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RugbyWA announced a unique fan ownership model in a bid to save the Western Force Super Rugby franchise from going under.
The sell-off of 5000 ownership certificates will be an Australian first, with a $1000 price tag set for each share equating to a total cash injection of $5 million dollars for the team.
The announcement comes after a prolonged buildup of pressure on the franchise, which the ARU had to bailout earlier this year by purchasing their Super Rugby license and bringing them under the “high performance’ structure.
The ownership certificates are not like stocks or shares, they are non-transferable except to family members, but can be sold back to the club.
They give the owner a range of benefits including voting rights and input into staff reappointments and match day activities, as well as discounts for merchandise.
A more detailed list of benefits was included in the media release:
• Voting rights to an advisory committee and the new Western Force board of management
• Approval of the reappointment of key positions within the Western Force organisation
• Input into match day and team activities and specific owner’s functions
• A range of discounts on both Western Force membership purchases and Rugby WA player registration fees
A new board will be created with three certificate holders included along with representatives from RugbyWA and the Australian Rugby Union.
President of RugbyWA Hans Sauer was quoted in the official statement from the club saying:
“The introduction of the Western Force into the Super Rugby competition took the profile and interest in the code in Western Australia to a whole other level. We hope that Western Australians will join us once again as we fight to save the Western Force,” he said.
Head coach David Wessels added:
“We hope our fans get behind this initiative because Western Australia losing the opportunity to participate in the toughest and highest profile international provincial sporting competition in the world is a disservice to anyone who loves sport in Western Australia, not just rugby,” he said.
Force general manager Mark Sinderberry stated:
“All we can do is say to the ARU, ‘We’ve got this pot of money here, we’ve proposed how it should work, it ticks every box you’ve mentioned; if you are going to throw us out now you are going to throw away all of this’.”
Anyone can register their interest for the purchase of ownership certificates here.
The model has proven to work for clubs like AFC Wimbledon, Barcelona FC and the Green Bay Packers. But can it work in Australia for a rugby team? What do you think Roarers?
Join The Roar rugby editor Christy Doran, former Wallaby Matt Toomua and a cast of regular and special guests as they look at the biggest issues in the game on The Roar Rugby Podcast. If you’re looking for great odds on the next game check out Aussie bookmaker PlayUp. Chances are you’re about to lose. Set a deposit limit.