Not sure if the Fail is accurately reporting WRU Chair directing a deadline of Tuesday to sign the Agreement, but the three Regions should be given full details of spend to Cardiff and assurances they will receive equal funding , before signing
The goalposts have moved and they should not be coerced
Just as an aside that I hadn't thought about, a statement from PWC, the administrators that sold the club to WRU, makes it clear that they have also bought the SRC side as well as the URC team. I doubt if it makes any difference but does anyone think differently?
They were under the same ownership so not surprised if the acquire both. The cost of both teams will be trimmmed down with a view to either trading at break even or at a smaller loss that will be passed on to new owners.
Hat tip to TommyBoy your source was on the money last week. Sounds like it has been going for months with Helford failing to cough up. Journos decided to keep stum like pet poodles.
Indeed! Tierney and Collyer are suggesting that Helford's failure to fulfil their obligations has been what has delayed the signing of the PRA so perhaps now things can move on.
I actually think this was so sensitive that it was right to embargo the journos. What sticks in the craw is the Steffan Thomas was allowed to spread rumours about us through a national platform yet acquiesced to not doing so about Cardiff.
One thing to remember is that Reach sacked all their professional journalists and now rely on freelancers who pile in the articles hoping to get invoices paid. Accuracy, reality and honesty are not on the agenda. Advertising click generation is the name of the game.
I don't believe they had a scooby. WRU would have been crazy to trust the reptiles.
WRU won't need any actual money. Helford Capital were given 84.55% of Cardiff Rugby Ltd on a promise of future funding. They didn't pay a penny and haven't paid a penny. WRU get about £2M per region in competition income so as long as Cardiff exist and play there is money coming in for them.
They would have to slim down Cardiff’s cost base but given they have annual turnover of around £16m in June 23 and a cost base of &18m they just have to lose 10% of their cost base be it players coaches support staff it should be possible to cut their cloth to that figure. They may not be as competitive but they can survive.
I have previously wondered about their ability to lose more than Ospreys despite having a smaller squad, more favourable ground "rent", full catering income, a clubhouse and bigger crowds. With keener cost controls they shouldn't have to make big cuts.
One of my mates is a senior power man with Rammstein and when those big gigs are in the Principality they park the massive generators around or even on CAP and pay for that parking plus unloading of trucks so Cardiff and/or CAC have an income that is assured in the off season.
CAC are a different entity to CRFC which will probably cease to exist in a week or so. There is going to be pain on cutting costs and somebody has to fund it in the short term. You don’t go from losing £2m to break even overnight but you can put a plan in place to bring costs under control while the union and new investor talk to CAC about how to maximise value from the ground.
The silence is deafening on the agreement. Someone has lost their biro.
Not sure if the Fail is accurately reporting WRU Chair directing a deadline of Tuesday to sign the Agreement, but the three Regions should be given full details of spend to Cardiff and assurances they will receive equal funding , before signing
The goalposts have moved and they should not be coerced
Just as an aside that I hadn't thought about, a statement from PWC, the administrators that sold the club to WRU, makes it clear that they have also bought the SRC side as well as the URC team. I doubt if it makes any difference but does anyone think differently?
Once a Scarlet always a Scarlet!
Hat tip to TommyBoy your source was on the money last week. Sounds like it has been going for months with Helford failing to cough up. Journos decided to keep stum like pet poodles.
WRU won't need any actual money. Helford Capital were given 84.55% of Cardiff Rugby Ltd on a promise of future funding. They didn't pay a penny and haven't paid a penny. WRU get about £2M per region in competition income so as long as Cardiff exist and play there is money coming in for them.