ADVERTISEMENT
RugbyDump
REGISTER
LOGIN
ADVERTISEMENT
RugbyDump
Thursday Sep 28, 2023

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

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

  • 10 WEEKS AGO

    Vakatawa signs for English Premiership side...

  • 10 WEEKS AGO

    Australia drop to lowest ever position as...

  • 10 WEEKS AGO

    Exclusive: 'The Aussie DNA is missing' -...



ADVERTISEMENT

Great Tries

  • 6 WEEKS AGO

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

  • 7 WEEKS AGO

    Fiji number eight Viliame 'Bill' Mata scores audacious try

  • 8 WEEKS AGO

    Wild scenes in Toulouse as Portugal seal last gasp comeback win over Fiji

  • 13 WEEKS AGO

    South African schoolboy produces the greatest goosey in the sport

  • 15 WEEKS AGO

    Incredible team try showcases thrills of the grassroots game

View All

Big Hits & Dirty Play

  • 2 WEEKS AGO

    Streaker causes major bust up as he tackles player

  • 2 WEEKS AGO

    Monster hit from Perrin leaves Bristol Bears player stunned

  • 4 WEEKS AGO

    Posolo Tuilagi's massive tackle lights up Top 14

  • 6 WEEKS AGO

    Theo Dan in the centre of 'punch' storm as possible infringement missed

  • 6 WEEKS AGO

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

View All

See It To Believe It

  • 2 WEEKS AGO

    Compilation video shows Jamie George's surprising box of tricks

  • 8 WEEKS AGO

    Eddie Jones reported to have negotiated return to Japan national side

  • 9 WEEKS AGO

    Rees Zammit hits Olympic level as 100m sprint time is officially finally released

  • 10 WEEKS AGO

    Shocking record set to be broken at this year’s World Cup

  • 15 WEEKS AGO

    Incredible team try showcases thrills of the grassroots game

View All

Funnies

  • 2 WEEKS AGO

    Streaker causes major bust up as he tackles player

  • 6 WEEKS AGO

    Luke Cowan-Dickie left red faced after losing very costly bet

  • 6 WEEKS AGO

    Mack Hansen proves once again that he is a hero in Ireland

  • 7 WEEKS AGO

    Irish players brilliantly take the p*** out of Sexton on plane intercom

  • 8 WEEKS AGO

    Brilliant video of Andy Farrell readying the Irish troops for battle

View All

Amateur

  • 47 WEEKS AGO

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

  • 47 WEEKS AGO

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

  • 70 WEEKS AGO

    Dubious Score Decides Result Of Rugby's Biggest Schools Fixture

  • 70 WEEKS AGO

    Incredible Scenes At School Boys Rugby Match

  • 71 WEEKS AGO

    The Next Dominant Backrow?

View All

Player Features

  • 2 DAYS AGO

    Transfer News: George North to take considerable talents to France

  • 2 DAYS AGO

    Tom Foley takes break from officiating international matches following death threats

  • 5 DAYS AGO

    James Haskell shares thoughts on 'best mate' Owen Farrell

  • 6 DAYS AGO

    The key change Steve Borthwick has made to England squad selection

  • 1 WEEK AGO

    Siya Kolisi opens up about stabbing incident in powerful interview with Dan Biggar

View All