Foundation investors of Melbourne Rebels gift 100 per cent of shares to Victorian Rugby Union

THE foundation investors of the Melbourne Rebels have gifted 100 per cent of their shares to the Victorian Rugby Union, giving the local governing body full ownership of the Super Rugby franchise.

Victorian Rugby now owns Rebels

THE foundation investors of the Melbourne Rebels have gifted 100 per cent of their shares to the Victorian Rugby Union, giving the local governing body full ownership of the Super Rugby franchise.

Australian Rugby Union chairman Bill Pulver made the announcement today, placing the team in the hands of the Victorian rugby community.

Rebels chairman Harold Mitchell AC and club shareholders Bob Dalziel, Lyndsey Cattermole, Alan Winney, Ralph D'Silva, Gary Gray, Paul Kirk, Leon L'Huillier, David Ogilvy and Michael Bartlett have signed a term sheet detailing the transfer of their shares.

As part of the transfer of ownership, Mitchell will pass on his role to newly proposed Chairman, Mr Jonathan Ling.

"It's always been my plan to hand ownership of the Melbourne Rebels to the Rugby family," Mitchell said.

"All sports need to embrace their grassroots. Ownership of the Melbourne Rebels is now in the best place - the Victorian Rugby Community.

"I'm delighted to have played a part in establishing the club in Melbourne."

There was no financial transaction involved, a magnanimous decision from the shareholders who invested millions over their short-term involvement in the club.

New Rebels chief executive officer Rob Clarke paid tribute to the efforts of these shareholders and their generosity.

"The legacy of the founding shareholders will live through each Rebel or Victorian representative from our local Rugby community who have the honour of representing Australia.

"There were 28,658 reasons on Tuesday night as to why Melbourne deserved a Super Rugby team, and it was the wisdom, vision and generous support of a few that has changed the sporting landscape in Australia's sporting capital.

Pulver said the ARU would continue to support the Rebels and the VRU.

"The Australian Rugby Union will continue its commitment in nurturing the Rebels, helping to build a sustainable and successful sporting organisation for future years." Pulver said.

"Australian Rugby feels a great debt to Harold Mitchell and the Rebels' shareholders for their vision and this generous deed, which will further develop the game of Rugby for all Victorians to enjoy."