Administrators for the Melbourne Rebels say the rugby union club may have operated insolvent for more than five years, a situation it blamed on cost and funding pressures that coincided with low match-day and sponsorship revenue.
PwC, which released its report to the embattled club’s creditors on Wednesday night, recommends it be rescued under a deed of arrangement rather than liquidated, to ensure creditors and staff receive the most money possible.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
