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Thread: Forrest stake in AU rugby?

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    Forrest stake in AU rugby?

    From O'Halloran, so potentially with a grain of salt, but ....

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    What's exclusive about it? Andrew Forrest has said from the time that McLennan took over that he was talking with him but he wants changes to the way RA is run before deciding on any investment. McLennan has also said he has had talks with Forrest. More Eastern States beat up.

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    I wonder if Twiggy has provided the recent mystery $40mill facility that is keeping the RA afloat in the mean while.

    "McClennan declined to reveal who was providing the financial support"

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    Legend Contributor Alison's Avatar
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    Quote Originally Posted by JSJ View Post
    I wonder if Twiggy has provided the recent mystery $40mill facility that is keeping the RA afloat in the mean while.

    "McClennan declined to reveal who was providing the financial support"
    My thoughts exactly.

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    Alison, with your financial detective skills, you surely can confirm this? How is it possible for the RA to hide a $40mill loan in their balance sheet and for their chairman to decline to reveal who they borrowed this money from?

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    Legend Contributor brokendown gunfighter's Avatar
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    If the money has come from Twiggy,I hope he is charging pay day interest rates

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    Legend Contributor Alison's Avatar
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    Quote Originally Posted by JSJ View Post
    Alison, with your financial detective skills, you surely can confirm this? How is it possible for the RA to hide a $40mill loan in their balance sheet and for their chairman to decline to reveal who they borrowed this money from?
    It’s not hidden. It’s shown on the balance sheet and the notes to the accounts also refer to it. There is no problem with not saying who has provided it. As long as the auditors are satisfied it is genuine, that’s all that’s needed.

    I imagine we’ll find out who it is before too long. My money is on it being from a private equity investor. Can’t imagine any financial institution giving that much credit to an organisation so deep in the financial mire as RA is.

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    Immortal Contributor shasta's Avatar
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    Quote Originally Posted by brokendown gunfighter View Post
    If the money has come from Twiggy,I hope he is charging pay day interest rates
    As long as it's not from Ravi's uncle. It would likely be counterfeit.

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    Legend Contributor Alison's Avatar
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    Quote Originally Posted by brokendown gunfighter View Post
    If the money has come from Twiggy,I hope he is charging pay day interest rates
    You can be sure that if it his from him, the conditions attached to it will be firmly weighted in his favour.

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    Immortal GIGS20's Avatar
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    Quote Originally Posted by shasta View Post
    As long as it's not from Ravi's uncle. It would likely be counterfeit.
    Ravis uncle can cover it after my betting on saturday

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    C'mon the

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    From what we know of Andrew Forrest, he wouldn't provide $1 unless there were agreed changes to structure and governance.

    As none have been announced or voted on by the member unions then I reckon that you can rule out Forrest.

    Suggest that it's more like junk bonds (bridging finance) as RA have convinced bond holders that private equity is at an advanced stage of discussions.

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  12. #12
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    I think McLennan has done a pretty good job so far.

    Marinos I don't trust yet.

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