KevinO
Geoff Shaw (53)
We know you hate the Rebels from 2017, we did not want any team cut then. Please keep this rubbish to the Force thread or somewhere else.
The Rebels will play this year, the Rebels will win games this year.
Melbourne Rebels 2024
- Thread starter RugbyReg
- Start date
The Rebels will play this year, the Rebels will win games this year.
Wilson
Phil Kearns (64)
Not necessarily, it could mean they have no faith in the board to get a deal done and they don't want them to waste 4 months trying or working on ways to get money out of RA. Better in that case for RA to work on getting that investment needed themselves.
Whether or not it helps them get paid would be the question for most of the creditors, but I don't think you can assume that giving them this time would necessarily help.
Edit: Also worth noting that delaying liquidation would also delay the staff's access to redundancy payouts. A really shitty thing to do unless you're pretty bloody confident in your ability to get a deal done.
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stillmissit
Peter Johnson (47)
What a massive misfire by RA to drop the Force and support rugby in Victoria where any contact sport that is not AFL goes to suffer and die slowly.
Steve_Grey
Darby Loudon (17)
Right got you - same report says RA have gone through $50m of their $80m drawdown (leaked info?).
Not a lot of wiggle room for RA, just as NRL reveal record revenues of over $700m.
stillmissit
Peter Johnson (47)
Jesus! That is a biggy if it is true..
Tomikin
David Codey (61)
Where was this written was that in which report, would love to have a read..
Steve_Grey
Darby Loudon (17)
Let me find and paste....
stillmissit
Peter Johnson (47)
There is the key phrase - we've very much moved on from the 90's here in terms of Rugby. It's a FAR more vibrant community, spread across many regions and communities.
Steve_Grey
Darby Loudon (17)
The Melbourne Rebels board is making a desperate bid to save the club, seeking an extra 120 days to arrange a debt deal to avoid it almost certainly going into liquidation.
Rugby Australia’s legal team has been approached for the time extension, but the governing body has already signalled the club’s current entity will crumble under the weight of more than $20 million debt.
An administrators report was expected to come out early next week, with the Rebels playing their first game of the Super Rugby season at AAMI Park in Melbourne on Friday night.
Any delay would allow more time for the Rebels’ board to mount a claim against Rugby Australia, which it has claimed owed up to $8 million of the club’s debt.
But creditors, including Rugby Australia and the Australian Taxation Office, which was owed $11.6 million, would have to agree to an extension.
Rugby Australia has taken over the Rebels licence.
Administrators made all staff redundant last week, which leaves the liability for redundancy payments with the club.
Some staff were rehired but others, including chief executive Baden Stephenson were let go.
Rugby Australia confirmed the redundancies last week, encouraging staff made redundant to apply for a Federal Government backed bailout scheme.
“Affected staff members (including those offered contracts by Rugby Australia) will be able to claim a redundancy package via the government’s Fair Entitlements Guarantee (FEG) scheme,” the statement said.
The FEG scheme only kicks in when a company has been put into liquidation.
“If the employer has not entered bankruptcy or liquidation FEG payments are not available — you should contact the Fair Work
Ombudsman in relation to the employer’s refusal to pay your entitlements,” the Department of Employment and Workplace Relations states.
The FEG scheme was set up in 2001 following a number of high profile company crashes.
Parts suppliers relied heavily on the scheme during the collapse of Australia’s car industry.
Any delay in going into liquidation means former employees will have to wait months for their payouts.
Rugby Australia’s public statements point to a grim future for the Rebels’ beyond the 2024 season.
The governing body has an $80m loan with Pacific Equity Partners, with at least $50 million drawn down so far.
There are questions about whether it can continue to support five Super Rugby teams in Australia.
Rugby Australia’s public statements point to a grim future for the Rebels’ beyond the 2024 season. Picture: Getty Images
The Waratahs have already been taken over by Rugby Australia.
The ACT Brumbies have rejected reports of concerns about the club’s finances.
The Twiggy Forrest backed Western Force remains a strong club, with some rugby insiders suggesting that the league could drop to three Australian teams next year, including the Waratahs and Queensland Reds.
A fixture shake up to allow more rounds to be played could cover off any loss of games to meet its broadcast deal with Stan Sport.
