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Thread: Strapped Rebels in danger of folding

  1. #121
    Immortal Contributor The InnFORCEr's Avatar
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    Rebels’ survival hopes fading as CEO and staff lose jobs, coaches given four-month contracts

    The Melbourne Rebels’ hopes of surviving beyond this season are swiftly fading after 10 administrative staff, including chief executive Baden Stephenson, were made redundant, with the remaining staff and coaches put on four-month contracts to see out the Super Rugby campaign.

    A day out from Super Rugby Pacific’s glitzy launch in Auckland, administrators PricewaterhouseCoopers began the process of winding up the Rebels on Tuesday by terminating the employment of all staff members, excluding players (given Rugby Australia is a party to their contracts).

    Rugby Australia subsequently put a small number of administrative staff and the Rebels’ high-performance staff, including Kevin Foote’s coaching team, on new short-term contracts that will run to the end of the season in June.

    Stephenson, who has been chief executive of the Rebels since 2017, was informed by Rugby Australia CEO Phil Waugh he would not be offered a new contract. Nine other staff were given the bad news on Wednesday, and players and coaching staff were also addressed by Stephenson.

    Rugby Australia’s head of human resources, Rachel Buckling, was in Melbourne on Wednesday to handle the new contract arrangements.

    Rugby Australia declined to comment when asked about the job losses on Wednesday.

    The Rebels were placed in voluntary administration this month after it emerged they owed as much as $20 million in debts, including to the Australian Taxation Office and the Melbourne and Olympic Park Trust. Rugby Australia has taken back the Rebels’ licence and the club is under major pressure to survive.

    Auditors from PwC appointed to investigate the club’s finances revealed the Rebels owe $11.6 million to the Tax Office, $5.7 million to board members, and $2.8 million to suppliers – which include sponsors that paid their fees upfront.
    Adding to the list of debts is $1.1 million in unpaid stadium fees, $720,000 owed to the State Revenue Office and $250,000 in superannuation owed to employees.

    The grim financial state of the Super Rugby franchise was laid bare in a creditors meeting on Thursday, the minutes of which were filed to the Australian Securities and Investment Commission on Monday.

    Administrators said the club has just $17,300 in the bank, with assets consisting of office furniture, gym equipment and two cars. The value of those assets are not known.

    It was felt the future of the Rebels beyond the 2024 season would become clear by early March but the mass job losses paint a grim picture.

    Speaking at the Super Rugby Pacific launch on Auckland Harbour on Wednesday, Waugh sidestepped questions about the Rebels’ future but SRP chairman Kevin Malloy gave a strong indication the competition was contemplating a restructure in 2026, and the Rebels’ demise had “accelerated” the review.

    “I wouldn’t call it a cloud. I think it’s just a reality that we have to deal with,” Malloy said.

    “We feel really engaged and involved in understanding exactly what Rugby Australia are working through. And part of that conversation is obviously starting to think about the future, but I think we’ve signalled well in advance of this tournament that we’re doing that anyway, and logically 2026 has been the timeframe with media rights cycles and that sort of thing ... so [that’s when] we would think about if there would be any material change in the competition … clearly what’s happened with the Rebels has just brought that conversation forward slightly.”

    “There’s always going to be a review on how it accelerated to the point it’s at, but we’re close to all clubs.

    Asked whether the Rebels’ plight will place a cloud over the Super Round in Melbourne, Waugh said: “We’re working through that process. I think it’s exciting. You’ve got six games in one of the greatest sporting markets in the world.

    “And as we heard from Trevor (Waugh was referring to Rob Leota), the captain of the Rebels up there, it’s an exciting and a huge opportunity for the locals to come out and support rugby and see some of the best players in the world.”

    https://www.msn.com/en-au/news/austr...49d7915&ei=106

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  2. #122
    Player Kernow's Avatar
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    The Force game against the Rebels is the one I get most excited about; despite the history, I'd be gutted to see them fold.

