Waratahs coach Michael Cheika denies Toulon talk, but future could rest on takeover bids

MICHAEL Cheika has denied reports he was being courted by Toulon but the outcome of private equity bids for the Waratahs could determine his future.

Michael Cheika talks to his team during Waratahs training at Kippax Oval,Moore Park.Picture Gregg Porteous

MICHAEL Cheika has denied reports he was being courted by French mega-club Toulon but the outcome of private equity takeover bids for the Waratahs could determine the coach’s future.

Cheika is on contract with the Waratahs until the end of next season but has already opened talks with the club about extending his deal in 2016 and beyond.

The European Cup-winning coach remains a target of overseas clubs, as well, however and reports yesterday said Toulon were looking at making a play for Cheika on a $US750,000-a-year contract.

Asked about a possible back to the Top 14, where he once coach Stade Francais, Cheika laughed off the suggestion by joking: “Only 750,000? Half the team is going to get more money than that! I thought I’d get more if I was going to Toulon.”

“No, no, no. I think there is some fantasy land going on at the moment, but it’s all good fun to read,” he added.

Given the coach is understood to be keen to re-sign with the Waratahs, the Toulon link will still serve as excellent leverage in ongoing contract talks, and so too the fact Cheika spent the first week of the June break in Paris.

But given the Waratahs are set to be under new ownership next season, negotiations with Cheika would appear to be dependant on the work of an ARU sub-committee currently interviewing several private equity consortiums keen to run the Tahs.

Rival consortiums include one featuring Bob Dwyer, David Shein, Dilip Kumar and Rocky Elsom, another with Pet Resorts owner David Levy and a third with a mystery bidder.

The groups are set to pay up to $2m a year to the NSWRU for the Waratahs licence, which funds the community game in NSW. That capital injection would free up the financially struggling Waratahs to retain its operating profit, of which a large chunk is currently used to lay the licence fee.

It is understood the ARU board will be presented with the details of the private equity bids on Monday, along with a recommendation from its investigating committee.

Originally published as Waratahs coach Michael Cheika denies Toulon talk, but future could rest on takeover bids