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Jersey Reds - Administration??? |
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billesleyexile ![]() World Cup Winner ![]() ![]() Joined: 20 Jun 2013 Location: England Status: Offline Points: 1842 |
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Probably the second - the uncertainty of the structure affecting investment. No club should be going under because of the RFU's cut in funding really (much as I disagree with it) - that just means writing cheques that you know you can't honour if something doesn't turn up. Clubs that get relegated from the Championship (and hence lose all the funding overnight) mostly don't implode, for example. Even the clubs that got relegated when it was £500k a year. Gutted for Jersey and their supporters. |
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keep the faith
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Big Eddie ![]() World Cup Winner ![]() ![]() Joined: 19 Jun 2007 Status: Offline Points: 4917 |
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I have been an investor in businesses for the last 20 years. In order to invest among other things I need to understand: - the macro view of the market the business is in - the businesses position in that market and its realistic prospects - whether the business will be or is likely to be financially self sufficient after my investment - the ability and experience of the management team and in particular its CEO - the return I am likely to get on my investment and the exit strategy for me to realise my investment I couldn't answer any of the above positively as far as rugby is concerned. As far as I am concerned Rugby is not suitable for investment
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''The future isn't what it used to be''
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Big Eddie ![]() World Cup Winner ![]() ![]() Joined: 19 Jun 2007 Status: Offline Points: 4917 |
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Cornish Pirates appear still to have the game advertised on their website......and it is very possible that CP supporters may not know about Jersey's demise......the ripples will spread far and wide from all of this
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''The future isn't what it used to be''
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Greg ![]() First XV regular ![]() Joined: 30 Jan 2020 Location: Norfolk Status: Offline Points: 82 |
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I am so disappointed to learn of Jersey Reds plight and I feel for their players, coaches, admin staff and their supporters. There will also be a negative impact on the Island's economy which also has to be considered.
For this to happen so early in the season is particularly worrying for all of the Championship and I share the general contempt of the RFU for its utter incompetence in running the business it is there to protect and promote. All this said, nobody has asked the question or raised the point of Jersey's own liability in putting together such a competitive squad (inc coaching staff) when the home gate is around 1000-1500 (please correct me if I am wrong on this estimate. How did they envisage that their wage bill would be covered? This is a desperately sad day for English rugby.
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KnightsBoy ![]() World Cup Winner ![]() ![]() Joined: 31 Oct 2010 Location: Doncaster Status: Offline Points: 2495 |
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Good question Greg
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Geoff DC ![]() World Cup Winner ![]() Joined: 29 Aug 2007 Location: Penzance Status: Offline Points: 599 |
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Teddy1981 ![]() First XV squad ![]() Joined: 20 Aug 2016 Location: Jersey Status: Offline Points: 40 |
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Edited
Edited by Teddy1981 - 28 Sep 2023 at 13:00 |
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Camquin ![]() World Cup Winner ![]() ![]() Joined: 01 Jun 2007 Location: Cambridge Status: Offline Points: 10670 |
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My worry is that Jersey went into the season with a business plan that essentially says "A miracle happens here" They needed extra investment to pay the first month's salary. They obviously thought they had a backer willing to put in money - but unless the ink is dry and yo have seen the money - it is a gamble. This is the second season in three that Cambridge will lose a home game due to a club collapsing in the weeks before the league season starts. Pirates will not be able to cancel the staffing, suppers for tomorrow, so lose that and the gate money. Hopefully, teams will be able to get their travel spend for Jersey back. If they can that might just compensate for the loss of a home game. A lot of supporters will not. What was the RFU doing?
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Sweeney Delenda Est
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Se7en ![]() World Cup Winner ![]() Joined: 18 Apr 2023 Location: Reading Status: Offline Points: 432 |
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A very good point Greg. Every rugby fan at any level will feel for the players, coaches and staff at Jersey Reds, but as you say, why were they spending the funds they presumably were? Especially if, despite winning the Champ last season, they knew they would not be promoted into the Prem (where they 'may' have been able to attract and secure the necessary funding to keep going)?
Like I said, first and foremost all rugby fans will rue the loss of a team like Jersey Reds, but when the dust begins to settle, questions need to be asked, and other full time Champ clubs ought to be considering their own financial positions moving forward.
