According to the ARU continuing the competition "would be fiscally irresponsible."
When launched only last year the eight-team competition was touted as a way to revitalise rugby union in Australia, being seen as a bridge between club rugby and the Super 14.
The ARU has said that the championship ran two million dollars over budget in its first year and financial predictions showed it was set to lose 3.3 million dollars in its second season, which would of course mean that the ARU would be unable to pay Robbie Deans his rumoured salary of 1 million dollars per year.
One thing you have to ask is how the competition lost so much money - presumably someone at the ARU had responsibility for the budget?
It also begs the question - is the ARU putting all its eggs in one basket by employing Robbie Deans to coach the national team at the expense of developing a broader playing base?