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The number does vary a bit, but the theme is consistent.
https://www.watoday.com.au/sport/rebels-set-wednesday-deadline-for-ra-rescue-plan-discussions-20240305-p5f9xy.html...
The second group you mention would be the other beneficiary - at the moment they’re not going to get a cent. If a DOCA gets up because the Rebels directors get some money out of RA then they’ll see something. I’d expect in that situation the director loans would be written off - that is the vibe...
They personally tipped in as much cash to keep the Rebels going (as non-owners) as RA did to keep the Tahs afloat this year. I’d put it more like ‘rules for some’, but yeah basically.
If NSWRU has money and assets, why were the Tahs centralised with RA absorbing their debt? One set of...
Yet the Waratahs are bailed out whilst not being able to run a team without burning cash in the biggest rugby market in the country and no-one seems to have a problem with it because the boys club just got on with jumping in and quietly saving them.
If the assertions on the debt are true RA have run through:
$40m in Ares loan repayments
$6m Waratah debt
$4m possible Waratah costs this season (as per SMH reporting)
$4m to operate the Rebels this year (assume similar cost to tahs)
$8m Interest on the above $54m
So $62m to the end of 2024...
Hard one for them - vote against and have the rug pulled out from under you - play along and have the same happen. The federated voting structure doesn’t really provide much cover when 10/16 votes pretty much rely on the status quo for support.
Tim North.
The only way I could see it is if they showed RA's conduct to have been unconscionable or whatever the correct term is and forced them into insolvency by withholding monies due to trigger the hand back of the license. Feels like a long shot and MRRU would be more of a hollowed-out...
I am really confused right now as to how the Rebels are operating.
It’s been reported we handed the licence back to RA, so I assume this means that MRRU can’t be the vehicle which the team is playing under. This is supported by the liquidation extensions. If a report was due to be handed down...