Australian Rugby Union Protected From Eventual Financial Losses From Waratahs Sale

The Australian Rugby Union "will be 'firewalled' from any financial losses by prospective buyers of Super Rugby champions the NSW Waratahs to avoid another Melbourne Rebels disaster," according to Bret Harris of THE AUSTRALIAN. The NSWRU "is negotiating with two private equity investors to buy the Waratahs’ Super Rugby licence, including the management company that operates ANZ Stadium at Homebush." It is understood the ARU, which is also part of the private equity negotiations, "will protect itself from any financial losses incurred by the private owners." The ARU "was saddled with millions of dollars in losses after the Rebels’ private owners quit the franchise a couple of years ago, and is still bankrolling the team." The Waratahs "are hoping to conclude negotiations with a private equity partner before Christmas, which would be at least two months later than its original deadline" (THE AUSTRALIAN, 12/5).