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Thread: Terms of Reference for a Senate Inquiry into the Future of Rugby Union in Australia

  1. #961
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    My West subscription has officially been cancelled. What a joke. Thanks Nick Taylor for your articles but unfortunately your boss in a knob. Both of his articles should have made print, especially yesterdays one.

    Don`t know why you`d have a subscription when it`s all free on thewest site anyway. Don`t forget the website has far greater reach outside our state as well.
    And here`s another one from Nick Taylor. At least he`s chipping away

    Senate rugby inquiry: sale of Melbourne Rebels for $1 comes under the spotlight
    Nick Taylor
    Thursday, 12 October 2017 5:17PM

    The sale of the Melbourne Rebels for just $1 is now under scrutiny.Picture: Getty Images
    The Australia Rugby Union’s sale of the Melbourne Rebels for $1 to New Zealand businessman Andrew Cox and his Imperium Sports Group is under the spotlight of the senate inquiry into the future of rugby in Australia.
    The inquiry is investigating the money trail that led to millions of dollars being handed to the Rebels, now owned by the Victorian Rugby Union.
    Senator Linda Reynolds raised a potential technical insolvency in New Zealand and the previously unknown existence of an Imperium unit trust when she grilled the ARU’s former chief operating officer at the hearing in Perth on Wednesday.

    More here
    https://thewest.com.au/sport/rugby-u...-ng-b88627636z

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  2. #962
    Champion Bakkies's Avatar
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    Go on to the abncheck website and there are a load of Imperium Unit Trusts registered on there. Shame the site is devoid of other key details.

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  3. #963
    Legend Contributor Alison's Avatar
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    Quote Originally Posted by Bakkies View Post
    Doing some research Cox set up his business and unit trust on the basis of his reputation to turn around businesses. He sure did a good job at TGI Friday and the Rebels.

    http://www.imperium.com.au/?cat=38

    In 2014 he was investing in hotels in NZ.

    http://www.theaustralian.com.au/busi...3fd38836af38a6
    In preparing my submission to the Senate Inquiry, I spent a few hours trying to unravel the web of companies that Cox owns in Aus and NZ. Boy, is it a complex network! As far as I could work out, the key ones are:

    • Imperium Capital Group Pty Ltd (ABN 072 269 026) which has Cox as its sole director. The company has 10,012 shares worth just $10,012, all of which are held by Praetorian Private Equity Pty Ltd (ABN 111 543 330).

    • Imperium Sports Management Pty Ltd (ABN 605 824 646) which was the company used by Cox for the MRRU and the company who transferred the MRRU to the VRU in August this year for $1. Cox is again the only director of the company. It has 500 shares worth $500, all of which are held by Praetorian Private Equity Pty Ltd (ABN 111 543 330).

    • The Imperium Collection Ltd (NZBN 9429041341407) which is described by the NZ ASIC people as “a holding company operation – passive investment in subsidiary companies”. It has been run by Cox as the sole director since 19 August 2014. It has just 100 shares (presumably worth $100 but I found no confirmation of that), all of which are owned by….you guessed it, Praetorian Private Equity Pty Ltd (ABN 111 543 330) which is described by the NZ authorities as “the ultimate holding company” for The Imperium Collection Ltd.

    I have not been able to find any financial accounts for any of the companies identified above.

    In addition, there is Imperium Group on the New Zealand stock exchange (which owns the Eichardt Hotel among other companies). In June 2014, Cox had negative equity in those companies. He also owned the Australasia TGI Fridays franchise until about Aug 2017.

    Now as you all know, I am far from being an accountant but even I am questioning what Andrew Cox’s businesses actually do?? They appear to be worth peanuts on the face of it so why on earth did the ARU think it appropriate to pass a whole SuperRugby franchise over to him? What was the attraction of Cox to the ARU and of the MRRU to Cox???

