swingpass
Peter Sullivan (51)
so i agree the Board have mismanaged bigly, its hard to fathom why. I assume that the debt mounted during Covid, less from RA for salaries, no gate income, but perhaps costs of hiring locked in (dunno), extra expense with the team on the road. they may have assumed that a PE deal was in the offing and debts would be covered, then no PE for RA, just the $80 mill loan facilty. then the RA consolidation/takeover falls through. all of a sudden all the creditors (Board member aside) want the money. the major debt after all is to the ATO, they may have been in a payment plan that they could no longer service perhaps most of it is fines, who knows. its tragic and the inevitable result of underfunding Rugby in Australia, as i said earlier on, imo the first but not the last Super team to fall over.