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…
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