Rugby Australia to target top NRL talent

[Last Week]

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

I think the independent commission can be thanked for that.

 

[gerg]

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.

geez I’d love to be a fly on the wall for that conversation. After RA shafted the Western Force they’d have to beg for him to rescue them and I’m not sure those wanker leather elbow patch wearing upper management is able to swallow ‘that level’ of pride?

 

[The Penguin #6.]

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

I get very nervous when I someone doing financial analysis whose avatar is called Munky.

 

[taste2taste]

geez I’d love to be a fly on the wall for that conversation. After RA shafted the Western Force they’d have to beg for him to rescue them and I’m not sure those wanker leather elbow patch wearing upper management is able to swallow ‘that level’ of pride?

Interestingly Twiggy was involved with one of the private equity groups that walked away from Rugby Australia ( they are called Taggaranga or something similar to that )

Twiggy has already shown he is happy to burn money for his beloved Force with that ridiculous Rugby comp he funded when the Force got kicked out.

If I were to look into my crystal ball, I'd say RA will be insolvent within 2 years, Twiggy will step in and take full control of RA and his wet dream will be complete. He'll make Eddie Jones wet dreams complete by telling him he can sign as many NRL players as he wants, the Wallabies will win the 2027 world cup and make Rugby great again.

 

[Wb1234]

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.

Judging by what he’s done at the force he should take over ra immediately lmao

 

[taste2taste]

Judging by what he’s done at the force he should take over ra immediately lmao

Good piont, Twiggy has the $ to buy the 15 best Rugby players in the world without blinking, so why are the Force always languishing last :/

 

[titoelcolombiano]

NRL should buy the ARU and ensure that it is always under our thumb. The reverse of whats going on in South Africa

 

[t-ba]

Good piont, Twiggy has the $ to buy the 15 best Rugby players in the world without blinking, so why are the Force always languishing last :/

How's that old saying go?

Asset rich, cash poor?

These merkins don't get wealthy spending their own dough.

 

[gerg]

Interestingly Twiggy was involved with one of the private equity groups that walked away from Rugby Australia ( they are called Taggaranga or something similar to that )

Twiggy has already shown he is happy to burn money for his beloved Force with that ridiculous Rugby comp he funded when the Force got kicked out.

If I were to look into my crystal ball, I'd say RA will be insolvent within 2 years, Twiggy will step in and take full control of RA and his wet dream will be complete. He'll make Eddie Jones wet dreams complete by telling him he can sign as many NRL players as he wants, the Wallabies will win the 2027 world cup and make Rugby great again.

I think you deserve a ‘full refund’ on that Crystal Ball because it’s clearly faulty.

 

[Fangs]

NRL should buy the ARU and ensure that it is always under our thumb. The reverse of whats going on in South Africa

Buy it then outlaw it being played in fee paying schools. All North shore white men and women must play league.

Might even be able to bring back the Bears.

 

[Wb1234]

How did the roosters manage this ?

half of what suaali is getting

 

[King-Gutho94]

I am sure Angus would love the chance to travel around Europe again in the green and gold.

He will have plenty of time on his hands with the wallabies.

 

[Perth Red]

Good piont, Twiggy has the $ to buy the 15 best Rugby players in the world without blinking, so why are the Force always languishing last :/

hes spending on wa jnrs. He’s pumping millions into junior union here to develop local players. the bloke earns around $800milla year, personally And worth around $32billion.
He could buy the whole wallabies, kangaroos and all blacks squad for force if he wanted. Tbh I’m surprised he hasnt. Mind you he’s getting divorced so he might be short of a dollar soon lol

Andrew Forrest earns $2.3m every day

It’s wealth generation to make the eyes water. Since Fortescue started paying dividends in 2011, its founder has collected, on average, $2.35 million per day in dividends.

www.afr.com

 

[Wb1234]

hes spending on wa jnrs. He’s pumping millions into junior union here to develop local players. the bloke earnt around $400mill last year, personally!
He could buy the whole wallabies, kangaroos and all blacks squad for force if he wanted. Tbh I’m surprised he hasnt.

Wow maybe he should pay the people of Perth to attend force games

 

[Perth Red]

How's that old saying go?

Asset rich, cash poor?

These merkins don't get wealthy spending their own dough.

Not in his case. $8bill cash and $24bill in company shares. Yeh you’re right there!

 

[Perth Red]

Wow maybe he should pay the people of Perth to attend force games

You can’t make a silk purse and all that! Even with his wealth I don’t think he could pay me enough

 

[t-ba]

Not in his case. $8bill cash and $24bill in company shares. Yeh you’re right there!

Cool how much of that has he spent on RU mate?

The Force still playing out of that shitbox eh?

Like, why bother with that failed private equity bid if you just got so much cash yourself?

 

[Captain Apollo]

How did the roosters manage this ?

half of what suaali is getting

Been talk about this going around for quite a while. I suspect his lower figure is because he's a lot older than Suaalii is.

 

[Foreign Legion]

‘You always buy an asset, not a liability’: V’landys takes swipe at rugby

As Rugby Australia made a $1.6 million offer to lure Roosters forward Angus Crichton to the 15-man game, V’landys fired back when asked about the prospect of the NRL buying out the struggling code

www.smh.com.au

 

[taste2taste]

‘You always buy an asset, not a liability’: V’landys takes swipe at rugby

As Rugby Australia made a $1.6 million offer to lure Roosters forward Angus Crichton to the 15-man game, V’landys fired back when asked about the prospect of the NRL buying out the struggling code

www.smh.com.au

That's about 100k per year more than he's getting at the Roosters.

He's rep days are over and he looked totally disinterested playing in the Roosters elimination final against the Storm, his stats were 4 carries for 24 meters and 1 turnover lol

Time to enjoy the easy money in union