I don't see how even a salary cap of $2m works - do any of the franchises revenue [not including RA payments] anywhere close to the current $5.5 salary cap (not including coaches salaries, travel costs etc.)? In which case, Super Rugby is simply being bank rolled by RA, which they can't afford?
Numbers reported by AFR were around $5M to cover the running costs for Rebels for the rest of this Super Rugby Season.....how is any of this sustainable, with declining reveue and increasing debt [Waratahs debt also unknown?]. With the current business model, it is easy to see how the Rebels ran up a debt of $20+ mio, as the numbers just don't add up.