'The first anywhere in the world': Aussie rich listers unite for $100m rugby war chest
Updated . First published
Rugby Australia has received a major and much needed financial shot in the arm with the creation of a Rugby Future Fund.
The Australian Rugby Foundation said the fund would provide investors the opportunity to "access a group of prominent fund managers, grow their personal investment portfolios while simultaneously investing across all aspects of the game."
The RFF is targeting a $100 million raise through 2025, with one percent of the gross assets going to the ARF annually to help fund programs across rugby's community, women's and high performance pathways.
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Australia's Harry Wilson lifts the Ella-Mobbs Trophy following a late victory. Getty
The Australian and global fund managers behind the RFF have agreed to forgo their management and performance fees to improve investor returns.
"This is all about investing with purpose," said Brian O'Sullivan, chair of the RFF Investment Committee.
"The fund managers have created a platform where investors are getting a great deal for themselves and, at the same time, are helping to financially support the game they love.
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"This is the first sports future fund of this construct anywhere in the world and we are incredibly excited about its potential."
The news comes 12 months after a cash strapped RA signed a $80m debt deal to boost its coffers ahead of the 2025 British and Irish Lions tour of Australia and 2027 home Rugby World Cup.
"The RFF is a wonderful initiative that aligns with our charter of supporting rugby in Australia and increasing investment across all aspects of the game," ARF chair Ben Scott said.
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"Rugby has always played a positive role in our society.
"It unites and inspires Australians and the community underpinning the game is incredibly passionate and hard working.
"The ARF is proud to support them through the RFF which sits alongside other initiatives driving positive outcomes for our game powered by visionary philanthropy and corporate partnerships."
