ACT Brumbies chairman Matt Nobbs has shut down suggestions the Super Rugby franchise is following the path of the Melbourne Rebels by heading into voluntary administration and dismissed any suggestion of a potential merger.
On Monday night, The Australian reported the Brumbies were heading down the path of the Rebels, who are said to have debts of up to $20 million, according to the newspaper. The Roar understands that figure is closer to $15m.
But Nobbs slammed suggestions the Brumbies were about to head under.
“We would not even go into voluntary administration because we don’t have any (substantial) debt,” Nobbs told The Roar.
“The only debt we have is to Rugby Australia, which originally was a grant, but then was converted by Rugby Australia into an interest bearing loan.
“It was $1.7m, it’s now 1.1m. Everything is up to date, and we’ve never fallen behind.
“We report monthly on our financials. It was a condition of the loan.”
Brumbies chairman Matt Nobbs says the Super Rugby franchise won’t be leaving Canberra. (Photo by Daniel Pockett/Getty Images)
While all…