Private equity now in Oz rugby scrum
The resolution of the hotly-contested licensing of the new fifth Australian Super 15 rugby club known as the Australian Rugby Union (ARU), owned by the Melbourne Rebels consortium, has kicked off speculation that private equity will be a new player to be reckoned with in Australian rugby going forward.
Certainly, that is the view expressed by ARU boss John O’Neill.
The issue that dragged on for months was whether commercial or ‘community’ interests would control the new team. But with stiffening competition from the AFL, Rugby League and football in the crowded Australian sports market, the ARU needed to attract additional funding from the private sector.
The Rebels are looking to private equity investment – specifically a consortium led by high-profile entrepreneur Harold Mitchell to achieve this. So it’s private investment control for the first time. It’s unlikely to be the last, however. The NSW Waratahs have just announced that they are planning to split off the professional and community aspects of the game, effectively clearing the field for another stake sale.
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