[6] The Melbourne Rebels were established for the inaugural season of the Australian Rugby Championship by virtue of NSW surrendering a fourth team in favour of Victoria.

[10] The Australian expressions of interest included three from Victoria, one from Western Sydney, one from the Gold Coast, the New South Wales Country Rugby Union (backed by John Singleton)[11] and a second Queensland team.

Three expressions of interest came out of Victoria for new Super licence- the Vic Super 15 headed by Mark Ella and backed by Kevin Maloney along with three former VRU directors, a Belgravia Group bid led by Geoff Lord (on behalf of the Melbourne Victory)[12] and the Melbourne Rebels bid from the Victorian Rugby Union with backing from media magnate Harold Mitchell with assistance from corporate consultants, including KPMG.

[15] Investment banker John Wylie brokered a tentative agreement between the Melbourne Rebels and the Vic Super 15[16] that was announced at the 2009 Weary Dunlop Luncheon.

The arbitrators felt that the Southern Kings' bid was more advanced with regard to business and financial planning and organisation structure and governance.

[18] On 12 November 2009, after an arbitration process between themselves and South Africa's Southern Kings, Victoria was awarded the 15th Super Rugby licence, as it was considered more financially viable to SANZAR.

The Rebels announced the succession plan, citing Boland's credentials as an executive at Visy and Veolia, and his presidency of the Parramatta Rugby Club during its rebuilding phase.

Clarke, who had been CEO of the ACT Brumbies between 2003 and 2005 and chief operating officer of the Australian Rugby Union 2006–07, will fill the role until season's end.

"[34] Contrary to Jones, Wallabies coach Robbie Deans stated the side's vast experience was an asset and predicted the Rebels could be competitive from the outset.

[41] Welsh number 8 Gareth Delve signed 28 March saying, "The opportunity to test myself alongside the best players in world rugby in a competition I have grown up admiring, was one I couldn't refuse.

[47][48] On 27 June 2013, the RaboDirect Rebels announced that foundation shareholders Harold Mitchell, Bob Dalziel, Lyndsey Cattermole, Alan Winney, Ralph D'Silva, Gary Gray, Paul Kirk, Leon L'Huillier, David Ogilvy and Michael Bartlett had signed a term sheet dealing with the 100% transfer of their shares to the Victorian Rugby Union.

The Rebels proved to be a financial drain on the Australian Rugby Union; the franchise was responsible for more than half of the ARU's deficit of A$6.3 million in fiscal 2014.

[64] Rugby Australia stated that a decision on the future of the Rebels’ women’s team “will be made as part of [a] broader process later in the year”.

Chris "Buddha" Handy said at the launch, that "like the great Weary Dunlop, Victorian rugby has a history of daring to be different, a touch of the larrikin, and always having a go.

[74] The logo's five stars represent the Rebel creed: Respect (yourself and the opposition), Excellence (highest standards in everything we do), Balance (sport and life, determination and humility), Ethos (team first, 'we, not me'), Leadership (challenge the status quo).

Both the logo and kit heavily feature navy blue, while the iconic five stars that run vertically down the centre of both are white, also a traditional Victorian colour.

In April 2009, Neville Howard and Gavin Norman created an independent supporter group to grow awareness of the bid at a grassroots level.

I think what they've brought to Australian Rugby has been a breath of fresh air within an environment that has ferociously stuck to its tweed coat and chardonnay stereotypes.

[89] The Rebels won both games against Tonga, 43–13 at Olympic Park[90] and 54–0 at Latrobe City Stadium in Morwell,[91] playing two uncontracted amateur players from Victorian Rugby Union clubs; Chris Slade from the Melbourne Unicorns[92] and Sam Latunipulu Jnr from the Southern Districts Pirates.

If we were playing like we are now, we wouldn't be successful ..."[94] The Rebels inaugural season kicked off on 18 February, with a Round One match against the Waratahs (NSW) at home, in front of over 24,000 people.

[98] The franchise announced the morning after their final round loss to the Western Force they had signed a two-year deal with James O'Connor and Mitch Inman[99] in addition to Kurtley Beale from the Waratahs.

[101] There were three retirees from the inaugural squad; Kevin O'Neill, Greg Somerville and Sam Cordingley while Luke Rooney returned to French rugby club Toulon.

The Rebels had recruited strongly in the off season with Welsh international Dominic Day, Japanese international Amanaki Mafi and NRL star Marika Koroibete joining along with a selection of young talent including another young Victorian talent Jordan Uelese, who would win his first Australian cap at the end of the season.

Further Wallaby additions were made in the off season in former Reds fly-half Quade Cooper, while Luke Jones and Matt To'omua returned to Australia from Europe to join the Rebels.

[113] 2020 saw major departures to the Rebels squad as Wallabies Adam Coleman, Quade Cooper, Will Genia and Jack Maddocks all departed following the 2019 Rugby World Cup, with younger players including Andrew Deegan, Andrew Kellaway, Josh Kemeny and Cameron Orr join the side, along with Fijian international Frank Lomani.

Following missing out on the playoffs, coach David Wessels stepped down,[117] replaced by assistant Kevin Foote on an interim basis for the rest of the season.

The side though brought through a number of young players in the season with Josh Canham, Daniel Maiava and Lukas Ripley all making their Rebels debuts.

The start of 2024 saw the Rebels make a number of big name signings in Wallabies Filipo Daugunu, Lukhan Salakaia-Loto and Taniela Tupou however in January the side went into voluntary administration due to outstanding debts.

On 19 June 2015, the ARU announced that the franchise had been sold to the Melbourne-based Imperium Sports Management (ISM), returning the Rebels to private ownership, with the sale to be formally completed on 1 July.

At the time of announcement, Peter Leahy stood down as CEO to allow ISM co-leader Andrew Cox to take that position.