It appears the vibes from negotiations to save the union have been positive though. Steve Tew, NZRU chairman, said that the situation looks better than it did 2 weeks ago.
However, all parties involved are hesitant on releasing further details on the fate of Otago rugby until they have been finalised.
UPDATE - It appears the New Zealand Rugby Union will indeed step in to rescue the Otago rugby union. Board members voted albeit not unanimously for a rescue package to ensure the Dunedin based union's debts are somewhat covered and the union can field a team in the ITM Cup later in the year.
The NZRU will continue to look after community and club rugby in the region this season.
Meanwhile, it has also been reported that the Dunedin City Council will write off the $400,000 owed for the use of Forsyth Barr Stadium by the Otago rugby union.
The Council admitted that it would be worse for the new stadium to become a white elephant later in the year should Otago fail to field a team in the ITM Cup leaving the stadium empty.
Also, it has emerged that the union is owed $180,000 in pokies grants. The pokies failed to pay the union in light of its perilous financial state.
EARLIER - A week ago, Otago rugby apparently died - but then was given a late reprieve and another 7 days to find a backer or be liquidated.
7 days later, we haven't had any word yet. Just like last week, the deadline for a rescue package is 4pm or the 131 year old union would be history.
However, there is word of a shock late rescue package. So will keep you posted throughout D-Day in Dunedin!
More updates later and there may be a special 2 Minutes tonight with Speights in hand.
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