Police Sergeant Simiona Naku said the key to the rental van was apparently left in the ignition and a player decided to drive it from his accommodation in Matavera to the other side of the island.
However his journey was stopped short when he apparently swerved off the road and crashed over the side of the bank.
Sergeant Naku said police believe alcohol was a factor in the incident, however there were no reported injuries.
Police have interviewed most of the people in the team and they will not be releasing the name of the team until they have completed their investigation.
Police attended another crash in Tutakimoa opposite Pickering Motors. The driver was discovered by a police officer on his way to work at 7am yesterday.
The man will appear in court on Thursday charged with driving with excess breath alcohol.
Police did not supply details of another smash which apparently occurred on Friday night or in the early hours of Saturday morning, when a van went off the road and crashed into a hedge on St Joseph Rd opposite St Joseph School.
On Saturday morning the van was still firmly embedded in the hedge and there were obvious bloodstains on the outside of the driver’s door.
Residents living in the area reported having heard a loud thump when the van hit the hedge, and one said it was fortunate that the van had not hit a house.
Sergeant Naku said police were still concerned about the casual attitude in the community towards drink-driving and urged people to be safe on Rarotonga’s roads.
However he said police were pleased they had not been called on to deal with any issues during the Rugby Seven’s event at BCI Stadium.