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Hmmm, JO'N clearly still has his feelers out there. He puts this out there yesterday:
Australian Rugby Union chief executive John O'Neill has warned potential backers of the Melbourne Rebels only to do so if they have a spare $1 million to indulge a passion....''The thing about owning a sporting franchise is that you don't go into these ventures to make money; you go into it hoping not to lose any,''...
(http://www.smh.com.au/sport/rebels-a...02-pge2.html):
the day before this hits the news
FOOTBALL Federation Australia is staring into a $20 million black hole as concerns grow over the financial viability of the A-League competition....The sobering news comes on top of reports that North Queensland Fury owner Don Matheson is scaling down his investment with the fledgling club amid suggestions he is bleeding as much as $50,000 a week....an upbeat A-League chief Archie Fraser said the FFA was not overly concerned...."Look, there is no doubt we have to get the model right. Some clubs are doing better than others. Melbourne (Victory) will make a small profit and while Adelaide United will lose around $1.3m, we are happy with the progress being made there."...
(http://www.theaustralian.com.au/news...225836723145):
Now, perhaps if I am wrong, but wasn't the Soccer model the one that was held up as the example of successful private equity involvement that Union was going to emulate....?