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Rugby Union
Premiership Rugby / Premiership Cup
English rugby clubs ‘heading for disaster’ after mounting £300m in debts
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<blockquote data-quote="Vieux Talonneur" data-source="post: 1223735" data-attributes="member: 73144"><p>If you lend money, you expect it back on agreed terms, whether you're a government or a bank. Public money brings bigger scrutiny.</p><p></p><p>Covid was the straw that broke the camel's back but the clubs have been financially mismanaged before and since.</p><p></p><p>For some reason too many people think different rules apply to sport, a view I might share if clubs were (part) community owned. But they're not - they've sold out to private wealth and as such they should stand or fall on their own commercial merits, just like any other business.</p><p></p><p>There are obviously massive individual variances, but when people read that the average Prem player salary is north of £100K p.a (still a massive amount for most people), there's not going to be a lot of sympathy about enforcement of loans.</p></blockquote><p></p>
[QUOTE="Vieux Talonneur, post: 1223735, member: 73144"] If you lend money, you expect it back on agreed terms, whether you’re a government or a bank. Public money brings bigger scrutiny. Covid was the straw that broke the camel’s back but the clubs have been financially mismanaged before and since. For some reason too many people think different rules apply to sport, a view I might share if clubs were (part) community owned. But they’re not - they’ve sold out to private wealth and as such they should stand or fall on their own commercial merits, just like any other business. There are obviously massive individual variances, but when people read that the average Prem player salary is north of £100K p.a (still a massive amount for most people), there’s not going to be a lot of sympathy about enforcement of loans. [/QUOTE]
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English rugby clubs ‘heading for disaster’ after mounting £300m in debts
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