Force shares go on sale for $1000 each

The Western Force want to become Australia's premier publicly-owned franchise, and they're selling shares for $1000 in a bid to raise at least $5 million.

Players of the Force

The Western Force want to become Australia's premier publicly-owned franchise. (AAP)

The Western Force are calling on fans to help save the franchise after getting the final tick of approval to start the process of becoming a publicly-owned entity.

The Force's future remains up in the air as SANZAAR decides the future structure of the Super Rugby competition.

If the South African Rugby Union agrees to cut two of its teams, then the ARU are set to axe one Australian franchise - with the Force reportedly the team to be culled.

The Force are intent to prove they're too valuable to cut, and they've launched an 'Own the Force' campaign in a bid to become Australia's premier publicly-owned club.

The Force initially planned to start selling the shares at $1000 a pop last week, but they had to wait for final approval from the Australian Securities and Investments Commission.

They have now been given the green light, and started offering the shares on Thursday.

The Force, who are currently owned by the ARU, need to sell a minimum of 5000 shares over the next four months for the new ownership model to go ahead.

"Your support of the 'Own the Force' campaign demonstrated to Australian rugby that there are passionate rugby supporters in Western Australia and Rugby in Australia is far more than an East Coast sport," the Force said in a statement.

"But we must act now to convert that passion to ownership to demonstrate the financial viability of rugby in our state."

The SARU could decide as early as this week whether or not to cut any of their franchises.

The Force have just one win for the season, but will start as favourites in Saturday's clash with the Kings in Perth.

Skipper Ben McCalman will make his first appearance of the season after overcoming a thumb injury.


Share

2 min read

Published

Source: AAP



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world