Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

RFU defends World Cup 'gamble'

  • 21-04-2011 12:34pm
    #1
    ormond lad
    Closed Accounts Posts: 3,632 ✭✭✭


    irishtimes

    RFU defends World Cup 'gamble'

    Rugby: The English RFU has described as “financially prudent” its insurance move to hedge its risk on England being successful at this year’s World Cup.
    A report in today’s Guardian claims the RFU have placed bets totalling around €280,000 via a consortium of bookmakers to cover player and management win bonuses should England be successful in New Zealand during September and October.

    In doing so, the RFU has not broken any International Rugby Board rules as it is not betting, but rather paying a premium to a broker who guarantees a return on its investment if they are successful.

    England have reached the last two World Cup finals, winning the tournament under Martin Johnson’s captaincy in 2003 and then finishing runners-up to South Africa four years later.

    This time, if they top their qualifying pool, England’s likely quarter-final opponents would be France, and then Australia in the semi-finals. They beat both those countries on their way to the 2007 final.

    An RFU spokesman said: “I am sure that we, as a professional and responsible sports governing body, are not alone in ensuring we minimise our financial risks at all times, including around tournaments such as the Rugby World Cup.

    “We are not directly placing money with bookmakers, but rather hedging our risk with an insurance broker.

    “It is financially prudent so that we can continue our investment in the grassroots of the sport. The details of any such arrangement are confidential.”

    The newspaper claims the RFU would start to receive a return if England secure semi-final status.
    Decent idea.


Comments

  • #2
    Auvers
    Closed Accounts Posts: 2,987 ✭✭✭Auvers


    6a00d8341c3e8f53ef00e553964b5e8834-800wi


  • #3
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    This is pretty commonplace these days. For example Paddy Power have a reasonably big risk management arm that will allow large hedges on sporting successes/failures.


  • #4
    jacothelad
    Registered Users, Registered Users 2 Posts: 5,941 ✭✭✭jacothelad


    leeroybrown wrote: »
    This is pretty commonplace these days. For example Paddy Power have a reasonably big risk management arm that will allow large hedges on sporting successes/failures.
    I have a large hedge that costs me a dfortune to get cut.:D


Advertisement