Ex Wasps signing for new clubs

[Rossm]

Statement Today from Exeter Chiefs.

As a result of the Rugby Football Union and Premiership Rugby Limited's decision to continue playing behind closed doors during the Covid-19 pandemic, Exeter Rugby Club were forced to borrow substantial government backed loans to pay our players and staff.

The funding from government was not in the form of grants, but loans which carry interest. These are now failing to be repaid and the income from our normal trading is not sufficient to pay them and all other expenses.

Accordingly, the Rugby Club Board decided to sell one of our non-rugby assets for which members approval is needed and which is being sought at an Extraordinary General Meeting at Sandy Park on Wednesday, November 30.

This should be more than sufficient to see the club pay the loans and be financially secure for the future.

No further comment will be made by the Rugby Club.


Money getting a bit tight down in the South West? Is it possible that the biter is getting bit?

[jamestaylor002]

Statement Today from Exeter Chiefs.

As a result of the Rugby Football Union and Premiership Rugby Limited's decision to continue playing behind closed doors during the Covid-19 pandemic, Exeter Rugby Club were forced to borrow substantial government backed loans to pay our players and staff.

The funding from government was not in the form of grants, but loans which carry interest. These are now failing to be repaid and the income from our normal trading is not sufficient to pay them and all other expenses.

Accordingly, the Rugby Club Board decided to sell one of our non-rugby assets for which members approval is needed and which is being sought at an Extraordinary General Meeting at Sandy Park on Wednesday, November 30.

This should be more than sufficient to see the club pay the loans and be financially secure for the future.

No further comment will be made by the Rugby Club.


Money getting a bit tight down in the South West? Is it possible that the biter is getting bit?

Whilst not anywhere near our situation (yet), stones and glass houses come to mind...

[WonkyWasp]

Thanks Shugs! Of course no-one would wish any of our players to be unemployed.  It's the attitude of some of the bosses of other clubs that gets me; yeah yeah  -  it's business but it feels like the old (?)  days of auction rings rings when the real deals where done in the pub afterwards. Just my feelings. 

[Rossm]

Well if Exe went tits up then Rob Baxter would have his beloved 10 team league. How ironic..

[westwaleswasp]

I would laugh like a dog with two dicks. And then some.

[jamestaylor002]

I would laugh like a dog with two dicks. And then some.

That image alone is both creeping me out and laughing out loud all at the same time!

[Shugs]

Be interesting to know what the non rugby asset was. The loans puzzled me. They were to replace lost income. Incone that wasn’t going to be recovered. But the loans had to be repaid. Not really much help. As for Baxter and Exeter as you say Ross it would be a supreme irony if they were the one to go to make 10.

[COYW15]

Bassett (Dave, not Josh) to Edinburgh https://twitter.com/EdinburghRugby/status/1588486777177792514?s=20&t=yxWu2Vyfeq9_d6Dvzs9XJQ

[Rossm]

Be interesting to know what the non rugby asset was. The loans puzzled me. They were to replace lost income. Incone that wasn’t going to be recovered. But the loans had to be repaid. Not really much help. As for Baxter and Exeter as you say Ross it would be a supreme irony if they were the one to go to make 10.

It's probably all or part of the hotel.

[WonkyWasp]

Maybe the dish isn't being eaten cold but it certainly is lukewarm.  And definitely snigger-worthy.

[St Bruno]

RossM,
Don't think it's the hotel. From what I remember trawling through Exeter Cheats' accounts,
the club gave Rowe a £14 million interest-free loan to enable him to build the hotel. So presumably it belongs to him, not the Cheats.

As I say, that's what I recall but, being of unsound mind and rickety, the above could be a load of used food.

[NellyWellyWaspy]

Isn't there an old farm that they use for maybe academy housing, with a big field next it? Could well be that.

[Chunky24]

Ryan Mills is rumoured to be heading to Sale.

Confirmed

https://twitter.com/SaleSharksRugby/status/1588486214268571653?t=5roErhtMtm-FKxzk3Jg-9g&s=19

[Rossm]

Good luck, Millsy. But of course, that means that Sale have the two most injury prone centres in the league.

[westwaleswasp]

Chiefs SN suggests hotel...