Wru's Acquisition Of Troubled Cardiff Cost £780k

The Welsh Rugby Union's acquisition of nan business and assets of Cardiff Rugby costs astir £780,000, nan governing assemblage has confirmed.

The Cardiff Arms Park outfit were placed into management by its board and connected Wednesday nan WRU confirmed it had taken power of nan superior region.

It now says acquisition costs for nan nine were made up of astir £480,000 successful rate and £300,000 of debt.

WRU chair Richard Collier-Keywood said: "Despite being owned by nan WRU, our volition is to dainty Cardiff arsenic an independent rugby club, akin to nan different location sides and nan WRU will presume nan domiciled of 'owner'.

"We wanted to supply a safe harbour whilst we tie activity and look astatine what's correct successful nan longer term."

He added: "Various cardinal supplier contracts were transferred to nan WRU subsidiary to alteration nan Cardiff Rugby business to proceed to trade."

The WRU states nan transaction "safeguarded nan jobs of astir 150 people", including each players, while besides allowing nan business to proceed to run - now arsenic a WRU subsidiary.

All lucifer tickets including play tickets together pinch sponsorships and hospitality will beryllium honoured.

Leighton Davies, main operating serviceman of nan WRU, and Steve King, WRU main information and integer officer, person been appointed arsenic board connected nan Cardiff board.

"At nan clip of nan transaction, Cardiff Rugby Limited owed nan WRU astir £9.1m," added Collier-Keywood.

"As portion of its commitments successful nan caller draught Professional Rugby Agreement (PRA25) nan WRU has committed to trim nan indebtedness generated during nan Covid-19 pandemic by replacing it pinch longer word capital.

"This amounts to astir £3m for Cardiff and this transaction gave america nan opportunity to do this astatine nan aforesaid clip by utilizing £3m of nan money we were owed and converting this into an finance into Cardiff.

"Leaving our caller subsidiary owing nan remaining £6m to nan WRU. As portion of nan caller PRA25, it is our volition to supply nan different 3 master clubs pinch akin indebtedness relief."

The illness of Cardiff intends professional rugby successful Wales faces yet different delay to its long-awaited caller backing plan.

A woody betwixt nan governing assemblage and its 4 location sides appeared adjacent to being finalised, though nan WRU's rescue of Cardiff has put that first statement connected hold.

Following confirmation of their takeover of Cardiff, WRU main executive serviceman Abi Tierney stated "it is unthinkable for america to let nan demise of master rugby successful nan Welsh capital".

Cardiff are ninth successful nan United Rugby Championship (URC).

Matt Sherratt's broadside return to action successful an all-Welsh URC fixture pinch Ospreys astatine nan Principality Stadium connected Saturday, 19 April (15:00 BST).