Super Rugby
ARU confirm the sale of the Rebels
ESPN Staff
May 15, 2015
The Rebels is set to become privatised © Getty Images
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The Australian Rugby Union and Victorian Rugby Union have entered into an exclusive Heads of Agreement with Imperium Group, a Melbourne-based investment company, to acquire all shares in Melbourne Rebels Rugby Union Limited, the company that controls the Rebels.

ARU chief executive Bill Pulver said the national board had discussing the sale of the Rebels to ICG in recent months "and we're pleased to have reached agreement on the key terms of the deal".

"We are now progressing legal documentation and detailed due diligence is underway to finalise the transaction," Pulver said. "We expect a formal transfer of the company will be completed by 30 June 2015. We're confident the proposed new ownership structure will strengthen the club, with the prospective owners committed to ensure the Melbourne Rebels can build on the on-field momentum of recent seasons and grow Rugby in Victoria more generally."

Rebels chairman Jonathan Ling said the transaction when completed would "secure the financial future" of the franchise.

"While this is very good news for the club, our business partners, our fans and members, right now it's business as usual, with our focus firmly on supporting the Rebels in their quest to be the best they can in the Asteron Life Super Rugby competition and make Melbourne truly proud."

The proposed sale will see Melbourne Rebels Rugby Union and Victorian Rugby Union continuing to operate as separate businesses "while working together to grow rugby in Victoria".

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