Always a Wasp
General Category => Wasps Rugby Discussion => Topic started by: Neils on September 28, 2023, 09:41:13 AM
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Reports suggest last year's Championship Winners Jersey Reds have entered Administration.
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Oh dear. At least Bill Sweeney's pockets will be nicely lined when there are no clubs left.
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Official confirmation
https://www.jerseyreds.je/news_article/jersey-reds-financial-challenges-lead-to-club-ceasing-trading/
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Jersey Reds: Championship title-holders 'cease trading' with liquidation 'inevitable' - https://www.bbc.co.uk/sport/rugby-union/66946536
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Mr Sweeny must be extending his nap.
When will the RFU insist upon full financial transparency and on ostensible evidence that clubs can finance the next season or two?
Such a shame to see last year's championship winners go.
Maybe it's part of the master plan to get a 10 club "prem2"
Grrrrrrr
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Sweeney statement, probably:
"The RFU are very disappointed that Jersey Reds decided to time this action to draw attention away from the World Cup..."
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Potential investors not willing to commit due to a lack of information regarding the 2nd tier restructuring and funding is exactly why Wasps couldn't continue.
All anyone knows is that there's an idea to have a Prem 2 with a new Professional Game Agreement due in 2024, which is only months away. However nobody, especially the clubs involved, have any clue what that means. How can they create business plans on that basis.
The RFU executive and Premiership Rugby (i.e. Sweeney and Massie-Taylor) are culpable yet again. They appear clueless!
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Such a pity, and very sad for Harvey Biljon and Rob Webber, both formerly of this parish.
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... AND the superb GUY THOMPSON .........
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... AND the superb GUY THOMPSON .........
He retired last year
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But still of that parish - twice actually.
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From The Guardian -
RFU comment (in part) -
?It is extremely disappointing that investors would take decisions at this early point in the season to place the club in such a position. Championship clubs had clear confirmation from the RFU on funding for the 2023/24 season and we have been working with the Championship and Premiership Rugby on the new Professional Game Partnership and shape of Premiership 2 with funding levels to be confirmed at the end of this calendar year. The Championship has been fully involved in these discussions since February which are aimed at stabilising and strengthening the professional game.?
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Which goes exactly against what the actual Championship sides are saying about their involvement with discussions
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Totally agree.
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Which goes exactly against what the actual Championship sides are saying about their involvement with discussions
Hmmm whom to believe?
Not a difficult choice is it. Time for Sweeney to find another vocation I would say.
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The RFU are officially 'concerned'. They won't do anything, change anything. But they will have a concerned look on their faces.
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From the BBC:
"At one stage at the end of last season it appeared there was a viable way forward for the second tier once the new Professional Game Agreement was implemented from summer 2024, but Championship clubs have been left in the dark since that point and this led to a growing fatigue among those who may have invested, but could not be given any concrete assurance about when the new structure would come in, or how it would be funded."
and
"Championship clubs had clear confirmation from the RFU on funding for the 2023-24 season and we have been working with the Championship and Premiership Rugby on the new Professional Game Partnership and shape of Premiership 2 with funding levels to be confirmed at the end of this calendar year.
So, who to believe, those who would have have skin in the game, to coin a phrase, in the form of their own money or a bunch of bureaucrats who will get paid at the end of the month and apparently receive their bonuses at the end of the year no matter what happens?
Its a tough one.
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The RFU executive and Premiership Rugby (i.e. Sweeney and Massie-Taylor) are culpable yet again.
Culpable certainly. And another word which also begins Cu-
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Championship chairman ex-England centre Simon Halliday has also made a statement on social media.
?It is a disaster that our current champions, a standard-bearer for our values as a league, have had to take this decision.
?Anyone who loves rugby should listen very carefully to the message being sent by the investors in Jersey Reds, through their decision to withdraw support, about the funding of the crucial second tier of the game.
?The message is that persistent uncertainty over central financial support from the RFU for our league has made it impossible for them to carry on.
