David Shein named as Bob Dwyer backer as battle for the Waratahs comes to a head

Shein, a regular on the BRW Rich List five years ago and chairman of financial planning group Centric Wealth, is bankrolling Dwyer's bid with former ARU and NSWRU chairman Dilip Kumar to inject upwards of $10 million over five years into the Waratahs and rugby throughout NSW.

Dwyer's group and their rivals, businessman David Levy and sportswear distributor Michael Hendler, presented their cases last week to a three-person committee  given the job of assessing the bids.

ARU director and former NAB chief executive Cameron Clyne is on the committee along with NSWRU director Paul Timmins and Waratahs director and investment banker Ross Grant.

ARU boss Bill Pulver refused to comment on the process but it is understood both groups are expecting a decision in the next week or so.

"I am really speaking from my personal perspective now because we do need to have more deliberation on this issue at an ARU board level," he said.

"But when I look at any elite rugby competition around the world, virtually all of them have private equity involvement.

"So as a model for the game, conceptually I have no problem with it at all."

Shein's involvement is a  big boost for Dwyer and Kumar. A South African who emigrated to Australia in the 1980s, Shein was ranked 141st on the 2009 BRW Rich List with a fortune worth an estimated $256 million.

He made his money selling computer services company Com Tech just before the collapse of the tech bubble in 2000, and went on to invest in other tech ventures before being appointed chairman of Centric Wealth.

During his time there Shein recommended former Wallabies captain and commentator Phil Kearns for the role of chief executive, a position the 67-Test hooker will vacate at the end of this month.

His participation in Dwyer's bid must look particularly attractive to the ARU in light of Pulver's comments on Thursday.

"Broadly our industry is under-capitalised. When you think of how well we perform at a Super Rugby level and at a national level in the current environment, imagine if we were properly capitalised," he said.

No top-up deal for O'Connor

Pulver also delivered some sobering news to James O'Connor on Thursday, ruling out a lucrative top-up deal for the 44-Test outside back.

O'Connor is widely tipped to join the struggling Reds next season after stints with English club London Irish and French side Toulon.

But it appears the QRU will have to find the cash themselves.

"We only provide top-up agreements to players who have played fairly continuously in Australian rugby," he said.

"Having discontinued James's relationship [last year], it's not appropriate. He would need to come back, if he chose to, and play for a period of time before we would be prepared to consider an ARU top-up agreement with him."

That is not to say the ARU would not like to have the wayward star back in the fold. London Irish coach Brian Smith, who was a brave man to take on the 23-year-old after a drunken airport incident prompted the ARU to tear up his contract last year, has had nothing but good things to say about his departing winger.

Pulver said O'Connor would be welcomed back with open arms.

"We discontinued the relationship with him a year ago for the right reasons in my view, that doesn't mean he can't come back with the right attitude to be a wonderful contributor to Australian rugby going forwards."

Different hues on Reds' departures 

Speaking of Queensland, there are two ways to look at the raft of recent departures.

One is that the Reds are a province in crisis, with so little confidence in the side's coaching structure and strategic plans that players are climbing over each other to leave.

Most recently outside back Dom Shipperley announced his defection to the Rebels, after Mike Harris and under 20s start Jonah Placid did the same, and Aidan Toua (Agen), Rod Davies (Biarritz) and Albert Anae (Benetton Treviso) also decided to move on.

The other, less hysterical take on developments is that the Reds are making room on their roster for O'Connor and code-hopper Karmichael Hunt.

The Breakdown first floated O'Connor's link with the Reds in March, and Karmichael Hunt was linked to the 2011 title winners a month ago, but the QRU are refusing to comment on both players, preferring instead to unveil a full 2015 roster in coming weeks, possibly in time for their season-ender against the Waratahs on July 11.

As for Hunt and a possible move up the Pacific Highway to Ballymore, Pulver cryptically stated he was "not contemplating an ARU relationship with Karmichael Hunt" right now.

The Rebels, meanwhile, are taking the opposite approach, trumpeting each recruit – including out of favour NSW winger Cam Crawford – as they sign on.

There will be more good news next week, when the club makes a major sponsorship announcement and at least two big player signings. Watch this space.

As for the Waratahs, who lost arguably the find of the season – Alofa Alofa – to France, as well as Crawford, the mid-season signing of Taqele Naiyarovoro has proved a relief.

Coach Michael Cheika is hopeful Rob Horne will resist overtures from the Western Force to stay at Moore Park, meaning NSW will be effectively down just one winger. The Breakdown understands they are looking closely at the Australian Under 20s, with try-scoring machine Andrew Kellaway surely high on their list.