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Rugby Union
Premiership Rugby / Premiership Cup
We Need to talk about Worcester
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<blockquote data-quote="die_mole" data-source="post: 1112996" data-attributes="member: 73648"><p><hr class="bbc-hr bbc-hr--3" /><p>"The RFU has not been provided with sufficient evidence of funding. While some information has been provided, this has been only internal P&L information which appears to cover only part of the business of the main shareholder and the RFU was told that no further information could or would be provided.</p><p></p><p></p><p>"This means that there is no information as to debt levels or shareholder funds and no externally verified financial statements have been provided.</p><p>"Evidence of a non-binding heads of terms for external off-shore financing has been provided, but this is not committed.</p><p>"For these reasons the RFU does not have comfort that the business plan can be funded, nor that rugby is at the centre of the proposal for the business which is an American medical services company.</p><p>"The RFU is also concerned by the public statement from the bidders that they are prepared to acquire the site and develop it without a rugby offering."</p><hr class="bbc-hr bbc-hr--3" /><p>[URL unfurl="true"]https://www.theguardian.com/sport/2022/dec/16/worcester-rescue-bid-rejected-by-rfu-but-wasps-takeover-approved-rugby-union[/URL]</p><p></p><p>I get it. I feel the RFU really doesn't want to go through this again.</p></blockquote><p></p>
[QUOTE="die_mole, post: 1112996, member: 73648"] [HR=3][/HR] "The RFU has not been provided with sufficient evidence of funding. While some information has been provided, this has been only internal P&L information which appears to cover only part of the business of the main shareholder and the RFU was told that no further information could or would be provided. "This means that there is no information as to debt levels or shareholder funds and no externally verified financial statements have been provided. "Evidence of a non-binding heads of terms for external off-shore financing has been provided, but this is not committed. "For these reasons the RFU does not have comfort that the business plan can be funded, nor that rugby is at the centre of the proposal for the business which is an American medical services company. "The RFU is also concerned by the public statement from the bidders that they are prepared to acquire the site and develop it without a rugby offering." [HR=3][/HR] [URL unfurl="true"]https://www.theguardian.com/sport/2022/dec/16/worcester-rescue-bid-rejected-by-rfu-but-wasps-takeover-approved-rugby-union[/URL] I get it. I feel the RFU really doesn't want to go through this again. [/QUOTE]
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We Need to talk about Worcester
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