Even Numbers to 22

Irish being suspended?

https://www.dailymail.co.uk/sport/rugbyunion/article-12129371/London-Irish-players-told-prepare-clubs-suspension-Premiership-week.html

Well, this isn't how I wanted to move up the pyramid...

The Blues wrote:

Irish being suspended?

https://www.dailymail.co.uk/sport/rugbyunion/article-12129371/London-Irish-players-told-prepare-clubs-suspension-Premiership-week.html

Groan

Dont kick it. Pick it up and GO FORWARD.

Richard Lowther wrote:

The Blues wrote:

Irish being suspended?

https://www.dailymail.co.uk/sport/rugbyunion/article-12129371/London-Irish-players-told-prepare-clubs-suspension-Premiership-week.html

I see some Irish supporters now seem to be against the P Share and ring fencing. I wonder why? Angry

As do Dalegio and his cronies.

OK to pull the drawbridge when you are in the club but not so good if you are outside it

RAID ON

tigerburnie wrote:

The old school ties are taking a beating aren't they, this could actually be of benefit if rugby organisers were brought kicking and squealing into the 21st centaury(did these Victorians ever really join the 20th I ask myself).

Ask the Member of Parliament for the nineteenth century - Jacob Rees-Mogg.

Our City,
Our Club

Camquin wrote:

What worries me is that London Irish Amateurs could be wiped out by this.

As I understand, the DCMS loans are secured on Hazelwood.

That would be worrying indeed

RAID ON

sand

Update from BBC man on Twitter just now:

Chris Jones BBC

@chjones9

·

8m

Understand London Irish have been given a week's extension by the RFU to get the takeover done. This will be the last chance and is dependent on current ownership meeting Wednesday's payroll.

To quote the administrators

DCMS provided loans of £14.1m … whilst not having any direct security in respect of these loans, it did have subordination agreements in place with Canmango and Derek Richardson.

Canmango being another company in the group. Both Canmango and Derek claimed o be secured creditors, but the administrators did not agree. Therefore, neither Canmango nor Derek got any money, and the subordination agreements were moot.

As far as I can tell, DCMS were then an unsecured creditor, and so got nothing.

We also know Christopher Holland paid £35k for the IP and £115k for some memorabilia.

Sweeney Delenda Est

Camquin wrote:

Worcester Warriors debts to the DCMS / England Sports Council were secured against the P-Shares.

The administrator does not envisage that these will be repaid in full. Nor do they believe there will be enough to pay HMRC in full.

As I understand it, no other creditors will be paid - except for the administrator's own fees.

IIRC the administrators get paid *first*, before HMRC or anyone else. Which makes sense I suppose, given they wouldn't have a business model themselves if they didn't get paid.

keep the faith