Rugby Australia to target top NRL talent

[Steel Saints]

Full of lols

Dear oh dear.

 

[SpaceMonkey]

It used to often seem like Rugby Union had an advantage over League because it was run by well-connected corporate types while League was largely run by ex-footballers in a “jobs for the boys” way. How times have changed, and ironically it seems that a lot of Union’s mismanagement problems have stemmed from corporate/boardroom culture:

Michael Pascoe: Weasel words and gaslighting at Rugby Australia

There’s often a precarious relationship between a chairman and CEO – and even a high-profle Wallabies coach.

thenewdaily.com.au

 

[taste2taste]

Angus Crichtons switch to rugby has gone very quiet. Danny Wielder reported that last Monday RA would make a formal offer and it would be officially announced mid last week....I'm guessing thier offer might have been a little less than what Angus was expecting

If I were Suaalii manager I'd be asking for payment to be made up front.

 

[taste2taste]

Full of lols

Did I read that correctly ? RA are borrowing 90m so they can pay off thier last loan of 40 m

What lender would be crazy enough to lend them any money ? Especially after Stan came out said there next offer will be lower than thier current deal.

 

[docbrown]

Nine to cut how much it pays union as it builds a warchest for the nrl

the union World Cup here is going to be a tough sell that’s for sure

As much as I hate 9 this is pretty much what I've heard too and what we were talking about months ago.

 

[Incorrect]

So many people write 'loosing' when they are trying to spell losing.

Why.

*lossing

 

[SpaceMonkey]

Did I read that correctly ? RA are borrowing 90m so they can pay off thier last loan of 40 m

What lender would be crazy enough to lend them any money ? Especially after Stan came out said there next offer will be lower than thier current deal.

I assume they have assets that have been offered up as security

 

[Wb1234]

As much as I hate 9 this is pretty much what I've heard too and what we were talking about months ago.

Is the nrl bid from Stan and nein going to be a blockbuster ?

 

[docbrown]

Is the nrl bid from Stan and nein going to be a blockbuster ?

It's way too soon for that. I've spoken previously about the reasons why though.

 

[Chins get the wins]

The NRL need to step in and make sure 9 sack almost everyone currently used on broadcasts if they buy the lot.

 

[Wb1234]

The NRL need to step in and make sure 9 sack almost everyone currently used on broadcasts if they buy the lot.

The whole foxsports crew would be available

 

[The Penguin #6.]

The whole foxsports crew would be available.

Even Blocker.

 

[Munky]

I assume they have assets that have been offered up as security

At 31 December 2022 the balance sheet had a $4m deficit.

For the non accountants, if they were to liquidate they'd be in a $4m hole.

One of the assets is a $16m intangible 'rights to future lease arrangement'. Associated liability is $5m.

This $11m of their net assets doesn't really exist and can't be cashed out.

They're really at a $20m deficit if my reading of the financials is correct.

They have no assets to use as collateral.

I'd love to see the impairment testing done by the auditor. I can't imagine the old boy at KPMG wants to be the one saying the ARU is no longer a going concern.

Source https://australia.rugby/about/about-us/governance

Edit: Did some further reading. The interest on their loan is 7% above the RBA bank bill swap rate. Currently the swap rate is about 4%.

11% is loan shark rates for an entity like the ARU.

Lol

 

[Wb1234]

At 31 December 2022 the balance sheet had a $4m deficit.

For the non accountants, if they were to liquidate they'd be in a $4m hole.

One of the assets is a $16m intangible 'rights to future lease arrangement'. Associated liability is $5m.

This $11m of their net assets doesn't really exist and can't be cashed out.

They're really at a $20m deficit if my reading of the financials is correct.

They have no assets to use as collateral.

I'd love to see the impairment testing done by the auditor. I can't imagine the old boy at KPMG wants to be the one saying the ARU is no longer a going concern.

Source https://australia.rugby/about/about-us/governance

Edit: Did some further reading. The interest on their loan is 7% above the RBA bank bill swap rate. Currently the deal is rate is about 4%.

11% is loan shark rates for an entity like the ARU.

Their “assets” are profits from the lions tour and World Cup

 

[Munky]

Their “assets” are profits from the lions tour and World Cup

The Lions tour is three sold out stadiums.

So essentially the equivalent of a single annual origin series every twelve years.

Double lol.

 

[Perth Red]

Cripes I don't want Stan to get the pay TV/streaming rights. Just more of the same old tired Channel Nein style coverage. Yes, Fox Sports has its issues too, but Nein have been far too complacent for far too long with its presentation/promotion of rugby league. In my opinion, they need a boot up the derriere.

Yeh it would be horrible, but hopefully their bid will drive up the price for whoever eventually wins it! Would nrl dare cut the news ltd apron strings? Will be interesting to see.

 

[Wb1234]

The Lions tour is three sold out stadiums.

So essentially the equivalent of a single annual origin series every twelve years.

Double lol.

They’ve already spent most of the expected profits anyway but it’s like 26 million profit

travelling fans would be 20k

how much money they will make from their World Cup would be interesting

 

[Perth Red]

Did I read that correctly ? RA are borrowing 90m so they can pay off thier last loan of 40 m

What lender would be crazy enough to lend them any money ? Especially after Stan came out said there next offer will be lower than thier current deal.

Twiggy? Under the bed change for him. Wouldn’t surprise me if he makes a move to take control of the ARU.

 

[King hit]

The comment that always gets me is they genuinely believe NRL players can't make it in rugby...thier game is so much more advanced that a league player would be totally out of thier depth.

Cooper Vuna and Curtis Rona say hold my beer

Eto Nabuli will always be the winner here

 

[taste2taste]

Twiggy? Under the bed change for him. Wouldn’t surprise me if he makes a move to take control of the ARU.

That's the great thing about being part of the old boys, there's always some one to bail you out.

1 phone call to Twiggy and RA will be dept free and could sign any NRL player they wanted.