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Senator Reynolds was certainly pushing the line about the Iperium 'trust' account that the ARU 'extra' funds went into. The eventual point will be that the ARU board, our games custodians have been shambolic at best when handling and then mismanaging the ARU funds;
a) write off $13m
b) reject a deal to buy back the rebels licence that would have repaid most of the above
c) gave Cox upwards of $6m with no 'ZERO' accountability and no tractability; and (though not mentioned)
d) allow the national coach to dictate terms when he demands Beale and Genia be returned to Australia at $600k and $700k apiece.
Beale knocked back a second season option with Wasps but of course he would be on a top up straight away. Genia was far more complicated due to the deals he had with Bath and Stade Francais.
The ARU refused to pay out the full remainder of Douglas' Leinster contract that had two seasons left. This is despite clearly tapping him up after he just left and Leinster funded his rehab for a back injury he picked up inspecting rucks. He has been such a good investment with his injury and getting dropped by a ....house Reds team.
The Genia and Douglas deals combined would have costed over a million easily.
It wasn't you that was laughing at North and Clarke lying about the spreadsheet
Which may not be such a bad thing. Bond was convicted and went to prison. Which, luckily for him, turned out to be an amazing cure for his dementia and mobility problems. Even if it did leave the tiny skerrick of his once great credibility and reputation, in the gutter.
Downside for us is that we might be the Bell Resources shareholders of this scam.
"The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David
Senate inquiry hears Twiggy Forrest called ARU's bluff to save Western Force
The Australian Rugby Union's rejection of billionaire Andrew Forrest's $50 million offer to save the Western Force was a backflip that came weeks after it told him such a figure would save the club, a Senate inquiry has heard.
The revelations were made by the mining magnate's friend, former rugby professional and businessman John Welborn at a Senate hearing into the controversial axing of the Western Force.
If Forrest provided the money, the ARU said its board and CEO would also resign, he said.
Welborn said Forrest had called the ARU's bluff.
He and Forrest asked ARU chairman Cameron Clyne what they could to save the Force and were given a list that was supposed to be impossible to meet.
Welborn said the response was: underwrite the Western Force for the next eight years, fund grassroots rugby by $6 million a year for eight years and compensate the Super Rugby competition by $20 million to cover the costs in keeping the Force.
Welborn said that when Forrest told them he was willing to provide $50 million: "I think they were shocked when Andrew turned up willing to make ... the largest philanthropic sporting donation of all time."
They were told it was too late and RugbyWA should have got help earlier.
The sport's financial problems and justification for dumping the Force were in the "single figure millions".
http://www.smh.com.au/rugby-union/un...11-gyz4tw.html
Impressive day, it was frustrating when they kept mentioning running out of time. I assume there is not a day tomorrow set aside with any new witnesses?
Can they arrange another day to question more witnesses eg. PULVER ( for the second time ) or CLYNE.. not that it would do much good with those two deflecting their answers and refusing questions, but it would still be good to watch them squirm.
I assume now there is the 12th cut off for submissions, no more witnesses or days dedicated to the inquiry, and a report issued sometime in November, so for now it is just a waiting game?
There was some mention of possibly another hearing day in Canberra. I would imagine that they could also extend the November deadline due to the amount of evidence that needs to be checked
It seems to have been agreed by the others that Pulver will take the blame for alot of what has happened, after all he has already resigned
Inquiry hears Andrew Forrest called ARU’s bluff
Nick Taylor
Wednesday, 11 October 2017 7:18PM
Mining magnate Andrew Forrest called the Australian Rugby Union’s board's bluff when they said they would save the Western Force and resign if he pumped $70 million into the sport.
He agreed. They backed down.
Details of the demands were revealed for the first time during Wednesday’s senate inquiry into the future of rugby in Australia.
Former Wallaby and Force foundation player John Welborn, an adviser for the proposed Indo Pacific Rugby Championship, said the ARU terms were presented to RugbyWA.
But in a two-hour meeting a few days later with a Forrest deputation, the ARU board members never raised them again.
Welborn claims the ARU said the Force could be saved if:
The Western Force and all the other four Australian Super Rugby sides received equal funding.
The Western Force was underwritten for the remaining three years of the broadcasting contract and a further five years.
Forrest guaranteed to ensure the Force and RugbyWA would be in a “no loss” position.
That $6 million a year for eight years would be pumped into grassroots rugby.
That $20 million be provided in compensation to SANZAAR for the retention of the Force.
“If accepted, the ARU board would resign to be replaced by a new board along with a new CEO,” Welborn said.
More here
https://thewest.com.au/sport/rugby-u...-ng-b88626600z
Nah. It was me who was angrily waving the Melbourne Rebels' 2014 financial statements in the air when North was saying he didn't know how much they had received in ARU loans. And the reason I was waving them was because he was a director of the MRRU at the time and was therefore party to the Directors' Report in those financial statements. He damn well knew exactly what they'd received.
Geez he obfuscates well. Must be all those years at the bar listening to defendants do it.
Proudly Western Australian; Proudly supporting Western Australian rugby
As i see it .. No matter who blames who in this case the ARU are a collective of administrators paid to make decision for the betterment of rugby in Australia.. No one person can sign cheques all monies have to be presented at all board meetings..
From petty cash to large acquisitions every purchase has to be voted for and seconded.. No one in that office is free from the damage that has been done.. They can all chuck one and other under the bus but they all need to be accountable.. Would love to see the minutes of the board meetings..
The Senate committee should suspend all funds of the ARU and send in an Administrator to over see the day to day running of the current finances.. All passports of past and present administrators should be seized. The team of staff involved with the day to day running of the Wallabies and managing on going projects should be allowed to continue their jobs but no funds can be released u ntill it is approved by the Administrator..
All Super rugby clubs get their salary broadcast fund and nothing else.. .
ASIC need to then raid the offices and seize all computers and all Board meeting minutes and do a thorough report into the use of public funds