Rugby Australia has confirmed 5 employees on the Melbourne Rebels together with the CEO have misplaced their jobs because the financially-stricken Super Rugby membership strikes nearer to shutting its doorways for good.
Players are persevering with to function as regular per week out for his or her season-opening conflict with a assure from RA that they might play by way of the 2024 Super Rugby Pacific competitors.
But they are going to achieve this with out membership CEO Baden Stephenson who has misplaced his job with the membership dealing with what appear to be insurmountable monetary points together with an enormous $11 million tax invoice.
The Rebels are in administration and it;s understood a lot of the membership’s employees outdoors the soccer division not have jobs.
“RA can confirm that the role of Rebels CEO, currently held by Baden Stephenson, has been made redundant,” the governing physique stated in a press release on Thursday.
“A new CEO contract has not been offered for Baden to continue with the club. RA would like to thank Baden for his years of work at the club and recognises this has been a difficult period for him and his team.”
“Affected staff members (including those offered contracts by Rugby Australia) will be able to claim a redundancy package via the government’s Fair Entitlements Guarantee (FEG) scheme.”
Stephenson had been on the membership for a decade because it lurched in the direction of the present monetary disaster.
The Rebels have money owed of greater than $20 million and the board had been locked in talks with RA demanding funds they imagine are owed to them by the governing physique.
The way forward for the membership is within the palms of the directors at PwC, with paperwork exhibiting that it solely had $17,300 within the financial institution once they took over. .
Rugby Australia should area 5 groups within the Super Rugby to honour its TV rights commitments this 12 months, however there are questions over whether or not it could possibly help 5 groups into the longer term.
Any deal to avoid wasting the Rebels would wish to incorporate a Victorian Government bailout.
Players, together with Wallabies star Taniela Tupou, are believed to already be fielding presents from abroad as they ponder their future.
Source: www.news.com.au
