Wallaby Man
Nev Cottrell (35)
I guess the notion that the Tahs might have had similar debt levels isn’t great to hear.
Melbourne Rebels 2024
- Thread starter RugbyReg
- Start date
Highlander35
Steve Williams (59)
I don't know the law and legislation enough outside the ohs act, but that looks like a very technical set of arguments.
It gets better.
Rebels set to sue Rugby Australia as civil war erupts, Rugby Victoria President barred from summit
Civil war is about to erupt in Australian rugby, with the Melbourne Rebels to sue Rugby Australia as the embattled Super Rugby franchise fights…
www.theroar.com.au
Rebelsfan
Billy Sheehan (19)
Let’s be clear , the former directors of Melbourne rebels are sueing RA . Melbourne rebels is now a shell of a company with no assets and no way to earn an income without their license. The players are contracted directly to RA who also holds the license . If MR win their case it will likely bankrupt RA because other franchises would rightly make the same claim
KevinO
Geoff Shaw (53)
I'm actually ok with that idea, RA goes bust. New governing body is formed with a constitution similar to NZRU and PE is found at the same time. New GB has Lions tour and rwc to prepare for and takes over from a position of strength.
stoff
Trevor Allan (34)
If the assertions on the debt are true RA have run through:
$40m in Ares loan repayments
$6m Waratah debt
$4m possible Waratah costs this season (as per SMH reporting)
$4m to operate the Rebels this year (assume similar cost to tahs)
$8m Interest on the above $54m
So $62m to the end of 2024 assuming no operating loss.
Then interest for 2025 will be at least another $9.3m, so up to $71.3m.
if the rebels board are successful RA will be out looking for more finance. Even if they’re not, there’ll be cash to the Jaguares and more NSW costs to cover in 25. The lions tour money might not get us to RWC27.
$40m in Ares loan repayments
$6m Waratah debt
$4m possible Waratah costs this season (as per SMH reporting)
$4m to operate the Rebels this year (assume similar cost to tahs)
$8m Interest on the above $54m
So $62m to the end of 2024 assuming no operating loss.
Then interest for 2025 will be at least another $9.3m, so up to $71.3m.
if the rebels board are successful RA will be out looking for more finance. Even if they’re not, there’ll be cash to the Jaguares and more NSW costs to cover in 25. The lions tour money might not get us to RWC27.
All is well and happy
Rebels to sue Rugby Australia
Rebels set Wednesday deadline for RA rescue plan discussions
Legal action against Rugby Australia appears inevitable if the governing body shows no willingness to resolve the financial issues that have the Melbourne franchise on the brink of liquidation.t.co
This is the balliest assertion of them all...
Highlander35
Steve Williams (59)
It's 100% funny AF.
Like scary, but in a you can't get mad kinda way.
Like scary, but in a you can't get mad kinda way.
LeCheese
Greg Davis (50)
If RA go bust, the reformation of a governing body and continuation of the professional game in this country will not be that straightforward. To be frank, it’s the worst possible outcome.
Steve_Grey
Darby Loudon (17)
Agreed - sounds in theory like a nice clean slate. In reality it will be a nightmare scenario.
Jimmy_Crouch
Peter Johnson (47)
Biggest case of if I can't have it you can't have it. I thought these people (on the Rebels board) are rugby people. How does this help the game in Australia.
Mr Pilfer
Alex Ross (28)
Exactly, this is just them going down swinging. They are suing RugbyAU and then just need to pass the money on to ATO anyway, I don’t think any of us will lose any sleep if the ATO don’t get their money back so let’s hope they don’t win.
TSR
Andrew Slack (58)
In what way is this remotely funny. Not content with ruining their own club the Rebels board wants to pull everyone else under with them?
Im all for finding a way to save the Rebels - this sure as hell isn’t it.
Rebelsfan
Billy Sheehan (19)
RA has wanted a centralised model for a while now. MR is now a centralised model. Players are contracted to RA, admin is done by RA. Not sure about game day operations, but those staff have been kept on for now. For a club that plays just 4 months of the year, do they need a team of 25 off field staff all year?
Strewthcobber
Simon Poidevin (60)
I think you might be neglecting how big a role the Waratahs $24m in assets and positive equity (at least in 2022) played in the Tahs centralisation decisions.
stoff
Trevor Allan (34)
Think you’re looking at the wrong report there. Waratahs had $1.5m in equity before being $6m in debt the next year.
stoff
Trevor Allan (34)
They personally tipped in as much cash to keep the Rebels going (as non-owners) as RA did to keep the Tahs afloat this year. I’d put it more like ‘rules for some’, but yeah basically.
If NSWRU has money and assets, why were the Tahs centralised with RA absorbing their debt? One set of directors expected to own their debts but not another.
TSR
Andrew Slack (58)
Horseshit. Most of us have big problems with the respective poor running of the Tahs, the Brumbies and previously the Reds (who seem to have their act together for the time being at least but shouldn’t be above criticism for the current state of rugby.) And you don’t have to look far to find the evidence of that. And most of us have huge sympathy for the Rebels and their fans.
What we don’t want - or at least what I don’t want - is to see Rugby Australia dragged under. Be that by the Tahs, The Rebels, the Brumbies, The Reds or themselves. It doesn’t do anyone any good. The suggestion that RA go broke and that the Lions and WC would still go ahead as planned I find very hard to believe. The fact that other fans seem to want to cheer this on has me bewildered.
Explain to me how this current course of action helps anyone but the same board members who ran the Rebels into the ground and I’ll happily change my tune.
NB I do also feel for the individual small businesses who will no doubt be part of the Rebels creditors as those people are no doubt personally impacted by this and God only knows what impact it is having on some of them.