However, it was possible that the Rebels licence could return under a different corporate entity next season.
Steve_Grey
Darby Loudon (17)
NRL Story for those behind the paywall:
ARL Commission boss Peter V’landys (the horse racing guy) has revealed his masterplan to make the NRL a $1 billion empire as the code celebrates the greatest revenue in rugby league’s 116-year history.
V’landys (the horse racing guy) boldly declared the NRL has dethroned the AFL as Australia’s No. 1 sport after League Central on Wednesday revealed a record income in excess of $700 million ahead of the code’s historic double header in Las Vegas.
V’landys (the horse racing guy) and NRL boss Andrew Abdo will head to Sin City next week basking in the afterglow of a series of financial coups that has turned the game from the brink of bankruptcy to unprecedented riches in just three years.
On a landmark day for the sport, the ARL Commission released the NRL’s financial performance for the 2023 season as rugby league’s on and off-field prosperity hit record levels.
* The NRL’s total revenue reached a record $701.1 million;
* The 2023 revenue represented a whopping $107.3m improvement and represented an 18 per cent increase on the previous season’s mark of $593.8m;
* The ARLC announced a 2023 operating surplus of $58.2m, the third consecutive year League Central has recorded a handsome profit;
* Since 2021, the NRL has banked $164.2 million in profits;
* The NRL now boasts net assets in excess of $260 million, bolstered by the purchase of three properties, including Brisbane’s Gambaro Hotel near Suncorp Stadium;
* The NRL delivered record distributions of $447 million to stakeholders, an increase of $80m from 2022, with players receiving a record $216.3m, up 16 per cent from the previous year; and
* Rugby league is now Australia’s most-watched sport with total viewership of 171.8 million, up 14 per cent from 150.6m in 2022.
The Ghost of Raelene
David Codey (61)
We can make fun of V'landys all we want (I know I have) but gee he's effective.
They're going to bring in more sides and grow their TV deals. I don't care about the PNG push I think that's just grabbing free money from the Federal Government if it does happen, I have my doubts over being able to recruit. But, they will push into Perth. I don't care about their teams but I do care about the 60 extra professional jobs that need to be filled with an increasing salary cap. What would be the average salary of a Super Rugby player? NRL is currently at $428,000 with the minimum being $120,000
When Swinton signed in France it was reported to be $500,000+ more than double his Waratahs contract. He would surely be paid above the average even with his injuries and issues. Over time players in Aus and throughout the Pacific will play where the money is the best.
They're going to bring in more sides and grow their TV deals. I don't care about the PNG push I think that's just grabbing free money from the Federal Government if it does happen, I have my doubts over being able to recruit. But, they will push into Perth. I don't care about their teams but I do care about the 60 extra professional jobs that need to be filled with an increasing salary cap. What would be the average salary of a Super Rugby player? NRL is currently at $428,000 with the minimum being $120,000
When Swinton signed in France it was reported to be $500,000+ more than double his Waratahs contract. He would surely be paid above the average even with his injuries and issues. Over time players in Aus and throughout the Pacific will play where the money is the best.
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upthereds#!
Peter Johnson (47)
Alot of it was paying off a debt that was due. Basically moved from one loan to another. So not that big a deal.
Shiggins
Simon Poidevin (60)
It's a genuine question. I didn't say I think the rebels should go and I don't hate any super rugby team. Yes I thought they should have gone over the Force and it's taking a while but it's starting to be proven that would have been the right decision.
If they play this year the hole will be deeper. I know they will win games. No doubt with that squad. A bunch of rebels fans having a cry about a fact is sad. Get real, it is what it is.
Strewthcobber
Simon Poidevin (60)
If it's genuinely $50m, that's a huge jump from where they were in 2022.
Basically $24m on the loan note, and $10m of early payments from WR (World Rugby) for WC which will have been paid back/wiped by now
Mick The Munch
Bill McLean (32)
Force would’ve gone bust without Twiggy
Rebel man
John Thornett (49)
lol
SteveWA
Charlie Fox (21)
For what it's worth I don't know anyone on this side of the country who thinks reducing the number of teams is good for the game in this country. And most I talk with have a deep sympathy for the players, their families and the loyal supporters. Having been through this ourselves I understand the anger and the frustration - you all deserve better than this.