The following if fact, APL with the sale of two clubs 50 million, selling Perth & Newcastle between 25 and 35 million, existing club owners putting in [guess] 3 million each, that another 36 million. Assume 85 million + 36 million. that like over 120 million. What could rugby do with 120 million.
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Seems very difficult for the APL to sell new licences for anywhere close to $25m each when they can't find a buyer for two existing teams.
How does expansion here work? Do the clubs own the league now? If so, do they split all or some of the expansion fee? Otherwise, what's their incentive of letting the league expand? It just shrinks the broadcast revenue pie.