Super Rugby side Rebels sold as doubts swirl over future in competition
Sunday 6 August 2017 09:08, UK
The licence to run the Rebels Super Rugby team has been transferred to the Victoria Rugby Union from private ownership in a move aimed at making it more difficult for the Australian Rugby Union (ARU) to shut the franchise down.
The ARU has committed to cull either the Rebels or the Perth-based Western Force as part of a revamp of the competition for next season.
Force entered into arbitration with the governing body last week and if the mediation comes out in favour of the Western Australian side, the ARU's options will be limited.
One option would have been to buy out Rebels owner Imperium Sports Management (ISM) and close down the team, but the transfer of ownership to the VRU could have stymied that potential move.
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And ISM managing director Andrew Cox believes the transfer has removed the axe hanging over the head of the franchise completely.
"Its exciting for the Melbourne Rebels and local rugby that, with the VRU, we've been able to secure the future of the Super Rugby club," he said.
An ARU statement on Saturday made it clear that the governing body had not been informed of the transfer of ownership and indicated they would need to approve it.
A statement from the VRU on Sunday, however, said they had held an ARU-approved "put option" - an agreement which allows but does not oblige a party to purchase shares for a fixed price by a future date - in place since June 2015.
"Today's announcement sets in place the foundations for a secure and positive future for the Melbourne Rebels and Victorian Rugby," the statement concluded.
Local media reported over the weekend that ISM, who took control of the team in 2015, had sold the shares for a single Australian dollar.
Southern hemisphere rugby's governing body SANZAAR agreed earlier this year to reduce Super Rugby to 15 teams from next season against a backdrop of falling revenues and fan interest after the expansion to 18 sides last year.
