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Thread: Melbourne Rebels to be re-privitised

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    Immortal jargan83's Avatar
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    Melbourne Rebels to be re-privitised

    The Melbourne Rebels Super Rugby team is set to be privatised in a deal that will see a consortium including prominent sports entrepreneur Peter Sidwell take control.

    Mr Sidwell is a former chairman and majority owner of A-League club Melbourne Heart, which was sold to English Premier League giant Manchester City in an $11.5 million deal last January becoming Melbourne City FC.

    He is also the chairman of the Australian arm of Greek gaming giant Intralot, the manager of Carlton AFL team coach Mick Malthouse and a long-time horse racing and breeding owner.

    The Australian Rugby Union will finalise the deal for Mr Sidwell and a group of Melbourne businessmen to take control of the loss-making team on July 1.

    Preliminary agreement

    A preliminary agreement has already been struck and Rebels players and staff informed of the pending deal. While little cash is expected to change hands, the new owners will assume the on-going liabilities for the team.

    The Rebels have been under the control of the Australian Rugby Union since majority owner Harold Mitchell handed control of the team to the governing body in 2013.

    The last Australian Rugby Union annual report revealed the Rebels lost $3.3 million in 2014, contributing to an overall $6.3 million deficit for the ARU. Mr Mitchell lost about $8 million establishing and running the team it its first two years in the Super Rugby competition.

    Currently in third position on the Australian division of the Super Rugby ladder, the Rebels have started the season in impressive form and boast several promising young players. Should its form continue the team are considered to have a good chance of qualifying for the Super Rugby finals series for the first time.

    The ARU have been trying for some time to sell the Rebels, including approaches to Melbourne entrepreneur Bart Campbell last year.

    http://www.brisbanetimes.com.au/rugb...13-gh19vb.html

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    Immortal Contributor The InnFORCEr's Avatar
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    Good news, and good luck to Mr Sidwell

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    Legend Contributor fulvio sammut's Avatar
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    Maybe we could include the force in the deal as a job lot?

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    Immortal GIGS20's Avatar
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    Quote Originally Posted by fulvio sammut View Post
    Maybe we could include the force in the deal as a job lot?
    Maybe the ARU could underwrite the Force to the tune of roughly nine million without any concern about a return.

    Now I'm no highfalutin CEO, but even I don't think it's a sound business strategy to throw bucketfuls of money at a business and then sell it the instant it looks like it might make a profit (unless of course you sell it for about three times what you put in!)

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    C'mon the

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    http://www.stuff.co.nz/sport/rugby/s...lbourne-rebels

    "Christchurch-born businessman Andrew Cox agrees deal to buy Melbourne Rebels

    A Christchurch-born businessman whose father was a longserving former Christchurch city councillor is behind a company set to buy the Melbourne Rebels Super Rugby franchise.

    The Australian Rugby Union (ARU) has announced a deal has been signed to sell the Rebels to Melbourne investment company the Imperium Capital Group, owned by Andrew Cox, who is also the managing director.

    .....
    Australian media outlets have been reporting that Peter Sidwell, a prominent Melbourne businessman, is also involved in the Rebels' purchase. Sidwell was the former chairman and majority owner of the Melbourne Heart A-League football club, which was sold to English Premier League giants Melbourne City last year for $A11.5 million, and rebranded as Melbourne City."

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    Quote Originally Posted by GIGS20 View Post
    (unless of course you sell it for about three times what you put in!)
    So you have high falutin ceo potential

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