Page 11 of 34 FirstFirst ... 7 8 9 10 11 12 13 14 15 21 ... LastLast
Results 151 to 165 of 507

Thread: Senate hearing - Wednesday

  1. #151
    Immortal Contributor shasta's Avatar
    Join Date
    Feb 2006
    Location
    Mandurah
    Posts
    11,569
    vCash
    5632000
    The Bronze Star of Faith TWF Contributor!
    Well that's about all we could have expected. Now up to ASIC. If there is a money trail, maybe they'll find it.

    Like Westie says; time to move on and let this run it's course. The lies and obfuscation are on record permanently and the reputational stains on the main characters with them.

    0 Not allowed! Not allowed!

  2. #152
    Player
    Join Date
    Jan 2007
    Posts
    231
    vCash
    5126000
    Linda Reynolds has been absolutely amazing. The outcome didnt achieve everything but if the Force and superrugby are gone then the next best thing is making those who did this PERSONALLY ACCOUNTABLE! The ASIC Review will surely result in penalties to those responsible. I really wish they recommended the Force to be immediately reinstated but ohwel im done with superrugby and im now gonna bring my family/extended family and friends to the new IPRC featuring the WESTERN FORCE and move on. Hopefully we get 5 exhibition matches next year to break this new Force rebooted franchise in.

    3 Not allowed! Not allowed!

  3. #153
    Rookie wasmute's Avatar
    Join Date
    Aug 2017
    Location
    Perth
    Posts
    51
    vCash
    5120000
    Great Work Linda, Senators & all of Force supporters who submitted and searched for the truth.

    Be sure to email all your friends & family with the report so we can get it out there for all to see!

    Bring on the ASIC!!

    2 Not allowed! Not allowed!
    #FU ARU
    "May I assure you I have just begun to fight mate" Twiggy Forrest, 05/09/17

  4. #154
    Champion SinBin's Avatar
    Join Date
    Mar 2010
    Location
    Perth
    Posts
    1,342
    vCash
    5510000
    Quote Originally Posted by Leo86 View Post
    recommend that ARU/RA return The Western Force IP to Rugby WA for $1
    That was gold!

    1 Not allowed! Not allowed!

  5. #155
    Apprentice
    Join Date
    Sep 2017
    Location
    Singapore
    Posts
    48
    vCash
    5070000
    2.39 Despite the Melbourne Rebels and Western Force requiring support from the ARU historically, and the Melbourne Rebels consuming in excess of 50 per cent of the unbudgeted $28 million in financial support from the ARU, the basis for measuring financial resilience was based on future projections, not past performance.58

    0 Not allowed! Not allowed!

  6. #156
    Champion Bakkies's Avatar
    Join Date
    Sep 2017
    Posts
    1,082
    vCash
    5114000
    Quote Originally Posted by shasta View Post
    Well that's about all we could have expected. Now up to ASIC. If there is a money trail, maybe they'll find it.

    Like Westie says; time to move on and let this run it's course. The lies and obfuscation are on record permanently and the reputational stains on the main characters with them.

    It's not done yet. The Government has to write their own review in to report which includes details on whether Arseholes R Us have followed through on the recommendations.

    Another matter is the outcome of Twiggy's meeting with the IRB for the Federal Government backed IPRC.

    0 Not allowed! Not allowed!
    'I may be a Senator but I am not stupid'


    https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne

    Link to Senate Report http://www.aph.gov.au/senate_ca

  7. #157
    Immortal GIGS20's Avatar
    Join Date
    Sep 2006
    Location
    Rockingham
    Posts
    17,201
    vCash
    1268000
    The Bronze Star of Faith
    I made the report!

    2.11 The committee received evidence from submitters that the ARU had structural
    financial problems that would not be remediated by the removal of a Super Rugby
    team:
    To suggest that the ARU will have burnt through $285 Million dollars
    between 2016 and 2019, whilst simultaneously pointing towards
    $28 Million [in] unbudgeted expenditure as the catalyst…then to indicate
    that the $18 Million that would be recouped through dismissing a team will
    be sufficient to balance the budget is lunacy.12

    8 Not allowed! Not allowed!
    C'mon the

  8. #158
    Rookie wasmute's Avatar
    Join Date
    Aug 2017
    Location
    Perth
    Posts
    51
    vCash
    5120000
    I'd reckon the next Alan Jones radio show will be worth listening to!

