Strapped Rebels in danger of folding

[Burgs]

I reckon they can easily raise at least as much as the meat raffle on Tuesday night at the Marble Bar pub

You might be surprised, it's pretty lucrative

[brokendown gunfighter]

You might be surprised, it's pretty lucrative

the iron clad-what a pub!

[jargan83]

Looks like Rugby Australia didn't get the note from the Melbourne Spin Doctor:

Rugby Australia (RA) has affirmed its commitment to Rugby in Victoria after the Melbourne Rebels entered voluntary administration on Monday night.

As a result, RA will now work with the appointed administrator to ensure the Melbourne Rebels take the field for the 2024 Super Rugby Pacific and Super Rugby Women’s competitions.

As RA works with administrators, it will also focus on a viable professional Rugby footprint in Melbourne that can be sustainable and commercially successful in the future.

Rugby Australia CEO Phil Waugh says the Rebels’ players and staff will be supported through this time.

“RA is committed to ensuring the Melbourne Rebels play in the 2024 Super Rugby competitions, and we will support their preparation for the new season,” said Waugh.

“As custodians of the game, we are determined to ensure that RA is making responsible decisions for a sustainable and successful future – we will work with the Rebels and the relevant stakeholders to that end.”

Super Rugby Pacific’s Super Round, set to take place on 1-3 March at AAMI Park, will not be impacted.

Waugh said Rugby Australia would continue its dialogue with the Victorian Government in relation to the future of the Melbourne Rebels.

“The Victorian Government has been a long-standing and significant supporter of professional and community Rugby,” he said.

“Through our strong partnership – forged through decades of staging major events in Melbourne – our focus is to work with the Victorian Government and its key agencies, including Melbourne and Olympic Parks Trust, to ensure the Rebels’ participation in the 2024 Super Rugby season and the continuation of professional Rugby in the state.”

Melbourne Rebels CEO Baden Stephenson says the organisation is determined to fulfil its commitments for the 2024 season.

“Our focus as an organisation is to ensure we can deliver the 2024 season, perform well in the 2024 Super Rugby Pacific and Super Rugby Women’s competitions, and to position our club in the best possible way for the future,” said Stephenson.

“Thank you to the Rebels’ players and staff, our partners, and especially the members and fans for their support and patience during this time.”

https://www.rugby.com.au/news/rugby-...rebels-2024129

[GIGS20]

You might be surprised, it's pretty lucrative

I originally went with Friday Night and then thought they probably wouldn't be able to do that

[shasta]

Looks like they are toast. RA guaranteed 2024 but they had to hand over their licence. Maybe they just let them go broke then consider options?

https://www.watoday.com.au/sport/rug...30-p5f0zq.html

[Burgs]

...they had to hand over their licence...

I'm somewhat surprised they are able to do that once in Administration?
I would have thought all assets are locked down for at least as long as it takes to get a handle on everything.
Can only suggest RA has already made the "offer" to the Administrator under that contingency and expect them to take it.
It is my understanding, at least outside sport, that there is very little difference between Voluntary and Involuntary and ultimately it is up to the Administrator to make the decisions to trade on or liquidate, not a third party.

[Tazzmania]

Just trudged up this article from November 2018.

How can PwC now be involved in the voluntary adminstration:

PwC back the Melbourne Rebels

A direct outcome of the recent Rebels Strategic Review into welfare and integrity, PwC will support the Rebels with the development of a world class culture from the player group through the organisation and into the community.

PwC’s breadth of expertise across many different areas will be available to the Club across the country.

Speaking at today’s announcement, Melbourne Rebels CEO Baden Stephenson said:“It’s an incredible testament to the effort of all involved in the Melbourne Rebels that an organisation like PwC is now a key strategic partner. We’ve been through a lot in the last couple of years and this is a real watershed moment for us in acknowledging how far we have come and looking very optimistically into the future.”


READ MORE

????????

[shasta]

I'm somewhat surprised they are able to do that once in Administration?

Can't help you there Burgs. But it was in the "paper" so it must be......(insert your own descriptor).
I'm thinking "from a sauce who asked for anonymity", in case it's total bullshit.

[Burgs]

Just trudged up this article from November 2018.

How can PwC now be involved in the voluntary adminstration:

The gift that keeps on giving.
Sounds very much like a liquidation leach... um, company...

[wholetruth]

I've just listened to a NewstalkZB interview with Sean Maloney about the Rebels. Do not waste your time. Talk about sitting on the fence and not giving an honest view. Oh that's right he works for.....

[The InnFORCEr]

Looks like Docherty has stepped down this morning.

[GIGS20]

I'm somewhat surprised they are able to do that once in Administration?
I would have thought all assets are locked down for at least as long as it takes to get a handle on everything.

While that's true it operates under the assumption that the operating license is an asset (ie has a value)

It will all be bound up in the contracting definitions of the license, but the licence may be a technical liability (ie you have to pay a fee for the license) in which case, the administrators would be able to sign off on the transfer of license with an accompanying commitment to allow the team to continue competing.

THe license, as seen throughout the whole 2017 bullshit is really a GUARANTEE of participation in the competition. The Waratahs no longer control their license and they are still playing in 2024 (and everybody assumes forever) so in that regard the license doesn't operate in the same way as an electrician's license which enables you to work.

Personally I still reckon that RA will let the organisation fold and be able to resurrect a new team using the same license if they see fit to commit to a team in Melbourne.

I personally think they WILL have a team in Melbourne 2025, because from what I know about shit managers, they will drive the company into liquidation rather than admit that is was a mistake to throw all that money at a failing enterprise. The license thing might enable them to call that team the Rebels and keep most of the branding within copyright boundaries of being the same (which we've seen happen with the Force)

[Burgs]

It certainly has value in the layman's sense as without it they are dead, they have no Twiggy to do a GRR for them, but accept what you are saying re definition.
That said, I would have thought the same would apply to either asset or liability re the newly appointed Administrator needing to get a handle on matters before any deals done.

Agreed re 2025, though surely it would be far more expensive to restart rather than re-energize?

With most of the Vic lovers now out of RA leadership and the slight from Victoria in the recent letter re centralisation, I can see some pretty tough love coming up regardless.

[Sheikh]

Agreed re 2025, though surely it would be far more expensive to restart rather than re-energize?

I think that depends on whether you can get the debt forgiven/forgotten if you re-start.

[shasta]

I'm not sure of the ownership structure of the Rabble #2 ATM. IIRC the VRU paid a buck for the poisoned chalice; so are they in the hole for $9m or has ownership been secreted away like Rabble #1 ? If the VRU is in the frame I only see 3 options when they inevitably fold...
1. RA controlled franchise
2. Private ownership stumps up the cash ahead of a licence issue.
3. Melbourne is abandoned.

I don't see any upside in dragging the Brumbies into the swamp.