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Jersey Reds - Administration???
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Pirate Pig View Drop Down
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Points: 824 		Post Options Post Options   Thanks (1) Thanks(1)   Quote Pirate Pig Quote  Post ReplyReply Direct Link To This Post Posted: 02 Oct 2023 at 18:22
I wish Jersey well but in my opinion they have already breached the regulations for playing in this season's championship by failing to fulfill the fixture in Penzance last Friday.
Other clubs who are due to play them in the next few weeks need clarification ASAP so they do not incur any unnecessary costs.
If Jersey in their current set up can be saved they need to accept the consequences and start again at the bottom of the league pyramid.
Since my initial post the premiership cup is subject to its own regulations independent of the championship so I suppose in theory they have until the first league weekend before any breach of the championship regs would take place.


Edited by Pirate Pig - 02 Oct 2023 at 18:38
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Great news about salaries, very generous family office. Well done them.
Run with it
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No league fixtures missed yet, is that not what counts?
Onward and Upwards C'mon Donny!
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 Pirates must be  twenty thousand + out of pocket  after
Friday's cancellation .
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I am amazed that more clubs havent gone bust.
Five months since the last home game!
Premiership 2 promises 9 home games a season!
What is the point?
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Originally posted by castleparknight castleparknight wrote:

No league fixtures missed yet, is that not what counts?

As Jersey Reds have suffered an insolvency event and even if they were to commence matches this season through some rescue deal they would have to start on -35 points as per the RFU’s regulations. 
Watch Out - The Scottish Phoenix Club is on the Up!!

Seven down one to go
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Originally posted by billybob billybob wrote:

I am amazed that more clubs havent gone bust.
Five months since the last home game!
Premiership 2 promises 9 home games a season!
What is the point?

Oddly enough jersey just had one of their biggest home games possible with a near full strength Exeter side in town just 10 days ago.
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Negotiations behind the scenes ongoing in attempt to save Jersey Reds | ITV News Channel
The key points which may be discussed in the public forum of the Jersey Government today (live on radio Jersey) are:

To try and enable the club's survival, Deputy Lyndon Farnham has lodged a proposition for Jersey's States to provide funding for the Reds.

Deputy Farnham said: "I understand from Jersey Reds and the RFU that, if a sustainable funding solution can be put in place by the end of this week, the position can be salvaged, Jersey Reds can be saved and will be able to participate in the forthcoming 2023/2024 season."

"To that end, I will be seeking the leave of the Assembly to reduce the lodging period to enable the Proposition to be debated at this week's sitting." he added.

Emergency political push to get Gov to yield on more Jersey Reds funding | Bailiwick Express Jersey



Edited by corporalcarrot - 03 Oct 2023 at 07:07
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I don’t want to be a pessimist but I would think a rescue of Jersey Reds to be unlikely. The new funding required to conduct such a rescue will be significantly more than was necessary a week ago as creditors will be queuing up for payment and would be unlikely to extend further credit.

I hope I am proved wrong 
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Originally posted by Big Eddie Big Eddie wrote:

I don’t want to be a pessimist but I would think a rescue of Jersey Reds to be unlikely. The new funding required to conduct such a rescue will be significantly more than was necessary a week ago as creditors will be queuing up for payment and would be unlikely to extend further credit.

I hope I am proved wrong 
You are probably right mate but I give credit for trying. I even give credit to the local Supermarket up the hill from where you stayed who gave some lamb chops to one of the big forwards who didn't get paid last Friday. I am gutted for Pirates who lost out last Friday and for every other club but Jersey are trying in lots of ways to make good. 
For those interested:


Edited by corporalcarrot - 03 Oct 2023 at 09:20
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Ealing match officially called off as of about 5 minutes ago.
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CC, 

I concur with your sentiments completely. It is always a good thing when a community comes together and there is always a chance that these initiatives extend to all creditors to allow a rescue to work.

My caution was only prompted by previous difficult experiences. But one thing is for certain if there isn't an effort there will be no rescue.

