I couldn't agree more. Newport Athletic Club. A stadium in central Newport. Land which could host world class tennis. A proud 100+ history. No financial problems.Amberexile wrote:The whole thing stinks if you are a Newport RFC fan.Willthiswork wrote:Something stinks about the way the directors would only write off their debts if the WRU purchased RP.NearlyDead wrote:Yes.Willthiswork wrote:I believe there was about £4m of other loans to the directors that they wrote off following the deal.George Street-Bridge wrote:It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?
The headline figure is always quoted as £3.75m, but in reality something in the region of £10m would have been needed by anyone other than the WRU.
Gone like a fart in a thunderstorm. And in about as short a time to boot.