    0 Not allowed! Not allowed!
    #FU ARU
    "May I assure you I have just begun to fight mate" Twiggy Forrest, 05/09/17

  9. #159
    Rookie
    Join Date
    Aug 2017
    Location
    Perth
    Posts
    119
    vCash
    5146000
    2.52 The committee heard from a number of submitters who believed that some consideration was given to removing the Western Force prior to 2017 and may have coincided with the negotiation of the Alliance Agreement in 2016.

    2.55 The committee also notes that the ARU management commissioned a report by Accenture in April 2016 and the report ultimately made a recommendation that the number of teams be cut to four. Despite Mr Clyne disputing the ARU were looking to cut a team prior to the delivery of that report, the committee notes the timeline of the report being drafted, from April 2016 onwards coincides with the negotiation and finalisation of the Western Force Alliance Agreement which ultimately meant the ARU had secured the licence of the Western Force.

    2.67 Working from public statements, submitters observed that the ARU may have considered removing a team about the time that the Alliance Agreement was being negotiated:
    Given the ARU had doubts about the viability of five Australian teams since the expansion in 2011, and that they started the process to reduce the numbers within a few weeks of signing the Alliance Agreement, it defies credulity that the ARU did not consider the possibility that the agreement could be used to remove the Force.[84]

    2.68 That suggestion was supported by a set of ARU Board minutes from the meeting on 18 August 2016 indicating that ARU management considered the removal of one Australian Super Rugby team to be 'preferable' both financially and from a high performance perspective

    2.101 Confidential evidence provided to the committee shows the ARU were directly involved in the execution of the transfer of the Melbourne Rebels' licence from Imperium to Victorian Rugby Union. The committee understands these negotiations were well underway by June 2017.

    2.102 The committee has significant concerns that the decision to remove the Western Force was made earlier than 11 August 2017 and was skewed against the Western Force by not placing enough emphasis on historic financial data, and the ownership structure of the Melbourne Rebels.

    2 Not allowed! Not allowed!

  10. #160
    Apprentice
    Join Date
    Sep 2017
    Location
    Singapore
    Posts
    48
    vCash
    5070000
    2.89 The committee have since been made aware through a confidential submission that the ARU suggested Imperium exercise a put option and were involved in negotiations which cleared Melbourne Rebels debt thereby allowing the put option to the Victorian Rugby Union to be exercised. These events took place in June 2017 and effectively made it impossible to end their licence.

    2.90 This is despite testimony from Mr Clyne stating 'But I have said there was a very real option that both teams were being considered right through until August.'106

    0 Not allowed! Not allowed!

  11. #161
    Champion Contributor sandgroperrugby's Avatar
    Join Date
    Jan 2009
    Location
    Wattle Grove
    Posts
    1,800
    vCash
    5616000
    TWF Contributor!
    2.88 The ARU, however, told the committee that no decision was made until the announcement was made on 11 August 2017 because insolvency remained a real possibility for the Melbourne Rebels:

    As part of our process of negotiating with the Melbourne Rebels we got to the point where we were able to conduct due diligence on the Melbourne Rebels. And it was clear to us at that point that there were serious financial concerns which could potentially result in an insolvency event. In fact, at the 12th hour minor shareholders within the Melbourne Rebels came forward with incremental capital to prop up the enterprise, which removed it from the prospect of insolvency.[105]

    2.89 The committee have since been made aware through a confidential submission that the ARU suggested Imperium exercise a put option and were involved in negotiations which cleared Melbourne Rebels debt thereby allowing the put option to the Victorian Rugby Union to be exercised. These events took place in June 2017 and effectively made it impossible to end their licence.

    2 Not allowed! Not allowed!
    Generally speaking you aren’t learning much if your lips are moving!!!

  12. #162
    Apprentice
    Join Date
    Sep 2017
    Location
    Singapore
    Posts
    48
    vCash
    5070000
    Quote Originally Posted by Moz View Post
    2.89 The committee have since been made aware through a confidential submission that the ARU suggested Imperium exercise a put option and were involved in negotiations which cleared Melbourne Rebels debt thereby allowing the put option to the Victorian Rugby Union to be exercised. These events took place in June 2017 and effectively made it impossible to end their licence.

