Secret $100m rugby fund taps rich investors

[Burgs]

Paywalled at The Australian- anyone got a subscription that can post the text here?
The header-

Fund managers are trying to raise $100m for a new fund to bolster the underperforming sport of rugby union, as losses mount and other football codes gain in popularity.

[Kernow]

Paywalled at The Australian- anyone got a subscription that can post the text here?
The header-

Fund managers are trying to raise $100m for a new fund to bolster the underperforming sport of rugby union, as losses mount and other football codes gain in popularity.

Who in their right mind would sink 100MM into RA?

[shasta]

A committed billionaire?

[jargan83]

Nothing says Rugby Union like a paywall on a plan to bail the code out from financial stress.

[Kiap]

Paywalled at The Australian- anyone got a subscription that can post the text here?
The header-

Fund managers are trying to raise $100m for a new fund to bolster the underperforming sport of rugby union, as losses mount and other football codes gain in popularity.

I decline to subscribe but there are other ways.

https://archive.is/20240616020833/ht...4e7ba82d5489a3

[Burgs]

I decline to subscribe but there are other ways.

https://archive.is/20240616020833/ht...4e7ba82d5489a3

Nice work

[shasta]

When you read the detail it's not actually $100m for the Foundation. It's a 1% dividend of a $100m private investment fund. Which still has to be raised with the 1% disbursed how often? But a good idea and every bit helps.

[GIGS20]

When you read the detail it's not actually $100m for the Foundation. It's a 1% dividend of a $100m private investment fund. Which still has to be raised with the 1% disbursed how often? But a good idea and every bit helps.

Minor correction (because I had to read it a few times to get this) it's 1% of gross assets.

THat means, yea 1 they will give 1 Million dollars to the foundation. Not to be sneezed at, since the foundation only grossed 1.2 million in a year credited in the article. Interestingly, of that 1.2 million, only just over 500K was actually distributed. What happened to the other 51% of the donations go?

I assume it's being runa as a not-for-profit, so the money can't be just pocketed by RA, but it might be paying for a CEO and a gazillion reports into the health of the community game (all conducted by suitably qualified professionals of course, the fact that they wen to the right school has nothing to do with it )

[Tazzmania]

The devils is in the detail not the clickbait headline.

Any person investing in stocks / Shares/ Cash etc would expect a return in excess of 1% per annum, therefore I suspect this will be like any private "unit trust" type of investment of which the investors acknolwedge that 1% per annum goes to rugby the rest remains in the fund.

Nothing to do with RA and certainly not a not for profit.

Great idea as any funds to rugby are helpful especially a sizeable amount of $1m pa.

We need as many of these out of the box concepts as possible

[Burgs]

but it might be paying for a CEO and a gazillion reports into the health of the community game (all conducted by suitably qualified professionals of course, the fact that they wen to the right school has nothing to do with it )

They can hardly be seen as independent reports if they didn't go to the right school...

[Burgs]

Maybe RA need to start their own "100 Club", just adding a few zeros on the end.

[GIGS20]

Nothing to do with RA and certainly not a not for profit.

to clarify my comment, I was talking about the ARF as a not-for-profit, being the recipient of the funds, not the Unit Trust itself.

I have a clear expectation that the Australian Rugby Foundation that Twggy offered his $70 million dollars to and is reportedly a vehicle to attract charitable funding to support grassroots and women's rugby is 100% a NFP