Melbourne Rebels 2024

[SouthernX]

Unless something has changed it was a 2 year deal when he signed it

Interesting - all I’ve read is no rebels player is signed past 2024. I also recall a it being a 1 year deal

 

[Strewthcobber]

That’s impressive, do they own property?

I believe lot of it is financial smoke and mirrors associated with their lease at Daceyville (they don't have to pay their lease for X number of years?)

 

[LeCheese]

Interesting - all I’ve read is no rebels player is signed past 2024. I also recall a it being a 1 year deal

Always been a two-year deal - that reporting of 'no player signed past 2024' was seemingly incorrect.

In one of the most exciting announcements in Club history, Tupou will arrive in Melbourne at the completion of the 2023 Harvey Norman Super Rugby Pacific season and will remain a Rebel until at least the end of 2025.

 

[Wilson]

Interesting - all I’ve read is no rebels player is signed past 2024. I also recall a it being a 1 year deal

Plenty are signed beyond 2024, maybe half the squad. No players or staff are signed beyond 2025 though - which is most of the reporting I've seen.

 

[PhilClinton]

Always been a two-year deal - that reporting of 'no player signed past 2024' was seemingly incorrect.

LSL (Lukhan Salakaia-Loto) also signed a 2 year deal until end of 2025.

 

[SouthernX]

My mistake then guys… front page should be the proof in the pudding… now seeing heaps of 2025 next to the names of rugbyreg first post.

gee it’s going to be open season if rebels fold and the other 4 provinces lurking like vultures!

 

[stoff]

The Tahs have $24m of assets (at least they did in 2022 - if their public accounts are real). RA's balance sheet will be better off after absorbing the total equity.

The Rebels don't have assets, RA's balance sheet can't absorb the negative equity

Looks like $10.9m of current and $186k of non-current. Thats against $7.5m of current liabilities (2022 reports). I'm assuming they didn't need a bail out because they had $3m cash in the bank, so looks like they've been torching cash at a rapid pace also.

 

[Tomikin]

A lot are very open to the idea of cutting them, there is always a push to reduce the sides even before this. I don’t think those who are pushing the we were best with three sides are proposing that we cut the reds and Tahs but I could be wrong on that front.

The Rebels maybe the side RA can’t afford but Melbourne is the market they can’t afford to lose and while they may try and say it will have no impact on the pathways they will either live together or die together.

I don't think you find someone in these thread's suggesting we cut the Rebels; I hope that they do everything in their power to save them.

Obviously, there have been a few donkeys in the media who have said they want to cut teams, but I think it's a very outlier thought. Some of which I think are just to get more clicks.

Good luck for the season, hope you have a terrible start and get thumped by the Brumbies and then have a great season.

 

[Adam84]

I believe lot of it is financial smoke and mirrors associated with their lease at Daceyville (they don't have to pay their lease for X number of years?)

That’s not smoke and mirrors, it includes right of use, and long term leases are an asset and one you can also sell, as the Brumbies did with their lease at UC.

 

[Strewthcobber]

That’s not smoke and mirrors, it includes right of use, and long term leases are an asset and one you can also sell, as the Brumbies did with their lease at UC.

Sure, but there's a matching non-current lease liability on the Tah's books which balances out the asset.

I guess my point is there isn't much point talking about "debt" without talking about assets too - and vice versa

 

[stoff]

That’s not smoke and mirrors, it includes right of use, and long term leases are an asset and one you can also sell, as the Brumbies did with their lease at UC.

There are two entities - NSWRU Limited which has the lease on their books, and Waratahs Limited which had essentially no non-current assets and is the entity which seems to have come under the management of RA.

 

[The Honey Badger]

The is no press suggesting there is a life support from a private investor, the VIC Government or RA. If there was we would all know about it as someone at RA likes conveniently leaking the headlines. I think we all do our bit by turning up to games and showing our support because the rest we can’t control. The auditors will determine the Rebel’s fate. As disappointing as it is they have pulled together the best team in their short history and I personally will miss my walks with my dogs to watch them train during the week. My wife and I, and sometimes my kids jump on a plane for their away games so we can have a weekend away. We plan our trips back to NZ around the games so I can catch up with my old team mates and family. Life won’t be the same if they are dropped. Let’s just enjoy it while we can.

My understanding is the License is now the property of RA. RA wanted to own all the franchises under the guise of centralisation. RA will determine their fate - The Auditors will be chasing the old board of directors for money

 

[Tazzmania]

Rugby Victoria now facing questions over missing financial documents

Rugby Victoria has filed just one annual report to the consumer regulator since it took control of the Melbourne Rebels in 2017 – the same year it admitted the Super Rugby club was bleeding millions, and there was “significant doubt” it could continue operating as a going concern.

The governing body of rugby in Victoria – which owned the debt-riddled Super Rugby franchise until it entered into voluntary administration last month – could not explain why it had failed to submit any annual reports to Consumer Affairs Victoria since 2018, despite being legally required to do so....

The rest behind a paywall at The Age

 

[Slim 293]

Rugby Victoria now facing questions over missing financial documents

Rugby Victoria has filed just one annual report to the consumer regulator since it took control of the Melbourne Rebels in 2017 – the same year it admitted the Super Rugby club was bleeding millions, and there was “significant doubt” it could continue operating as a going concern.

The governing body of rugby in Victoria – which owned the debt-riddled Super Rugby franchise until it entered into voluntary administration last month – could not explain why it had failed to submit any annual reports to Consumer Affairs Victoria since 2018, despite being legally required to do so....

The rest behind a paywall at The Age

WAAAAAAUUUUUUGGGGGGGHHHHHH!!!

The six-year administrative failure was uncovered after this masthead made a request to Consumer Affairs Victoria for Rugby Victoria’s annual reports on Friday. The regulator soon contacted the organisation to chase the missing documents.
Consumer Affairs Victoria has been unable to explain what appears to be a massive governance failure, and declined to respond to detailed questions about how this oversight was possible.

Rugby Victoria president Neil Hay was adamant that all the required annual reports and financial statements had been completed, but could not explain why they had not been submitted to the regulator.

 

[Crashy]

oh god.

 

[Braveheart81]

Not defending Rugby Victoria here but my guess around the level of compliance of incorporated associations lodging annual financial statements with the relevant body (Consumer Affairs Victoria, NSW Fair Trading etc.) would be close to zero.

 

[Crashy]

but a $20 million turnover business? ( Or whatever the revenue is)

 

[Mick The Munch]

but a $20 million turnover business? ( Or whatever the revenue is)

Did RV withhold these figures from RA?

 

[Braveheart81]

but a $20 million turnover business? ( Or whatever the revenue is)

They're not. Rugby Victoria is not Melbourne Rebels Pty Ltd.

 

[Mick The Munch]

Spotted this on the Rebels Linkedin page - would love to get their thoughts now