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  4. #964
    Champion Bakkies's Avatar
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    I am wondering if they are shell companies with limited responsibility similar to what tax avoidance types use in the UK which you will be familar with. I remember the company that Harry Redknapp had in Monaco under his dog's name and claimed dyslexia when he was busted. I posted on the other thread that there are two Imperium Sports Management companies registered under ASIC

    Looked up Praetorian Private Equity Pty Ltd on ASIC four name changes since 2004 including a pub name and a steak restaurant chain. Went on to the ABN checker and it is another trust. Looks like he shifts the money around between trusts as the profits can't be kept.

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    Last edited by Bakkies; 12-10-17 at 19:43.

  5. #965
    Legend Contributor Alison's Avatar
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    One wonders if they all charge each other management fees that all end up in Preatorian Private Equity Pty Ltd! I wish we could draft in a forensic financial investigator to unravel it all!

    Incidentally, not sure if I've mentioned this on here before - apologies if I have, but in the years that the ARU controlled the MRRU (2013 & 2014), the MRRU "provided services to the value of" nearly $10 million to the ARU. What the hell were those services and why was the value of them not shown in the revenue column in the income & expenditure statement? Again, I wish we could draft in a forensic accountant from somewhere!

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  6. #966
    Champion Bakkies's Avatar
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    Surely Twiggy has a few on tap or even message Hansie to see if he get on to one for the next legal move.

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  7. #967
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    I think we should be keeping all this chat buzzing. I think we should be as supporters and punters of the force become more proactive and annoying on radio, tv and mail to the editors. I think if the media are not touching on this issue we must keep it in their minds that we are still angry, bitter and upset about the treatment of us as a community. I’ve just called up 6PR to try and get them to talk about the senate enquiry. We need to be in the media’s face to ensure the issue doesn’t just drift away and the issue continue to be broadcast to the general public to maintain interest of all west Aussies. I feel we should ask the media to share and update us on what they know! Request interviews and give them your two bobs worth. Vent your spleen, offer insights on how it affects us as fans etc.

    Let’s keep this injustice in the media’s scopes and not let it die a slow death. Milk the sporting shows with your opinions, talkback radio etc.

    Sorry about this rant but if the media won’t play ball in this sad time for wa rugby we have to shake the tree and keep them fed with our displeasure of this situation and our need to update us and the public on the news of how the future of wa rugby will look.

    We are dealing with afl centric media here so we need to keep at these media outlets to keep wa in the loop on how rugby is mistreated in wa.

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  8. #968
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    Again, I wish we could draft in a forensic accountant from somewhere!

    I think ASIC may have a couple available, ready to do their work once the senate team tables its recommendations.

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  9. #969
    Champion Bakkies's Avatar
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    I’ve just called up 6PR to try and get them to talk about the senate enquiry.
    Did you get on to Brad Hardie and Oliver Petersen. Alan Jones will probably step it up in the next few days to promote the Force vs Waratahs game.

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  10. #970
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    Quote Originally Posted by Transiting View Post
    TWAS is not one person!
    Yes, have started to realise that one, too many comments & answers for one person. Are these dudes paid to crap on like that?

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  11. #971
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    Yeh not Brad Hardie yet but contacted Millsy and baz in morning of senate enquiry asking them to keep in touch with it. The girl on the phone said they had not fitted it into their program.

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  12. #972
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    Quote Originally Posted by valzc View Post
    Yes, have started to realise that one, too many comments & answers for one person. Are these dudes paid to crap on like that?
    Not so sure there have been some deranged people with multi personas post on Rugby forums.

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  13. #973
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    Quote Originally Posted by mothy View Post
    Yeh not Brad Hardie yet but contacted Millsy and baz in morning of senate enquiry asking them to keep in touch with it. The girl on the phone said they had not fitted it into their program.
    Too many AFL trades to talk about. Gary Ablett OMG!!! Yawn.

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  14. #974
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    I've figured it out, TWAS is actually 2 people - Iain Payten and Jamie Pandaram!

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    Legend Contributor blueandblack's Avatar
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    Dry July! TWF Contributor! 141 Club Award TWF Competition Winner!

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    "12 Years a Supporter" starring the #SeaOfBlue

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