?In essence, they have said: ?if the governing body won?t commit to you, why should we??
?The Rugby Football Union has been repeatedly warned that the government of the island of Jersey was concerned at the lack of financial commitment to the league in which the Reds played.
?The Championship?s owners and investors will also have noted that the Rugby Football Union?s response to this tragedy was to issue a statement blaming the investors in Jersey Reds and which includes the claim that the Championship has been ?fully informed? of ongoing financial discussions about the future of the professional game.?
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The games in serious trouble. How long does it take to come up with a plan? Early comms could have made all the difference to no end of teams. As a slight aside how bleak did the PR photo for the Prem look with two rows of 5 ?
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That's 4 down now. How many more to go?
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That's 4 down now. How many more to go?
At least another couple.
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From the BBC:
"At one stage at the end of last season it appeared there was a viable way forward for the second tier once the new Professional Game Agreement was implemented from summer 2024, but Championship clubs have been left in the dark since that point and this led to a growing fatigue among those who may have invested, but could not be given any concrete assurance about when the new structure would come in, or how it would be funded."
and
"Championship clubs had clear confirmation from the RFU on funding for the 2023-24 season and we have been working with the Championship and Premiership Rugby on the new Professional Game Partnership and shape of Premiership 2 with funding levels to be confirmed at the end of this calendar year.
So, who to believe ....
To be fair the 2 statements are not mutually exclusive, nor do they contradict each other. One says there is uncertainty about the model and funding post new game agreement in Summer 2024, the other says you had certainty of funding for the 2023/24 season, which ends pre-new agreement.
For all the "its the RFU's fault" they do have a small point when asking why Jersey's investors would allow the squad building all summer knowing the funding for the up coming season and then pull the plug once that season has begun. Nothing for this season has changed. So why the last minute change of heart? That seems a fair question to ask doesn't it?
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I think we will find that the source of funds that covered previous seasons had already withdrawn and was only bankrolling day to day while new investors were lined up. Just as happened with Irish. Those new investors have decided to withdraw having never actually agreed to anything, and so the temporary funding also stopped.
I hate to call them investors, because English rugby is in no way an investment, at least monetarily.
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Benefactors would be more apposite than investors; investment is the exact opposite of what they are doing.
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Benefactors would be more apposite ...
Indeed. However, let us liken a corporate task (be it a charity, business, rugby club ...) to the task a pushing a broken down car.
Four good citizens offer to push the hapless driver to a garage up the street. Not too far. All concerned can see the goal and know the shared effort is doable.
In the case of any Championship club, those pushing are the ticket buying fans, the benefactor, the RFU, and sponsors.
But, here the RFU have ceased pushing, but are faking it with grunts and red face. Worse, they own the garage, and have closed that one down and say you must now push in the general direction of the other side of town. The fans might still push, but the sponsors and benefactor no longer have clarity of purpose and goal, and feel they are being asked to shoulder an unfair share of the effort. Not surprisingly, they walked away leaving the car in the road, with RFU calling out 'Why did you do that, we were helping you, weren't we?', and the fans seriously annoyed. The car gets towed and scrapped.
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It's interesting that the assumption would be that there should be no better place for financial investment. I have family there, big sports fans and high up in financial institutions but that money allows them to access a much wider range of sporting events than the rugby club on their doorstep. They travel nationaly and globally for events such as rugby internationals, top flight football and American football instead. They might go to the rugby club once a season for hospitality and again for a dinner with a major speaker.
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Maybe the 'investors' wanted the opportunity to get into the premiership.
Four clubs have gone in one year. Sorry, but if that doesn't suggest a structural problem then I don't know what does.
Nelly's car analogy feels about right to me.
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Indeed. You could add that on the horizon is a bloke with a petrol can and matches come to put the car out of its misery.
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Jersey Reds: Championship club to enter liquidation after funding rejection - https://www.bbc.co.uk/sport/rugby-union/67016070