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As private equity nears, Rugby Australia chief executive Andy Marinos says the governing body is in the process of recruiting a new high-performance manager and hasn’t ruled out making another play at repatriating Australia’s Irish Rugby Football Union manager David Nucifora.
The governing body has spent the past two years getting its ducks in a row.
After being on the brink of bankruptcy at the onset of COVID-19, RA is set to post a profit at its Annual General Meeting later this month.
While the governing body is still paying off its debt after borrowing $40 million to stay afloat, there is genuine optimism about the years ahead.
Rugby Australia’s private equity bid is moving to its final stages. Photo Matt King/Getty Images
After last year’s brinksmanship with New Zealand Rugby from chairman Hamish McLennan, RA is getting an extra $16 million over the next two years from its trans-Tasman partners after threatening to walk away. That partnership will see the respective unions split their broadcast revenue from 2026.
But with money-making events in the British and Irish Lions tour, as well as the 2027 and 2029 men’s and women’s World Cups, on the horizon, RA is forecasting at least an extra $100m to flow through.
The Roar can reveal RA will sell up to 19.5 per cent to a private equity firm over the coming months, which could bring in anywhere from $150-$250 million depending on how much they sell off – of which the governing body will keep 75 per cent of the revenue to ensure that rugby union in Australia doesn’t ever risk going under once more and, indeed, thrives into the future.
It’s believed the governing body wants to have a deal in place by no later than September.
“We’ve just started early engagement with the market,” Marinos told reporters.
“We’ve been through a very extensive consultation process with all of our member unions, Super Rugby franchises and players’ association, so I’m quite relieved all the desktop work that we’ve been doing, we’re now able to put that into the market and test the market and see what investor appetite there is, and it’s been positive so far.”
Rugby Australia chairman Hamish McLennan has led the governing body’s private equity bid. Photo: Matt King/Getty Images
The Roar understands it’s Silver Lake’s – the same private equity firm that NZR has partnered with – to lose, but there are a number of candidates including CVC that RA could yet partner with.
The extra money shapes as offering Rugby Australia a second chance, having squandered their war chest following the 2003 World Cup.
Centralisation – or alignment – shapes as an important move the governing body is trying to get across the line.
For years the governing body has tried to get greater alignment, but haven’t had the momentum nor the support from each of the states to be able to usher through the fundamental change in practise.
The governing body hopes to help clear the debt of all the respective states, before getting everyone on board.
The future of Australian rugby is at stake, with the respective unions bleeding chips for years and success, both at provincial and national level, is pivotal to drive success and sustainability.
While RA and New Zealand Rugby late last year agreed to continue playing Super Rugby until 2030, the competition needs to become more competitive for the respective Unions to thrive.
Currently, four of Australia’s five franchises make up the bottom five of this year’s Super Rugby competition at the halfway point of the tournament.
Weeks after returning Wallabies coach Eddie Jones described Australia’s performances against New Zealand as “disappointing”, Marinos said the national side would likely struggle at the World Cup if more teams other than the Brumbies started to find form.
“Is it OK? No, obviously we’d would want more of our teams to be sitting at the top half of the ladder,” Marinos said.
Australian rugby’s slow start to 2023 has added to the pressures being felt by Rugby Australia. Photo Hagen Hopkins/Getty Images
It’s hoped that getting Australia’s Super Rugby sides working closer together, including the respective strength and conditioning programs, will help on the field.
“Absolutely and well socialised with all the clubs and all the key stakeholders,” Marinos said after being asked whether RA had a clear plan about which direction of centralisation they wanted to go down.
“Certainly a more centralised focus around better management of our elite players and the junior players coming through the pathways and academies.
“There’s certainly a migration to make sure that there’s greater alignment across, particularly the S&C, medical and the coaching, so we’re all pulling in work in the same direction.
“There is absolutely a plan. It’s probably at the back end of us coming through potentially a capital raise exercise, us being able to properly resource and make sure it’s adequately resourced to deliver the program.”
Marinos flew to Dublin in late 2021 to sound out Nucifora – the long-time IRFU high performance manager and former Wallaby turned coach, who attempted to usher through change at RA alongside Robbie Deans – for his interest in returning to RA in a similar role.
Nucifora told The Roar in November that while he would likely finish up in his current role following next year’s Olympics but said that he had “had my go” at ushering through change previously and it wouldn’t “be wise to revisit”.
IRFU performance director David Nucifora has overseen Ireland’s rise to the top of world rugby. Photo: Brendan Moran/Sportsfile via Getty Images
Nonetheless, Nucifora encouraged RA to move to a centralised model.
“I do. I do. My challenge to them back there is it is doable, it is achievable, they can do it. They’ve just got to start making some hard choices,” he said.
Marinos said he would likely reach out to Nucifora again.
“Would we talk to him? I don’t see any reason why you wouldn’t talk if we were going to be going to market and looking at that role,” he said.
“We’ll certainly cast the net far and wide, but also be really clear on making sure it’s the right fit that’s going to work with the existing coaching structure because that synergy is really important as you go forward.”
Strangely, the man who helped start Scotland and Ireland’s high-performance programs and put the structures in place for Nucifora to build on, Steve Anderson, has yet to be contacted despite sitting in Rockhampton.
Meanwhile, Marinos said he had no issues with Jones being the sole selector for this year’s World Cup campaign.
“He will have his assistant coaches that’ll form part of a panel with him, but ultimately it’s got to be his decision as the head coach,” Marinos said.
The decision is a move away from the failed 2019 campaign, where Michael Cheika’s power was reined in after then-CEO Raelene Castle created a director of rugby role and independent selector ahead of the World Cup.
Eddie Jones at Manly Savers’ rugby club. Photo: Karen Watson
Marinos added that he wasn’t concerned Jones hadn’t yet assembled his entire coaching team and said he was confident the Wallabies were on track to mount a late charge ahead of their first training camp next week on the Gold Coast.
“There’s a few more that we’re busy still finalising and some of them are going to be coming from abroad, so getting them getting through and into the country [is still needed],” Marinos said.
“But the majority of the staff and what Eddie wants, in terms of this camp, are going to be up there and they’ve been in a lot of preparation and planning ahead of it.
“I’ve got a huge amount of confidence in Eddie. He’s a seasoned campaigner. He’s been very clear and intentional from day one exactly what the plan for this year is all about and how he’s going to go about it. I’ve got full confidence that he’s across the detail. He’s been very meticulous in the planning to date.
“The players have been well engaged and they all understand what is required going into the camp and they’ll certainly have a very clear understanding of what’s expected of them going out of the camp as well.
“We’ve built into the schedule some additional time at the back end of Super Rugby before the internationals starts, so that will also give him some more time as a group, understanding that it’s quite limited in terms of the actual preparation time once the international season kicks off.”
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.