this isn't the first time they've had to cry poor , going to the Govt " several " times to get assistance
they unlike their weathy cousins the Raiders .. cannot afford to be without a sponsor for any length of time
& will need the ARU to take over their financial affairs ..
makes a mockery of beaussies ludicrous claim they are the ACT's numb one sports team
they can't pay the electricity bill at their offices
http://www.foxsports.com.au/rugby/super ... public_rss
The Brumbies are floundering financially following the late withdrawal of their intended naming rights backer, Chinese company Huawei, from a four-year $4 million-plus sponsorship of the club.
The Australian Rugby Union, which recently announced an $8m loss this year, will almost certainly have to step in and save the franchise.
Brumbies chief executive Andrew Fagan declined to comment on Friday, but it is known he was alerted on Thursday that Huawei, China's largest privately owned company and one of the world's leading manufacturers of telecommunications equipment, was backing out of a deal he believed was as good as done.
Fagan, Brumbies chairman Sean Hammond and the club board members nowl go into the Christmas-New Year break realising that unless they can almost immediately find a sponsor willing to pour more than $1m a season into the franchise, the club will have to "invite" the ARU to temporarily take charge of their finances, just as it still is doing with Queensland Reds.
And having set precedents in the past by bailing out the NSW and Queensland Rugby Unions from financial problems, the national body is unlikely to turn its back now on the ACT-based team, even though its own financial standing is also precarious.
The Brumbies trawled far and wide this year seeking a naming rights sponsor to replace long-time supporter Computer Associates, but the harsh reality now is that even if they manage to reignite interest from some of the potential sponsors they had courted, the club has no bargaining position whatsoever.
The one bright light on the Brumbies' horizon is that the redevelopment of the property on which the club is located is expected to be resolved within a year.
That should not just put an end to this crisis, but leave the Brumbies cashed up like no other Australian Super Rugby franchise. But there is still an awkward 12 months to negotiate.
Brumbies powerbrokers are insisting that the club's coaches, players and support staff will not directly be affected by Huawei's withdrawal, but the financial crisis still threatens to destabilise the club and undo much of the good work new head coach Jake White wanted to do in the pre-season.
