General Rugby Discussion II

icdg

Had not heard, but apparently another person saying goodbye to rugby is RTE head of sport Ryle Nugent, whose replacement Declan McBennett was announced today:

http://www.rte.ie/amp/957172/

prawnsambo

icdg wrote: »

Had not heard, but apparently another person saying goodbye to rugby is RTE head of sport Ryle Nugent, whose replacement Declan McBennett was announced today:

http://www.rte.ie/amp/957172/

Yeah, Nugent announced he was leaving RTE a few months ago. Some speculation he was going with the rugby, but he'd be on gardening leave for a while first, so no word yet as to where (if anywhere) he's going.

Burkie1203

Ouch

https://twitter.com/FoyChris/status/989262213893558272?s=19

Bridge93

What a shame...

Squidgy Black

Burkie1203 wrote: »

Ouch

https://twitter.com/FoyChris/status/989262213893558272?s=19

Daly only signed an extension late last year, as did Launchbury and a few other players.

Burkie1203

https://twitter.com/willgkelleher/status/989267960522002432?s=19

Dubinusa

Premiership finances are a shambles. How can the French do it, but the English can't? They spend money they don't have and they're broke.

Squidgy Black

Dubinusa wrote: »

Premiership finances are a shambles. How can the French do it, but the English can't? They spend money they don't have and they're broke.

Massive financial backers. Behind any of the French clubs throwing money at players is a multi-millionaire pumping money in. Also larger sponsorship deals to balance the books.

errlloyd

Burkie1203 wrote: »

Ouch

https://twitter.com/FoyChris/status/989262213893558272?s=19

The interesting part of that article is that Richardson is putting his own money in to repay investors now. They have 35m in bonds, and they have to pay 2m per year in interest until 2022 when they have to repay the full whack. I don't quite understand how the 35 was used, and I'd have to have a look at their financial statements, but last time I combed their financial statements it did look like a liquidity problem was looming.

prawnsambo

Dubinusa wrote: »

Premiership finances are a shambles. How can the French do it, but the English can't? They spend money they don't have and they're broke.

The French club game has been professional in all but name for years before preofessionalism. There's massive sponsorship and a club game that's well supported. Even so, there have been mergers and clubs have disappeared or fallen down through the ranks like Bourgoin. Racing is the product of the merger of two clubs. Many of them also get funding support from their local councils.

Burkie1203

errlloyd wrote: »

The interesting part of that article is that Richardson is putting his own money in to repay investors now. They have 35m in bonds, and they have to pay 2m per year in interest until 2022 when they have to repay the full whack. I don't quite understand how the 35 was used, and I'd have to have a look at their financial statements, but last time I combed their financial statements it did look like a liquidity problem was looming.

It's basic economics essentially. Spend spend spend with the income not matching the outgoings over time.

One of my friends is involved at a LOI club and showed me some of the accounts they get as members way back in the noughties. Crowds of 1500-2000 and a wage bill if 20k+ a week. The solution was members taking out Loans to pay the debt off while they then just racked up even more debt with a higher outgoing to cover the loans.

ScrubsfanChris

errlloyd wrote: »

The interesting part of that article is that Richardson is putting his own money in to repay investors now. They have 35m in bonds, and they have to pay 2m per year in interest until 2022 when they have to repay the full whack. I don't quite understand how the 35 was used, and I'd have to have a look at their financial statements, but last time I combed their financial statements it did look like a liquidity problem was looming.

Wasn't a lot (or some) of it used to buy a controlling interest in Ricoh Arena?

errlloyd

Burkie1203 wrote: »

It's basic economics essentially. Spend spend spend with the income not matching the outgoings over time.

One of my friends is involved at a LOI club and showed me some of the accounts they get as members way back in the noughties. Crowds of 1500-2000 and a wage bill if 20k+ a week. The solution was members taking out Loans to pay the debt off while they then just racked up even more debt with a higher outgoing to cover the loans.

To be fair, the one thing about the Wasps loans is they aren't basic. They acquired a stadium, hotel, shopping centre, conference centre and concert venue. In 2015 Wasps really ceased to be a right) rugby club, and became a multifaceted business. What I mean when I say I am not sure what the 35 million went to, I am just not sure if it went towards financing those assets totally, and is now spent. Or if a portion of it is merely in other investment vehicles.

Burkie1203

errlloyd wrote: »

To be fair, the one thing about the Wasps loans is they aren't basic. They acquired a stadium, hotel, shopping centre, conference centre and concert venue. In 2015 Wasps really ceased to be a right) rugby club, and became a multifaceted business. What I mean when I say I am not sure what the 35 million went to, I am just not sure if it went towards financing those assets totally, and is now spent. Or if a portion of it is merely in other investment vehicles.

