be clear on Twiggy's reasoning
As I've said before: with all these fucking private school legends involved in the game - good rugby mean, all - why is it in such shit financial state?
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@Kiwiwomble said in Aussie Rugby:
@NTA said in Aussie Rugby:
@Kiwiwomble said in Aussie Rugby:
a billionaire who had shown zero fucks about rugby to that point, willing to
help fundtake the opportunity to stick it up the eastern statesFIFY
personally i think that says more about how poorly RA had engaged with potential investors, maybe if they had go out to the small market of billionaires to say give us some money or this team will disappear things might have been different
you haven't spent much time dealing with people from WA have you? Being chippy about the eastern states is pretty much their entire go.
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@NTA said in Aussie Rugby:
@Kiwiwomble I'm not saying it's wrong, but lets be clear on Twiggy's reasoning
As I've said before: with all these fucking private school legends involved in the game - good rugby mean, all - why is it in such shit financial state?
mainly because they fucked up the broadcast deal. $30m a year doesn't go far.
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@mariner4life should have been an obvious move then! go tap up the richest WA person and give them an opportunity to show up the eastern states!
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I have a story about Twiggy and rugby which goes to show why wealthy people don't become that level wealthy handing out money to others. It's only if there's something in it for them.
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@mariner4life said in Aussie Rugby:
@NTA said in Aussie Rugby:
@Kiwiwomble I'm not saying it's wrong, but lets be clear on Twiggy's reasoning
As I've said before: with all these fucking private school legends involved in the game - good rugby mean, all - why is it in such shit financial state?
mainly because they fucked up the broadcast deal. $30m a year doesn't go far.
Agreed.
Fox offering less wasn't going to fly, either. That negotiation would have been fun
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Rebels board inches towards VA; Rugby Australia appoints Deloitte
Sources said restructuring partner, Jason Tracy, was formally appointed on Friday.
Deliberations over the future of the Melbourne Rebels have moved slowly this the weekend as the embattled rugby union club backed by BRC Capital slides slowly towards administration.
Rugby Australia, which oversees the code, is pushing for the club to remain in the next season – which could be difficult given its precarious financial position.
Now, Street Talk can reveal the Phil Waugh-led RA has hired Deloitte as its own adviser as it navigates the likely collapse of a major franchise. Sources said restructuring partner, Jason Tracy, was formally appointed on Friday.
Of note, Joseph Hayes from Wexted Advisory has been mentioned in several dispatches as the likely administrator; however, the board has also considered PwC’s Melbourne team, sources said.
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No doubt their debt would be more manageable if RA didn't withhold millions over the last few years.
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@antipodean said in Aussie Rugby:
I have a story about Twiggy and rugby which goes to show why wealthy people don't become that level wealthy handing out money to others. It's only if there's something in it for them.
Feel free to share
