Rebels-administrator-urges-private-consortium-be-allowed-to-save-club

[Kiap]

Zero balls to not say would

Melissa Woods - probably doesn't have swingers

[Burgs]

Two sources who attended the meeting, who declined to be named for professional reasons, said the administrator had the deciding vote after the creditor vote was tied on the consortium deal.

The source added...

This shit makes me want to punch my screen every time I see it!!!
They are professional enough to protect their career, but not professional enough to protect their integrity...
Pro Rugby in Australia has more leaks than a colander.
Probably the only reason leaks aren't held accountable is there would be no one left.

[Burgs]

Melissa Woods - probably doesn't have swingers

Hopefully no "would" either...

[shasta]

Pro Rugby in Australia has more leaks than a colander.
Probably the only reason leaks aren't held accountable is there would be no one left.

"There's only one way to ensure that nobody finds the source of all these leaks - a leak inquiry." - Sir Humphrey Appleby.

[joblot]

Melbourne Rebels to continue fight for survival after winning rescue-bid vote
ByCarla Jaeger and Sarah Danckert
May 3, 2024 — 1.12pm


The directors for the Melbourne Rebels have secured a major victory against Rugby Australia after creditors voted to support a rescue deal to save the debt-laden Super Rugby club.

The proposal was put forward by a private equity-backed consortium led by business heavyweight Leigh Clifford and the Melbourne Rebels’ directors.

Two sources who attended the meeting, who declined to be named for professional reasons, said the administrator had the deciding vote after the creditor vote was tied on the consortium deal.

The source added that the Australian Taxation Office voted against the proposal.

Insolvent since 2018: Melbourne Rebels’ rescue plan hinges on legal fight
Under the deal, employees will receive a return of 100 cents in the dollar, and unsecured creditors will receive between 15¢ and 30¢ in the dollar. The range of the payout will depend on if the directors are successful in their planned legal claim against Rugby Australia over alleged underfunding of the club.

The Rebels consortium must jump two hurdles before it can retain control of the company: Rugby Australia handing back the licence for the Super Rugby competition, and the Australian Taxation Office releasing the directors from their personal liability over the club’s $11.5 million in tax debts.

The group will now have 30 days to negotiate with the peak body for the sport and the tax office. If unsuccessful, the consortium will then have 60 days – or a date approved by the administrators – to commence legal proceedings to wrangle back the licence.

If they’re still unable to claim back the licence, or be released from their director penalty notice, the deal will collapse, and the consortium will no longer have any claim to the company.

https://www.watoday.com.au/sport/rug...ource=rss_feed

Is there any way action can be taken against those slimy bastards Clyne and Pulver.
They started this shit storm.

[Jules]

Is there any way action can be taken against those slimy bastards Clyne and Pulver.
They started this shit storm.

Those two seem to be covered in teflon nothing sticks

[andrewg]

According to Slayer1 from Green & Gold Rugby:

"The Administrator's report clearly showed the Rebels were getting more money than other teams.
AND that they had exceeded the salary cap for at least three years that we know of, by more than $2 million.
Criticise RA, yes - but criticise them for secretly funding a team run by Dodgy Brothers Inc..."

We've also heard that no accounts were submitted to RAu since 2018.
I reckon that there is no doubt that the Rebels are currently over the salary cap.
I'd be also interested on the same situation re the Tahs (as it would explain why some players are leaving due to salary adjustments by RAu.

The past Directors (aka Dodgy Brothers) of the Rebels should be held totally to account by all creditors including the ATO.

The WF will be totally legit as RAu will continue to keep us under the microscope!

Professional rugby in Australia needs a re-set as the management by RAu has been abysmal.

[shasta]

I read somewhere that there are precedents where the ATO has given some flexibility over tax debts. I imagine there were extenuating circumstances. I don't see that applying to board members who have been knowingly deceptive. So they can hardly agree to a deal that would allow the same clowns to carry on the farce.

[bootsetal06]

RA are as complicit in this as anybody…..

[shasta]

When all Else is Failing try a bit of Coercion & Scare Tactics

The answer for these "business heavyweights", if they love their club so much is simple. Do like Andrew Forrest and personally guarantee to fully fund any future losses plus any current creditor deals worked out. Anything less is just more of the same.

Business heavyweight Leigh Clifford says new investors are willing to treat legal threats against Rugby Australia as a “last resort option” if they find support for their plan to save the troubled club, and has warned the NRL would expand in Melbourne if the Rebels disappear.

Clifford, who is heading a consortium to rescue the Melbourne Rebels, has called on Rugby Australia to put aside past differences with the club and back a new six-year plan that will result in the club continuing as a viable operation until at least 2030.

The consortium plan, which has already won interest from overseas investors, would require Rugby Australia to return to the Rebels the licence it took in January after the club collapsed into administration owing its creditors $23 million.

“The danger here is that Rugby Australia abandons Melbourne, but more importantly abandons Victoria, leaving the opportunity for the NRL to expand further."

PAYWALLED

https://www.watoday.com.au/sport/rug...20-p5jey0.html

[Burgs]

I don't think the principle actors at the wheel of HMAS RA are of the mindset that would respond kindly to such attitude.
Particularly following my recollection RV and Rebels voted against them in the vote with the other Members (stand to be corrected on that).
I also can't see any legal position that ends well for Rugby in Victoria if they pursue that.
I would think RA are holding out for a genuinely independent "third party" to do a Forrest, rather than a continuation of a variation on an old theme, allowing the current/previous Directors get off the hook but RA still losing out financially.