But if they have spent it or majority of it and the income isn't matching what they projected then it is fairly basic. What the actual plan is, well that's hard to tell because of the multiple different assets and as you say it's hard to know what money went where.

Bazzo

Burkie1203 wrote: »

Ouch

https://twitter.com/FoyChris/status/989262213893558272?s=19

Oh no, who could have seen this coming!!

Wait... everybody. Everybody saw this coming.

prawnsambo

Lions players, past and present are receiving caps for the first time ever

Never knew they didn't get caps until now. The families of deceased players are receiving them too along with a team photo from the time they were capped.

Dog Botherer

Burkie1203 wrote: »

Ouch

https://twitter.com/FoyChris/status/989262213893558272?s=19

Brad Shields is on his way there. Wonder if he's starting to regret declaring for England now after this and not being able to be released for the summer tour.

Burkie1203

https://twitter.com/willgkelleher/status/989614772701356035?s=19

Bazzo

Has the company going bust anything to do with the current pro league in the USA? Says they're an arm of USA rugby and deal with an online streaming service?

Wish I'd seen daily mail before I'd clicked the link

prawnsambo

Bazzo wrote: »

Has the company going bust anything to do with the current pro league in the USA? Says their an arm of USA rugby and deal with an online streaming service?

Wish I'd seen daily mail before I'd clicked the link

Yeah, they're the for-profit commercial arm of USA Rugby. They own The Rugby Channel.

...tasked with monetizing the federation's commercial rights and developing new revenue streams to fund the growth of the game in America. RIM is majority-owned by USA Rugby, but structured to attract inward investment.

Bazzo

prawnsambo wrote: »

Yeah, they're the for-profit commercial arm of USA Rugby. They own The Rugby Channel.

Not a great start for their new league then...

Bazzo

Another twist in the Brad Shields saga:

RFU chief executive Steve Brown says Hurricanes flanker Brad Shields will tour tour with England in June regardless of New Zealand Rugby's protests.

...

“Regulation nine is clear and understood by everybody,” Brown told The Times.

“If we find ourselves in that situation we will rely on the World Rugby regulation.”

NZR chief executive Steve Tew, though, believes ‘the World Rugby regulations don’t apply per se because he’s committed himself to New Zealand’.

https://www.ultimaterugby.com/news/%E2%80%98shields-will-be-picked-for-england-in-june%E2%80%99---rfu-chief/605548

lawred2

Burkie1203 wrote: »

https://twitter.com/willgkelleher/status/989614772701356035?s=19

what's ground breaking about a Wales South Africa match in Washington?

molloyjh

Bazzo wrote: »

Another twist in the Brad Shields saga:



https://www.ultimaterugby.com/news/%E2%80%98shields-will-be-picked-for-england-in-june%E2%80%99---rfu-chief/605548

If his contract has a clause about playing for NZ at some point in the future (which I'd say it does) then Tew is 100% right and England are going to just have to deal with it.

Yeah_Right

As far as I know, when a player signs to play Super Rugby in NZ they are signing that they are available for NZ selection. Exceptions are made but it is stated in the contract. Usually it's for PI teams and there have also been a couple of Japanese players. Haskell and Digby Ioane are the only players I can think of who came from Tier 1 nations to play in NZ. The franchises had to get exemptions. I can't see Shields having that exemption which would mean he would be in breach of contract if he toured with England, wouldn't it?

I admit that my knowledge of sports contract law is limited to what I've read on various websites so I'm open to correction.

Podge_irl

molloyjh wrote: »

If his contract has a clause about playing for NZ at some point in the future (which I'd say it does) then Tew is 100% right and England are going to just have to deal with it.

I think it might get slightly complicated by the fact that an offer to join the NZ squad was withdrawn based on his impending departure. If NZ have no intention of playing him then it might change matters I guess.

molloyjh

Podge_irl wrote: »

I think it might get slightly complicated by the fact that an offer to join the NZ squad was withdrawn based on his impending departure. If NZ have no intention of playing him then it might change matters I guess.

I wasn’t aware of that. Technically the contract still stands I’d imagine, but that does complicate matters.

Podge_irl

molloyjh wrote: »

I wasn’t aware of that. Technically the contract still stands I’d imagine, but that does complicate matters.

Yeah it still stands but there could be "good faith" issues blah blah. I'm not a lawyer so could have a serious case of talkoutofass-itis but it may not be entirely straightforward.

Bazzo

Andy Goode says the Wasps story from earlier in the week is bollox.

https://www.rugbypass.com/news/financial-turmoil-discontent-wasps-pull-one-andy-goode

prawnsambo

Bazzo wrote: »

Andy Goode says the Wasps story from earlier in the week is bollox.

https://www.rugbypass.com/news/financial-turmoil-discontent-wasps-pull-one-andy-goode

Yeah. There wasn't a mention of it in the more reputable newspapers.