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Rugby Australia to target top NRL talent

SpaceMonkey

Immortal
Messages
37,850
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:


 

taste2taste

Juniors
Messages
1,802
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:D

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

SpaceMonkey

Immortal
Messages
37,850
Did I read that correctly ? RA are borrowing 90m so they can pay off thier last loan of 40 m :D :D

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
 

Munky

Coach
Messages
10,366
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
 
Last edited:

Wb1234

Referee
Messages
22,440
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
 

Perth Red

Post Whore
Messages
65,696
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

Referee
Messages
22,440
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

Post Whore
Messages
65,696
Did I read that correctly ? RA are borrowing 90m so they can pay off thier last loan of 40 m :D :D

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

Coach
Messages
13,773
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 :D
Eto Nabuli will always be the winner here
 

taste2taste

Juniors
Messages
1,802
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.
 
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