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Big Eddie ![]() World Cup Winner ![]() ![]() Joined: 19 Jun 2007 Status: Offline Points: 4917 |
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Was still showing when I looked 30 minutes ago but glad that it has been clarified
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''The future isn't what it used to be''
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Brizzer ![]() World Cup Winner ![]() ![]() Joined: 09 Mar 2012 Location: Jersey Status: Offline Points: 3398 |
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Big Eddies point is the main one. Investors need certainty and as much security as they can get. Every business will have a 5 year plan…. Except the RFU. They can’t even manage 5 months.
I should imagine that when the Reds investors asked if the RFU deal had been agreed and the answer was ‘we will know more at the end of the year’ they had neither certainty or security and withdrew. Jersey would have budgeted on this investment and would have had their own 5 year plan against it. That is how business works with investor rather than owners. Some of these players have literally just signed, others were saved from Wasps and were so grateful to be here. I just pray to all the gods that the situation is salvageable. Edited by Brizzer - 28 Sep 2023 at 13:11 |
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Tackle Low!!!!!
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Old Gold ![]() World Cup Winner ![]() ![]() Joined: 31 Dec 2008 Location: London Status: Offline Points: 1166 |
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Nail hit very firmly on the head there. Sums up the RFU’s approach. Shameful behaviour.
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One Club
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Stoatgobbler ![]() World Cup Winner ![]() Joined: 29 Jan 2010 Status: Offline Points: 446 |
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Interesting to read the BBC article on this, says "Reds split from Jersey RFC in 2022 and went on to win the league and reach the Championship Cup final in May.". I did not know that. Does this suggest an amateur Jersey are still playing somewhere?
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Donnyknightfan ![]() World Cup Winner ![]() Joined: 28 Feb 2021 Location: Doncaster Status: Offline Points: 503 |
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What a complete farce rugby in this country has become. How is Bill Sweeney still in a job on a top salary?. There has to be a total clear-out of the top brass and he should be the first one out of the door. 4 clubs have gone bust in 12 months. I really don’t want to say this but maybe professional rugby below the top tier, with the exception of a few clubs, is just not realistic in the current climate. There’s just not the money in the game, or the crowds, to sustain it. Having said that, you could say the same of the Premiership clubs, barring a few exceptions.
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Donny Knights - best team in Yorkshire
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Sid James ![]() World Cup Winner ![]() ![]() Joined: 28 Jun 2013 Location: East Yorkshire Status: Offline Points: 1631 |
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I am as unhappy with the RFU as many others involved in RU today but, why is it when a Club spends money it hasn't got or commits to expenses it can't meet, everyone immediately blames the RFU?
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All Knwoing All Seeing
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Brizzer ![]() World Cup Winner ![]() ![]() Joined: 09 Mar 2012 Location: Jersey Status: Offline Points: 3398 |
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Yes. JRFC is alive and kicking |
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Tackle Low!!!!!
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Brizzer ![]() World Cup Winner ![]() ![]() Joined: 09 Mar 2012 Location: Jersey Status: Offline Points: 3398 |
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Where did you get that from? According to our DOR our average salary was 25k. Not exactly paying over the odds. |
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Tackle Low!!!!!
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cheshire exile ![]() World Cup Winner ![]() Joined: 05 Feb 2009 Status: Offline Points: 2375 |
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It’s simple. As others have said, there is no plan for the Championship emanating from the RFU. Hence meaningful investment, other than pure philanthropy, is impossible to secure.
Edited by cheshire exile - 28 Sep 2023 at 13:28 |
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Sid James ![]() World Cup Winner ![]() ![]() Joined: 28 Jun 2013 Location: East Yorkshire Status: Offline Points: 1631 |
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I fully agree that the RFU has no credible plan for the Championship and are frankly, negligent but, that is not a licence for Championship Clubs to act irresponsibly with regard to their finances.
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All Knwoing All Seeing
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Steve@Mose ![]() World Cup Winner ![]() Joined: 01 Jun 2007 Location: United Kingdom Status: Offline Points: 2555 |
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Very sad news.
Edited by Steve@Mose - 28 Sep 2023 at 14:01 |
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