Kind Regards and here is hoping for the best 
Big Eddie
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Unfortunately for Jersey this will need to be finalised one way or another this week. For clubs playing Jersey it is not simply getting on a train or booking a coach. Flights to Jersey need to be booked months in advance or there will be no space on the Planes. It is already difficult with last minute cancellations of flights leaving clubs to fly Friday and come back Sunday and two nights in a hotel which also need to be booked well in advance (Months not weeks) so it is important to get this resolved now. 
The loss of Home games will also impact on Clubs income as the Jersey game attracts large crowds. I know that Doncaster are also upset as this will be the second time they have lost a home Xmas lunch fixture. So it is not Just Jersey who will feel the cost.
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For those interested the afternoon session which starts at 2.30pm is broadcast via:
I suspect the Jersey Reds funding proposal will be last item discussed.

The formal government proposal & amendment:


Edited by corporalcarrot - 03 Oct 2023 at 13:14
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Originally posted by workerbee workerbee wrote:

Unfortunately for Jersey this will need to be finalised one way or another this week. For clubs playing Jersey it is not simply getting on a train or booking a coach. Flights to Jersey need to be booked months in advance or there will be no space on the Planes. It is already difficult with last minute cancellations of flights leaving clubs to fly Friday and come back Sunday and two nights in a hotel which also need to be booked well in advance (Months not weeks) so it is important to get this resolved now. 
The loss of Home games will also impact on Clubs income as the Jersey game attracts large crowds. I know that Doncaster are also upset as this will be the second time they have lost a home Xmas lunch fixture. So it is not Just Jersey who will feel the cost.

I know that The Pirates had already booked and paid for their flight to Jersey November 4th, may well have had hotels booked too I expect. Add to that the loss of the game at The Mennaye with such short notice the financial hit must be pretty horrendous for us.
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This has appeared in the Bailiwick Express today ahead of the government meeting.
It makes difficult reading for their supporters and a further bail out from the local authority unlikely.
"Jersey Reds directors have been accused of driving the beloved island club into a “financial black hole”, with cumulative losses of £2.6m since 2017 and an outstanding tax bill of more than £450,000.

The claims came from Ministers, as they hit back at suggestions Government should stump up more funding – in addition to £370,000 supplied in recent months – to keep the club afloat through the 2023-2024 season.

However, a comments paper published by Ministers this morning tore apart the proposal – arguing that it carried a “material deadweight risk”.

Spending too much, too quickly?

It laid out what was described as a “track record” of “weak” financial management by the board, and said this demonstrated that there could be "no confidence" in their abilities to "conduct the affairs of the company prudently". 

Facing a grilling in the States Chamber this morning, Economic Development Minister Kirsten Morel and his Assistant Minister, Lucy Stephenson, attempted to shed more light on how the club had “consistently overspent and drawn down investors’ money at a much faster rate than expected” and the Government's various attempts to keep them afloat with funding over the years.

In a statement, Deputy Morel also spoke of a number of instances when the club had allegedly failed to engage or speak openly about their difficulties.

He claimed that the Reds’ board had failed to communicate their difficulties to Deputy Stephenson in November 2022 – only to ask previous Government CEO Suzanne Wylie for “urgent funding of £250,000 with a further £250,000 to follow later in 2023”.

The request was denied in January this year in a letter from Deputy Stephenson, who offered to meet to discuss matters further – this offer “was not taken up”. 

Unpaid taxes

Among the key financial difficulties to emerge this morning was that the Reds are currently facing a bill of more than £450,000 in unpaid taxes – including ITIS, Social Security and GST.

The report released by Ministers this morning stated that "the professional club has had its ITIS payments effectively deferred in recent months and this figure can no longer be considered part of the club’s economic value".
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The recording of the debate in the States did not sound like there was any support for giving the club more money. It was clear the minister thought it would simply disappear into the same black hole as previous grants.


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I am generally a fierce critic of the RFU ........but such financial mismanagement cannot be laid at the RFU's door
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The RFU recognises that competitive league structures are dependent on the
financial sustainability of clubs. Insolvency situations threaten the integrity of a
league and expose rugby creditors to losses.

The RFU is entitled to require such Club to provide to the RFU and/or its appointed
representatives or advisers such accounting records referred to in regulation 11.1(a) above as
the RFU deems necessary


The question is, what does the RFU do with the accounts the clubs provide.
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Originally posted by Sid James Sid James wrote:

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?

I think I said this around 6 days ago and was somewhat admonished. Some people need to wake up.
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