    2.90 This is despite testimony from Mr Clyne stating 'But I have said there was a very real option that both teams were being considered right through until August.'106
    Wow !!!

    1 Not allowed! Not allowed!
    Last edited by Moz; 15-11-17 at 15:23.

  13. #163
    Rookie lou's Avatar
    Join Date
    Aug 2017
    Location
    Melbourne
    Posts
    149
    vCash
    5204000
    Quote Originally Posted by JSJ View Post
    2.52 The committee heard from a number of submitters who believed that some consideration was given to removing the Western Force prior to 2017 and may have coincided with the negotiation of the Alliance Agreement in 2016.

    2.55 The committee also notes that the ARU management commissioned a report by Accenture in April 2016 and the report ultimately made a recommendation that the number of teams be cut to four. Despite Mr Clyne disputing the ARU were looking to cut a team prior to the delivery of that report, the committee notes the timeline of the report being drafted, from April 2016 onwards coincides with the negotiation and finalisation of the Western Force Alliance Agreement which ultimately meant the ARU had secured the licence of the Western Force.

    2.67 Working from public statements, submitters observed that the ARU may have considered removing a team about the time that the Alliance Agreement was being negotiated:
    Given the ARU had doubts about the viability of five Australian teams since the expansion in 2011, and that they started the process to reduce the numbers within a few weeks of signing the Alliance Agreement, it defies credulity that the ARU did not consider the possibility that the agreement could be used to remove the Force.[84]

    2.68 That suggestion was supported by a set of ARU Board minutes from the meeting on 18 August 2016 indicating that ARU management considered the removal of one Australian Super Rugby team to be 'preferable' both financially and from a high performance perspective

    2.101 Confidential evidence provided to the committee shows the ARU were directly involved in the execution of the transfer of the Melbourne Rebels' licence from Imperium to Victorian Rugby Union. The committee understands these negotiations were well underway by June 2017.

    2.102 The committee has significant concerns that the decision to remove the Western Force was made earlier than 11 August 2017 and was skewed against the Western Force by not placing enough emphasis on historic financial data, and the ownership structure of the Melbourne Rebels.
    wow you really dug out the good bits

    0 Not allowed! Not allowed!
    The truth shall set you free

  14. #164
    Apprentice
    Join Date
    Sep 2017
    Location
    Singapore
    Posts
    48
    vCash
    5070000
    2.101 Confidential evidence provided to the committee shows the ARU were directly involved in the execution of the transfer of the Melbourne Rebels' licence from Imperium to Victorian Rugby Union. The committee understands these negotiations were well underway by June 2017.

    3 Not allowed! Not allowed!

  15. #165
    Apprentice
    Join Date
    Sep 2017
    Location
    Singapore
    Posts
    48
    vCash
    5070000
    Quote Originally Posted by Moz View Post
    2.101 Confidential evidence provided to the committee shows the ARU were directly involved in the execution of the transfer of the Melbourne Rebels' licence from Imperium to Victorian Rugby Union. The committee understands these negotiations were well underway by June 2017.
    Gun with a wee bit of smoke?

    1 Not allowed! Not allowed!

Page 11 of 34 FirstFirst ... 7 8 9 10 11 12 13 14 15 21 ... LastLast

Similar Threads

  1. Senate findings - Tuesday
    By wholetruth in forum Western Force
    Replies: 114
    Last Post: 16-11-17, 14:59
  2. Rugby leak claim probed by Senate
    By wholetruth in forum Western Force
    Replies: 12
    Last Post: 08-09-17, 18:28
  3. Replies: 6
    Last Post: 25-08-17, 18:06
  4. Murray hearing on Wednesday
    By NewsBot in forum News Feeds
    Replies: 0
    Last Post: 14-02-06, 22:16
  5. Murray hearing set for Wednesday
    By NewsBot in forum News Feeds
    Replies: 0
    Last Post: 14-02-06, 04:12

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •