Hopefully it will create another space in the Championship for a promoted club!
Given our own problems over the years that strikes me as spectacularly poor taste.
Whatever we might think about some of their recent owners, there are good people involved at all levels of LW, especially in the M&Js, the supporters club, the players and the ordinary fans. They all now stand to suffer again.
There but for the grace of God...
26th July 2002 should be engraved on our gates just in case anyone forgets how close Mose have come to oblivion in the past.
Oh Yes quite right southernmose. My point was to get the story right in the first place. Lets just believe that despite the grave issues LW face THE CLUB and the LWelshians remain a famous rugby club for many years no matter what level.
Was a bit disappointed the other day on reading a contributor to Rolling Maul asking the question why do rugby people linger on the history of any club even though they may be at level 8 nowadays despite a illustrous history. Are they really a rugby follower with comments like that! Yes we all have ambitions and I'm sure KM will be the first to say that so does he and BhamMose Club. But lets be realistic!
Winding Up Order 31.10.16. Adjourned for "several weeks" in order for LW to pay debts which they say they are confident in fulfilling
HMRC have got the bit between the teeth with them. This is another £250k they need to pay within 42 days.
For reference, last time round they had to pay £140k, and despite the US investors who were supposed to be riding to the rescue, this was settled by a parent coach from their M&Js putting his hand in his pocket.
Unless they get actual investors on board, they're in an almighty mess.
.............including, of course Phil, those sticky wrapper throat lozenge for those MMMMMMMMMMMMMMMMMMMMMOOOOOOOOOOOOOOOOOOOOSSSSSSSSSSSSSSSSSSSSSSSSSSSSEEEEEEEEEEEEEEEE....ley moments....... ........no doubt its Victory V weather again................
It looks like they're deep in the mire. :-( Unless the RFU do something about the way they fund and promote – or rather don't fund and promote – the game beyond the Premiership, then LW won't be the only team to struggle. It seems to me that the Championship is a poisoned chalice: there's the lure of making it to the top table, but trying to get there can bankrupt you.
having seen the club at first hand when they played in Oxford I can't say I'm too surprised but at the same time the quote from the board is ludicrous - "one of the most important clubs in the world"?? Historic, definitely; storied, certainly; but important only works if you insert the words "was" and "40-odd years ago" into the sentence. Sadly, history is no guarantee of future.
I suppose it could work in terms of chivvying a sympathetic investor out of the woodwork, but aside from that it just looks like a woeful last throw of the dice - "we're too big to fail." No club should be and even if it were once true of LW it certainly isn't now.
On the other hand.... I know some of the people around LW and they are good people who don't deserve all this nonsense. Perhaps with some sensible restructuring they can take hope from LS, Richmond, and (dare I say it?) maybe even Moseley in terms of rebuilding a stable club on sound footings. And Welsh is a great name that it would be sad to lose, so hopefully something will work out for them. They're going to have to be spectacularly lucky to still be in the Championship next season though (if they can survive this one) I think sadly.
Post by Westcountry Mose on Nov 25, 2016 14:07:26 GMT
For the supporters of LW I hope the club survives. That said, had those with responsibility for running the financial affairs of LW ensured the club lived within its means then perhaps we might not have dropped through the Championship trap door at the end of last season? Our semi-pro team (living within its means) got 1 point from a possible 10 last season against a profession (and financially unsustainable) LW side.
London Welsh Rugby Club can confirm that the Club is to seek voluntary liquidation.
London Welsh Chairman Gareth Hawkins, said: “London Welsh has reached a difficult point in its illustrious history. Due to a playing budget of £1.7million and gates at games numbering as low 400, the Club’s current business model is totally unsustainable.
“The debts accrued from trading in this way have left the Club with no alternative but to seek liquidation. Having to break that news to 40 staff members yesterday was extremely difficult.
“All creditors of London Welsh Rugby Club will be contacted by the liquidator.
“In the New Year, it is the hope and intention of the Board that London Welsh will be able to return to playing at Old Deer Park, however it will first be necessary to change the Club’s business model to a semi-professional set-up and form a new company, and then raise £300,000 so that the Club can regain a position within the RFU Greene King IPA Championship.
“Richmond have proved that a club can compete in the Championship with a semi-pro model, and I firmly believe we can make this work in 2017.”
Could we say that LW survival in Championship level maybe relies on which players they can retain on semi-pro status - in other words will some of the players on high pay full time seek pastures new to maintain their incomes??!