ADVERTISEMENT
ADVERTISEMENT

The future of Championship side in doubt as club ceases trading with immediate effect

BY Jack Tunney  ·  Thursday Sep 28, 2023

Championship winners, Jersey Reds, have been forced to cease trading with immediate effect following a period of financial uncertainty.

Despite the club performing incredibly well on the field, their state of affairs off the field has not had the same fortunes. The Covid effect has put huge pressure upon a club looking to continue to financially support their professional players and staff, as well as maintain a stadium they bought pre-pandemic.

The club were on a sturdy financial footing pre-pandemic when they were supported with a funding allocation from the RFU of £500,000 per year. Since that time, that figure has since been reduced to just £150,000, making it unsustainable for the club to continue at their current pace.

Reds chairman Mark Morgan said in a club statement: “We had been able to start the season and maintain sufficient funds to cover the summer, but regret that our conversations with potential new investors as well as existing ones have been unsuccessful,”

“At one stage at the end of last season it appeared there was a viable way forward for the second tier once the new Professional Game Agreement was implemented from summer 2024, but Championship clubs have been left in the dark since that point and this led to a growing fatigue among those who may have invested, but could not be given any concrete assurance about when the new structure would come in, or how it would be funded.

“There are a large number of players, coaches and other members of staff who have made huge contributions to the club in recent seasons, and we regret that the massive effect this will have on all of them – it’s a very sad day.”

It is extremely disappointing that investors would take decisions at this early point in the season to place the club in such a position,” the RFU contributed to the discussion.

“Championship clubs had clear confirmation from the RFU on funding for the 2023-24 season and we have been working with the Championship and Premiership Rugby on the new Professional Game Partnership and shape of Premiership 2 with funding levels to be confirmed at the end of this calendar year.

“The Championship has been fully involved in these discussions since February which are aimed at stabilising and strengthening the professional game.”

Jersey Reds claim that they are now unable to pay players and staff their wages that are due at the end of this month, and that the club will face full liquidation if a new buyer is not found.

ADVERTISEMENT

Comments




Related Articles

  • 5 WEEKS AGO

    WATCH: Bielle-Biarrey & Penaud stunning long-range...

  • 5 WEEKS AGO

    Springbok star leaves Ulster Rugby following...

  • 5 WEEKS AGO

    Jonny Gray to exit Exeter Chiefs with immediate...



ADVERTISEMENT

Great Tries

  • 7 WEEKS AGO

    Five of the best tries from the Investec Champions Cup

  • 17 WEEKS AGO

    The dummy that sold the whole of Perth - including the cameraman

  • 18 WEEKS AGO

    Bayonne score 'one of the best tries you'll ever see' in latest match against Exeter

  • 19 WEEKS AGO

    Baloucoune shows Andy Farrell what he's missing as the winger tears through Harlequins defence

  • 31 WEEKS AGO

    Seriously impressive Courtney Lawes compilation released after England player calls time on international career

View All

Big Hits & Dirty Play

  • 5 WEEKS AGO

    Danny care binned for high tackle on Courtney Lawes

  • 5 WEEKS AGO

    Debate rages on after Maro Itoje sent to bin for high shot

  • 7 WEEKS AGO

    Fiji Drua player Lomani slapped with ban following elbow attack

  • 17 WEEKS AGO

    The sending off that rocked the Six Nations opener

  • 17 WEEKS AGO

    Wrecking ball beats 10 players to score full length of the pitch try

View All

See It To Believe It

  • 5 WEEKS AGO

    Danny care binned for high tackle on Courtney Lawes

  • 5 WEEKS AGO

    Wild start at Twickenham as Quins pull off another wonder-try

  • 7 WEEKS AGO

    Tickets now on sale as World XV set to face France in thrilling encounter

  • 7 WEEKS AGO

    '60 metres, plus change' - massive drop goal stuns fans

  • 7 WEEKS AGO

    Referee makes 'tackle of the season' as he gets too close to the action

View All

Funnies

  • 3 WEEKS AGO

    Nick David unexpectedly shows up to semi final in full kit

  • 5 WEEKS AGO

    WATCH: The worst camera angle in rugby history

  • 6 WEEKS AGO

    Louis Rees-Zammit's real reason for NFL move exposed

  • 8 WEEKS AGO

    George Ford falls victim to the kickers curse

  • 9 WEEKS AGO

    Awesome scenes as Blitzbok fan throws down at the HSBC SVNS

View All

Amateur

  • 72 WEEKS AGO

    You Won’t See Many Better Than This Silky-Smooth Try From Llandovery RFC

  • 72 WEEKS AGO

    Incredible Scenes As Caldy RFC Hand Ealing First Championship Defeat Of The Season

  • 95 WEEKS AGO

    Dubious Score Decides Result Of Rugby's Biggest Schools Fixture

  • 95 WEEKS AGO

    Incredible Scenes At School Boys Rugby Match

  • 96 WEEKS AGO

    The Next Dominant Backrow?

View All

Player Features

  • 4 DAYS AGO

    Toulouse player ratings: "Does this Dupont fella ever take a day off?"

  • 4 DAYS AGO

    Saracens new flyhalf orchestrates incredible victory for Crusaders over the Blues

  • 5 DAYS AGO

    Exclusive: Jack Clement highlights Gloucester's mindset heading into Challenge Cup final

  • 5 DAYS AGO

    Former World Rugby Player of the Year on bench as Champions Cup final squads are announced

  • 5 DAYS AGO

    Ellis Genge responds after being ruled out of summer tour

View All