The Melbourne Rebels may be saved by an 11th hour private equity cash injection that will see the bankrupt Super Rugby side relocate and share facilities with an A-League club.
A private equity-backed consortium led by former Qantas chairman Leigh Clifford says it’s close to raising $30 million to invest into the struggling Rebels.
The Rebels looked set to see out this season and then dissolve after being placed into voluntary administration in January with debts exceeding $23 million.
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But now there are plans to relocate the club to Melbourne’s western suburbs where a 15,000-seat stadium is being built in Tarneit for A-League side Western United.
Rugby Australia took back the Rebels’ licence when it entered administration and the consortium would need the support of the governing body to save the club.
The consortium released a statement on Wednesday stating they have nearly raised between $20 million and $30 million from private equity.
“This would be the game changer that the Melbourne Rebels and the sport of rugby desperately needs in Victoria,” consortium spokesperson and current Melbourne Rebels director Georgia Widdup said.
“We have an exciting vision and a detailed, common-sense plan to grow the sport of rugby in the fastest-growing municipality in Australia.
“The Rebels are committed to the women’s game, the Pasifika community and important programs for the western region’s youth and this move will enable us to significantly expand these critical areas.
“This is an opportunity to grow rugby’s grassroots supporter base and attract significant new
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