HomeRugbyMelbourne Rebels have $17k in the bank, dire financial situation explained, merger...

Melbourne Rebels have $17k in the bank, dire financial situation explained, merger with Moana Pasifika, latest news

The Melbourne Rebels could be told they’ll be closing their doors within weeks with revelations the ailing Super Rugby club has just $17,300 in the bank.

While their 2024 future is secure beyond that remains a major question.

The Age reports the Rebels’ dire financial situation was revealed in a creditors meeting held last week, which was then filed to the Australian Securities and Investments Commission.

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The team has entered voluntary administration and auditors from PwC have found they owe over $20 million, including:

– $11.6 million to the tax office;

– $5.7 million to board members;

– $2.8 million to suppliers;

– $1.1 million in unpaid stadium fees;

– $720k to the state revenue office;

– $250k in employee…

Read the Full News at www.foxsports.com.au
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Neuro Adminhttps://sportyjones.com/
I'm Adam Smith, your go-to sports aficionado from the land down under. My heart beats for cricket, rugby, and Aussie Rules footy. With over a decade in sports writing, I bring you the inside scoop on all things sports at SportyJones.com. Let's dive into the action!
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