Fiji Rugby seeks private investment to support Super Rugby bid
“All of these boys are farmers...”
As announced previously, Fiji Rugby has been given the opportunity to field a Fijian team in the 2022 Super Rugby competition, subject to meeting a range of conditions set down by New Zealand Rugby.
Fiji Rugby is delighted to announce that it has now completed one of the key steps in finalising its Business Plan which will underpin the Fijian Drua’s proposed entry in 2022.
FRU chief executive officer,
John O’Connor said: “The prospect of the Fijian Drua playing in Super Rugby will be a dream come true, if we can meet the financial hurdles needed to sustain such a team.
“Having the resources to offer competitive playing contracts to not only bring our best players home, but to keep our best local talent in Fiji is our key objective. We want to field a team that is capable of reaching the finals in its’ first year and winning the competition within 5 years.”
The Fiji Airways Fijian Drua celebrate their 2018 National Rugby Championship 36-26 title win over QLD Country at Lautoka’s Churchill Park. Photo: FRU
The Business Plan envisages playing at least six home games in Fiji each year, against blockbuster teams such as the Chiefs, Crusaders, Blues, Reds and Brumbies.
“The Super rugby games held in Fiji in recent years show the passion of our fans and support for Super Rugby, and with a Fijian team representing our country, we are very confident that the local Fijians will turn out to passionately support the Drua,” he added.
CONFIDENTIAL
The confidential Business Plan provided to NZ Rugby not only outlines the financial targets and the initial playing squad and coaching structure, but also details the complete administrative structures to support the team.
O’Connor noted that like the arrangements for the Drua’s entry into the Australia’s National Rugby Championship in recent years, the operations of the Drua will be conducted through a separate company structure, with its’ own Board of Directors, and administration, separate to the FRU.
“We are adopting a structure very similar to those which operate at existing provincial unions in Australia & New Zealand,” O’Connor said.
“The team will have their own head coach, and coaching structure, and there will be a chief executive officer and back office support team. We expect to have a 37 man playing squad in Year One, with coaching and administration staff of up to a further 28 people.”
CONDITIONS
The new entrant will need to meet stringent financial conditions set down by NZ Rugby which include the requirement to hold substantial cash assets and provide financial guarantees to ensure the team’s long term viability.
“We have been aware for some time that we would need to raise capital to meet the financial hurdles. We want the team to be properly capitalised so that it can be in place for twenty years and more, not just a few. NZ Rugby rightfully insists on there being enough financial resources to sustain team operations even if we have a bad year or two,” O’Connor said. As a result of the financial requirements, Fiji Rugby has decided to seek private capital and is offering a majority ownership of the entity which will own and operate the team. Together with its’ Business Plan, FRU has also prepared a detailed Information Memorandum to outline the opportunity and attract Investors.
“Private capital is a fact of life for sporting teams and franchises around the world, and we are embracing it, at the same time making sure that Fiji Rugby has an appropriate say in policy and key decisions around the team.
“We intend to seek NZ$10 million in capital and we’re confident that our proposal will attract strong interest from Investors in Australia, New Zealand and around the world. Ideally, we’d like Fijian investors also, but we’re looking for either a single investor, or at most 3 or 4 entities to back our team”.
OPPORTUNITY
FRU chairman, Conway Beg said: “This is a transformational opportunity for Fiji Rugby. Once we attract the capital, we can finally bring our best players home, keep our best local players and have them together in one place, training and playing together week in and week out.
“Developing combinations, and having consistent skill development, strength and conditioning support and all of the usual facilities that other Super Rugby teams enjoy in the region. We’re looking forward to bringing the Fijian style of rugby to Super Rugby in 2022!”
FRU’s general manager commercial Brian Thorburn will lead the capital raising, and will work with an appointed financial advisor to finalise the transaction by the end of March.
Beg added: “We have to get the capital in place. Otherwise we won’t be able to make the dream a reality. Once that’s done, we’ll share lots more information on our plans.”
Despite being one of the two teams that had to be eliminated from the upcoming Leg 3 of the Super Sevens Series, the Bukuya 7s are confident of doing better the next time.
The Bukuya team were the
16th team that played in the second leg of the Series at Prince Charles Park in Nadi.
They replaced Yamacia who was suspended by the Fiji Rugby Union and finished at the bottom of the Series table with Dominion Brothers.
However, Bukuya team captain Atama Vuki was optimistic of doing better in the next season.
“If given another opportunity we would like to take on the giants of 7s rugby in the country,” he said.
“We thank the Fiji Rugby Union for giving us the chance to participate in this tournament and we’ve really learnt a lot playing against these big teams.
“We did well in some of our
games but there were some areas that we need to improve on and do better in our next tournament.”
The Nadi based-team are eagerly waiting for another opportunity to be part of the Super Sevens Series next season.
“This was our learning platform and we learnt a lot from the top teams that had many current and former national reps,” he added.
“I thank the boys and those that came to support us and to everyone that helped us reach this stage.
“We will continue to grow and expose ourselves in many local tournaments and become one of the Top 16 teams in the country.” Bukuya is located in the highlands of Ba, where former national rugby players Filimoni Botitu, Watisoni Votu, All Blacks speedster Joeli Vidiri and the late Penisoni Waki hail from.
Sacrifice and commitment by the Raiwasa Taveuni rugby 7s team off the field has been a booster in their performance in the Fiji Rugby Super Sevens Series. They are furthest travelling team in the past two tournaments coming all the way from Taveuni. However, they remain in the top four position on the Series points table.
Their sacrifice and commitment as a team started back at their own plantations seeking funds to assist their club fundraising in order to cater for their boat fares and other costs to reach the games venue. Team manager Seba Vulakoro said team work on and off the field have enabled them to travel places and showcase their talents.
“All of these boys are farmers and they have been working on their farms and helping with the team’s fundraising back in Taveuni to cater their finances for travels,” said Vulakoro.
“Our boat fare itself is close to $2000 one way and then we had to fundraise in-order to cater other little costs. We are thankful to Fiji Rugby for giving a chance to participate in the tournament and they have also given us some money to help us in the tournament and we are grateful.”
Raiwasa Taveuni are at second place with 36 points after bowing out in the Cup semifinal against Police White last weekend. However, the Taveuni based side will be a team to look out for in the third leg in Vanua Levu next month.
Raiwasa Taveuni are pooled against Army, Tabadamu and the 16th team to be confirmed from the North in Pool C.