New Zealand Rugby has been forced to step in to ensure Moana Pasifika play their final game of the season after the broke franchise called in the liquidators yesterday.<\/p>\n
Moana, last of 11 teams in Super Rugby Pacific, are due to play the Brumbies in Canberra on Saturday but an announcement by investors the Pasifika Medical Association yesterday that they could no longer fund the franchise potentially put that match in doubt.<\/p>\n
“The Pasifika Medical Association (PMA) can no longer continue funding Moana Pasifika,” the statement read. “The boards of directors of both PMA and Moana Pasifika have resolved to appoint liquidators.<\/p>\n
“We are proud to have supported the franchise over the past two years and are deeply disappointed to have reached this point. We acknowledge the dedication of the players, staff, and supporters, and we sincerely thank everyone who has been part of the Moana Pasifika journey.”<\/p>\n
With the funding tap turned off, it is fair to assume that NZ Rugby has been forced to fund the salaries of players and staff and other associated costs of the team for the final week.<\/p>\n
The alternative would have been a match default scenario which would have been in breach of the broadcast agreement.<\/p>\n
Teneo Financial Advisory was appointed as liquidator yesterday.<\/p>\n