$17k in the bank, told to merge with NZ club: Dire situation for Super Rugby side revealed

The Melbourne Rebels might be advised they’ll be closing their doorways inside weeks with revelations the ailing Super Rugby membership has simply $17,300 within the financial institution.

While their 2024 future is safe past that continues to be a serious query.

The Age stories the Rebels’ dire monetary state of affairs was revealed in a collectors assembly held final week, which was then filed to the Australian Securities and Investments Commission.

UFC 298: VOLKANOVSKI VS TOPURIA | SUN 18 FEB | Order Now with Main Event on Kayo Sports. Main Event on Kayo Sports and Foxtel is the brand new unique house of UFC Pay-Per-View occasions!

The workforce has entered voluntary administration and auditors from PwC have discovered they owe over $20 million, together with:

– $11.6 million to the tax workplace;

– $5.7 million to board members;

– $2.8 million to suppliers;

– $1.1 million in unpaid stadium charges;

– $720k to the state income workplace;

– $250k in worker superannuation.

But they’ve simply $17,300 of their financial institution accounts with property together with workplace furnishings, fitness center tools and two automobiles.

The Rebels are demanding Rugby Australia pays them $8 million they declare is owed to the membership – $6 million in underfunding over a number of seasons and $2 million to cowl participant wages whereas members of the Rebels have been that includes for the Wallabies.

News Corp reported Rebels board members have been being made personally chargeable for the $11.6 million tax debt.

Fans are at present unable to purchase house tickets or memberships for the workforce with per week till the season begins.

It comes after leaked paperwork revealed Rugby Australia had advised the membership to merge with New Zealand-based Moana Pasifika, with Super Rugby then including a brand new workforce on the United States’ west coast.

“As at 18 July 2023 Rugby Australia was requiring Melbourne team to be known as Rebels Pasifika in its dealing with Rebels, Victorian Government, the British and Irish Lions Tours to Australia in 2025,” it learn.