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  3. #123
    Player Kernow's Avatar
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    Quote Originally Posted by Tazzmania View Post
    Behind a paywall but Iain Payton reporting:

    The Melbourne Rebels’ hopes of surviving beyond this season are swiftly fading after 10 administrative staff, including chief executive Baden Stephenson, were made redundant, with the remaining staff and coaches put on four-month contracts to see out the Super Rugby campaign
    Gutted for the likes of Sambo

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  4. #124
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    Quote Originally Posted by Kernow View Post
    Gutted for the likes of Sambo
    And Kevin Foote.

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  5. #125
    (Previously WFDS) WFDom's Avatar
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    Quote Originally Posted by Kernow View Post
    The Force game against the Rebels is the one I get most excited about; despite the history, I'd be gutted to see them fold.
    Absolutely!

    "Your own success is immeasurably greater when you're enemies, foes & rivals are left waining"

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    Great game, Fucken battled right through to the 80!

  6. #126
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    Nog wishing to dance on this grave is far too sad
    With the following exceptions
    1. Looks like Tim North has potentially lost some skin - he may need to do a real days work to break even
    2. Rebels assets $17300 include office furniture
    Does this include the desk on which our legal agreement was inadvertently left within the reach of said TN
    If so is potentially a collectors item
    Should twf consider a crowdfunded bid?

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  7. #127
    Player Kernow's Avatar
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    Quote Originally Posted by wholetruth View Post
    And Kevin Foote.
    Did he move at the same time as Dave?

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  8. #128
    Immortal Contributor shasta's Avatar
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    Quote Originally Posted by wallabydarnd View Post
    Does this include the desk on which our legal agreement was inadvertently left within the reach of said TN
    If so is potentially a collectors item
    Should twf consider a crowdfunded bid?
    I'll be bidding. That desk evidently comes with a built-in matter transporter. North & Co all swore they had no idea how it ended up on his desk. And who could doubt their veracity? Beam me up Scotty!

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  9. #129
    Immortal GIGS20's Avatar
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    Quote Originally Posted by Kernow View Post
    Did he move at the same time as Dave?
    YesWas assistant under Dave then took the top job when Dave was sacked.

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    C'mon the

  10. #130
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    Quote Originally Posted by wallabydarnd View Post
    Nog wishing to dance on this grave is far too sadWith the following exceptions 1. Looks like Tim North has potentially lost some skin - he may need to do a real days work to break even 2. Rebels assets $17300 include office furniture Does this include the desk on which our legal agreement was inadvertently left within the reach of said TN If so is potentially a collectors itemShould twf consider a crowdfunded bid?
    Not only Tim North getting his comeuppance. I saw a list of the board members and recognised a lot of names from the senate enquiry. People who have been heavily involved since 2011.
    You could sell tickets to the bonfire event for the table.

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    C'mon the

  11. #131
    Immortal jargan83's Avatar
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    My question is how much do they want for the two cars owned by the Rebels?

    I'll give the administrators $100 each.

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  12. #132
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    Quote Originally Posted by jargan83 View Post
    My question is how much do they want for the two cars owned by the Rebels?

    I'll give the administrators $100 each.
    The standard rate for anything Rebels is $1.00

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    C'mon the

  13. #133
    Immortal Contributor shasta's Avatar
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    Quote Originally Posted by GIGS20 View Post
    The standard rate for anything Rebels is $1.00
    I reckon the $100 bid was a typo. I'm only surprised your spell checker got it right.

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  14. #134
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    Quote Originally Posted by shasta View Post
    I reckon the $100 bid was a typo. I'm only surprised your spell checker got it right.
    not on my phone this morning

    my fat fingers hit the right keys 90% of the tijme

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    C'mon the

  15. #135
    Immortal jargan83's Avatar
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    I was feeling generous, firstly because it's payday and secondly because I felt bad for the Rebels and their 12 fans.

    No seriously...

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