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Melbourne Rebels 2024

KevinO

KevinO

Geoff Shaw (53)
Slayer! said:
Do you have another explanation?
Two things happened,
1. The directors ABSOLUTELY hid the state of the Rebels' finances, not just from Rugby Australia, but also from ASIC and the ATO. Their directors will almost certainly be seriously fined and banned from being on boards for a number of years. It's similar in scope and seriousness (albeit without people on respirators dying of mesothelioma) to what the directors of James Hardie did. (what I just did there is the corporate equivalent of Godwin's law...)
2. Hamish McLennan kept sprinkling his special kind of pixie dust bullshit over the Rebels (and the Brumbies, and the Tahs) that he had private equity *just*around the corner, and he'd have a nice cash payment wrapped in a bow for them. Now the Rebels Board was already trading while insolvent (DEFINITELY on them) by this stage, but they hung on for the McLemon Christmas present. Which, like most Ponzi schemes hyped by Mosman shysters, never eventuated. By which stage the Rebels were so deep in the shit they had no choice but to double down and put it all on 00 on the Crown roulette wheel...

So were RA at fault? Maybe? McLennan was (and compounded the problem). Everyone else was misled.
Were the Rebels directors at fault? You betcha, and hopefully the door will hit them in the arse as they shuffle off from the Last Chance Saloon.
I feel fro the Rebels players - but management? They kept spending money on Taniela, LSL (Lukhan Salakaia-Loto) (Lukhan Salakaia-Loto) etc like the block who is betting on the last 50-1 shot at Flemington. They ABSOLUTELY knew....
Click to expand...
Yeah the ATO was blind? Read some of the documents will you. The Rebels were on a payment plan with the ATO.

Signings this year, Taniela would be replacing Hodge as the highest paid Rebel. LSL (Lukhan Salakaia-Loto) is a straight replacement for Philip. We never went out and spent money to replace DHP and Koroibete.
 
dillyboy

dillyboy

Arch Winning (36)
Pone's Mullet said:
Let’s take Tupou as an example - he is on a RA Top up, yeah. So they must have known how much his base salary was an authorised it
Click to expand...
But RA didn't know the Rebels were up the creek without a paddle when doing so - that's the issue.

Rebels board willfully hid their financial position from RA & the ATO for years.

Yes RA & the ATO probably should have issued a "please explain" notice sooner but ultimately it's the lies & deception from the Rebels board that has led to their downfall.....
 
Mick The Munch

Mick The Munch

Vay Wilson (31)
KevinO said:
Yeah the ATO was blind? Read some of the documents will you. The Rebels were on a payment plan with the ATO.

Signings this year, Taniela would be replacing Hodge as the highest paid Rebel. LSL (Lukhan Salakaia-Loto) (Lukhan Salakaia-Loto) is a straight replacement for Philip. We never went out and spent money to replace DHP and Koroibete.
Click to expand...
Should the Rebels have followed the Waratahs prudent spending…..oh sorry, 4.8m loss in last released figures, 400k on a crocked 18 year old and 5 odd million on Suaili.
 
Mick The Munch

Mick The Munch

Vay Wilson (31)
dillyboy said:
But RA didn't know the Rebels were up the creek without a paddle when doing so - that's the issue.

Rebels board willfully hid their financial position from RA & the ATO for years.

Yes RA & the ATO probably should have issued a "please explain" notice sooner but ultimately it's the lies & deception from the Rebels board that has led to their downfall.....
Click to expand...
Can’t wait for this all to come out in court
 
dillyboy

dillyboy

Arch Winning (36)
KevinO said:
THE REBELS HID NOTHING FROM THE ATO.

They were on a payment plan, you don't get on them if your hiding from them.
Click to expand...
Payment plan likely accepted based on false figures reported.

You don't get placed into administration of you're servicing all your debts....
 
KevinO

KevinO

Geoff Shaw (53)
dillyboy said:
Payment plan likely accepted based on false figures reported.

You don't get placed into administration of you're servicing all your debts....
Click to expand...
ATO don't go into payment plans on false figures. Administration happened after years of other issues and missing payments on the plan.
 
Rebelsfan

Rebelsfan

Billy Sheehan (19)
Slayer! said:
Do you have another explanation?
Two things happened,
1. The directors ABSOLUTELY hid the state of the Rebels' finances, not just from Rugby Australia, but also from ASIC and the ATO. Their directors will almost certainly be seriously fined and banned from being on boards for a number of years. It's similar in scope and seriousness (albeit without people on respirators dying of mesothelioma) to what the directors of James Hardie did. (what I just did there is the corporate equivalent of Godwin's law...)
2. Hamish McLennan kept sprinkling his special kind of pixie dust bullshit over the Rebels (and the Brumbies, and the Tahs) that he had private equity *just*around the corner, and he'd have a nice cash payment wrapped in a bow for them. Now the Rebels Board was already trading while insolvent (DEFINITELY on them) by this stage, but they hung on for the McLemon Christmas present. Which, like most Ponzi schemes hyped by Mosman shysters, never eventuated. By which stage the Rebels were so deep in the shit they had no choice but to double down and put it all on 00 on the Crown roulette wheel...

So were RA at fault? Maybe? McLennan was (and compounded the problem). Everyone else was misled.
Were the Rebels directors at fault? You betcha, and hopefully the door will hit them in the arse as they shuffle off from the Last Chance Saloon.
I feel fro the Rebels players - but management? They kept spending money on Taniela, LSL (Lukhan Salakaia-Loto) (Lukhan Salakaia-Loto) etc like the block who is betting on the last 50-1 shot at Flemington. They ABSOLUTELY knew....
Click to expand...
and in the dying days in December last year the directors and the ceo canvassed die hard fans for cash injections. disgraceful.
 
Tex

Tex

Greg Davis (50)
Anyway, seems stupid for the good burghers of GAGR to turn against each other when defending the old Melbourne money on the Rebels side and the inbred Wallabies gravy train schmucks on the RA side.

We the fans are the ones being dudded by shithouse administrators, no sense in drawing lines against each other when we should be demanding better governance of the sport we love.
 
Derpus

Derpus

Nathan Sharpe (72)
Tex said:
Anyway, seems stupid for the good burghers of GAGR to turn against each other when defending the old Melbourne money on the Rebels side and the inbred Wallabies gravy train schmucks on the RA side.

We the fans are the ones being dudded by shithouse administrators, no sense in drawing lines against each other when we should be demanding better governance of the sport we love.
Click to expand...
100%
 
Rebel man

Rebel man

Jim Lenehan (48)
Strewthcobber said:
The Rebels probably should have followed the Tahs prudent policy of publishing their accounts
Click to expand...
The public accounts, if they were so accurate why was RA shocked at the level of debt they carried?

A. RA is incompetent and didn’t read the accounts before taking them over

B. The Tahs were deliberately misleading
 
Strewthcobber

Strewthcobber

Simon Poidevin (60)
Rebel man said:
The public accounts, if they were so accurate why was RA shocked at the level of debt they carried?

A. RA is incompetent and didn’t read the accounts before taking them over

B. The Tahs were deliberately misleading
Click to expand...
The transfer was debt free.

We know this because of the publically available accounts.

RA may have been shocked at the finances, but it wasn't because of the debt.
 
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