London Welsh in Liquidation

[Smudge]

Very sad that following a second winding up order and the non appearance of the
promised investment They have gone into voluntary liquidation. 40 staff to go.
Really sad that a once great club end up like this.

[jgriffin]

Very sad that following a second winding up order and the non appearance of the
promised investment They have gone into voluntary liquidation. 40 staff to go.
Really sad that a once great club end up like this.

Sodding awful. Frankly, broken by the ridiculous championship system and with no moneybags, unlike Briz.
Who owns Deer Park? Love that ground.

[Hot_Charlie]

I hope the players and support staff can find places elsewhere for the rest of the season. A couple of ex-Tigers down there in Pienaar and Beckett (Dual registered with Glaws, so I assume he goes back).

[Noddy555]

I still find it astonishing that in a supposed Rugby loving nation like Wales that there isn't one rich person man or woman that will not step in to prevent this happening. London Welsh has been around for a very long time and to see it founder like this is heart wrenching.

[Iain]

I think it's a fair conclusion to draw that their promotions killed them one way or another. Had they not got promoted, they wouldn't have pursued the Kassam Stadium as an option and therefore wouldn't have abandoned their support base at Old Deer Park and wouldn't have spent big money that they couldn't afford after relegation.

Can someone more learned on the situation than me clarify something: do they receive parachute payments from the Premiership upon being relegated?

[strawclearer]

Can someone more learned on the situation than me clarify something: do they receive parachute payments from the Premiership upon being relegated?

No doubt HMRC will be hoping so.

[Iain]

Can someone more learned on the situation than me clarify something: do they receive parachute payments from the Premiership upon being relegated?

No doubt HMRC will be hoping so.

Indeed so. I'm just interested to know whether Premiership Rugby aims to support clubs to avoid this when they get relegated or are they cast adrift. I genuinely don't know.

[h's dad]

Can someone more learned on the situation than me clarify something: do they receive parachute payments from the Premiership upon being relegated?

No doubt HMRC will be hoping so.

Indeed so. I'm just interested to know whether Premiership Rugby aims to support clubs to avoid this when they get relegated or are they cast adrift. I genuinely don't know.

Probably not quite as full or clear an answer as you would like but:

http://www.bbc.co.uk/sport/rugby-union/30954328
""Each club promoted to Aviva Premiership Rugby has the ability to become a full shareholder over time and also benefit from the parachute payment if relegated," a Premiership Rugby spokesman told BBC Sport."

http://www.telegraph.co.uk/sport/rugbyu ... apped.html
"Nowadays, because the side going down get a parachute payment, you are strong enough financially for the following 12 months. It is only if you do not get back up immediately that it becomes a real issue. You are then losing share capital from Premiership Rugby."

[Iain]

Right, that makes sense.

[arickett]

Can someone more learned on the situation than me clarify something: do they receive parachute payments from the Premiership upon being relegated?

No doubt HMRC will be hoping so.

Indeed so. I'm just interested to know whether Premiership Rugby aims to support clubs to avoid this when they get relegated or are they cast adrift. I genuinely don't know.

It is very sad that this happened, but London Welsh did this to themselves, they took legal action to be allowed to do this to themselves.

[bageo]

Indeed so. I'm just interested to know whether Premiership Rugby aims to support clubs to avoid this when they get relegated or are they cast adrift. I genuinely don't know.[/quote]

Probably not quite as full or clear an answer as you would like but:

http://www.bbc.co.uk/sport/rugby-union/30954328
""Each club promoted to Aviva Premiership Rugby has the ability to become a full shareholder over time and also benefit from the parachute payment if relegated," a Premiership Rugby spokesman told BBC Sport."

http://www.telegraph.co.uk/sport/rugbyu ... apped.html
"Nowadays, because the side going down get a parachute payment, you are strong enough financially for the following 12 months. It is only if you do not get back up immediately that it becomes a real issue. You are then losing share capital from Premiership Rugby."[/quote]

I suspect London Welsh don't have any shares. I can't remember exact details (some were in Wasps and Quinns Prospectus - interesting read but I wasn't going to buy!).
Once promoted and you have the potential to buy either A or B shares (memory escapes me) from a club is out of the premiership, you then earn (the non buyable) A or B shares upto a maximum number for the number of years you remain in the topflight. Significant money is paid out depending on the shares you have. I think when Exeter bought their premiership shares in was in the millions to buy them.

[Brianf]

It is going from bad to worse, if that is possible, for the Club. So sad to see...

http://www.bbc.co.uk/sport/rugby-union/38736486

[Noddy555]

I was under the impression that as late as yesterday a high court judge had suspended the winding up order as London Welsh had voluntarily gone into administration so unless there has been a further development today, what is all the fuss about?

[Iain]

Well that's game over for them then. Very sad.

I'm sure they'll be back as a phoenix club though. There's too much history for them not to.

[Cagey Tiger]

I was under the impression that as late as yesterday a high court judge had suspended the winding up order as London Welsh had voluntarily gone into administration so unless there has been a further development today, what is all the fuss about?

Read the BBC article.