Gold Coast Super15 bid hits financial snag

The Gold Coast’s Super 15 bid team have expressed serious concerns that they may not be able to raise enough money to be able to challenge for a place in an expanded rugby union competition.

SANZAR have called for applications to be submitted for the Super Rugby team that will be formed and join the Super 15 in 2011.

The team will play in the Australian conference and the ARU have said that candidates must not only have solid corporate structure, a 25,000-seat stadium and good geographic location but at least $5 million in start-up capital as well.

Australian Rugby Union deputy chief executive Matt Carroll stressed yesterday potential candidates would need over $5 million worth of capital to get started which has forced Gold Coast bid boss Terry Jackman to question whether they will be able to raise the money.

“Unless we could find a Santa Claus investor, it would be impossible for the Gold Coast to do it,” Jackman told Gold Coast News.

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