ACT Brumbies chairman Robert Kennedy says the club's dramas of the past 12 months are "ancient history", adamant a board revamp revamp and a projected profit will help them avoid the Super Rugby axe.
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The Brumbies announced a loss of $864,093 at the annual general meeting on Wednesday night and the club is fighting to break even this year for the first time since 2003.
They will chase their back-room targets with limited experience on the board, with Carmel McGregor the longest serving director after four years of service.
Seven of the nine board members have less than two years of experience. Anne-Marie Perrett and Phil Thomson were elected at the annual general meeting while Michelle Melbourne, Chris Doogan and Pat McCabe have only recently joined the board.
In contrast, former president Geoff Larkham served as a director for 18 years before resigning last year.
"Anne-Marie brings a massive commercial network as well as deep business and technical skills," Kennedy said.
The Brumbies changed their constitution last year to align with the Australian Sports Commission model in the hope of avoiding boardroom troubles.
A nominations committee was set up to assess board applicants while the chief executive's position as a director was abolished.
The Brumbies sought legal advice about Thomson's appointment to the board. Under the commission's model, a former chief executive cannot serve as a director.
Thomson stepped in as the Brumbies' interim chief executive last year following a drawn out legal process and payout to former boss Michael Jones.
However, Kennedy said because Thomson was only serving in an interim role and not as a permanent employee, he was able to be elected to the board.
The Brumbies finances will be put under the microscope again this year as Super Rugby officials consider a competition revamp, which could involve axing one Australian team.
The Brumbies lost $1.07 million in 2014 and $1.68 million in 2015. They have $1.5 million left in their cash reserves.
But in an worrying sign for Australian rugby, Kennedy said the Brumbies were in a better financial state than their rivals.
"We've been keeping the ARU up to date and we regularly report to them on our financial situation. They are absolutely confident now that we are in one of the better financial shapes of the Super Rugby teams [in Australia]," Kennedy said.
"The ARU did have some concerns, all of rugby in the southern hemisphere is being challenged. But I can say they have confidence in our ability and believe we're one of the better financial shapes."
