The Rebels club wasplaced into voluntary administration earlier this year as the group’s debts topped $23 million. This included $2 million owed to Victorian government entities the Melbourne Olympic Park Trust and the State Revenue Office.
The Australian Taxation Office claims it is owed $11 million by the club and has issued penalty notices to the club’s directors,which make them personally liable for the tax debt. The administrator from PwC,Stephen Longley,has been waiting to receive a final plan from the rescue team,which will need the support of key players including Rugby Australia and the tax office. Rugby Australia took back the club’s licence when it entered administration.
In a statement released on Wednesday,the consortium said it was closing in on raising between $20 million and $30 million from private equity to invest in the Rebels over a number of years.
The deal has been led by Clifford,a former chairman of Qantas and former chief executive of Rio Tinto,to ensure the sport continues at a high level in Victoria. The federal government and Wyndham City Council have been briefed on the plan.
Consortium spokesperson and current Melbourne Rebels director Georgia Widdup said the move to Tarneit “would be the game-changer that the Melbourne Rebels and the sport of rugby desperately needs in Victoria”.
“We have an exciting vision and a detailed,common-sense plan to grow the sport of rugby in the fastest-growing municipality in Australia,” Widdup said.