Rugby Union Sports Law News 25 Feb 2014
Published 25 February 2014 By: Henry Elkington
European Rugby Debacle Continues
The ongoing saga over the future of European Rugby continues this week. The postponement of payment from the Heineken Cup’s organisers the European Rugby Cup Ltd (ERC) was unanimously agreed on Wednesday 5 February after receiving legal advice.
Another board meeting has been scheduled for 11 March however the hope is that a resolution will be reached the day before, at a crucial shareholder's meeting (10 March).
Following this postponement of payment, after a plea for financial help from the four Welsh Regional sides on 18February to the Welsh Rugby Union (WRU), a loan was agreed. The Regions were waiting on payment of €200,000 which was due on 5 February for their participation in the European tournament. The interest free loan of £660,000 (to be shared between the four Regions) was confirmed on 18 February. This show of support to the Regions from the WRU could be viewed as a sort of olive branch following the Welsh Rugby's own problems at present.
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Henry is an aspiring sports lawyer, currently completing his GDL in Cardiff. Henry graduated from the Cardiff University with a B.A. in History and Philosophy. He has a passion for all sports especially rugby and tennis having played for the first team at Cardiff University.