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Problems at secure trading

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Pappashanga View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pappashanga Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 09:26
And so it goes on.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pistacio Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 09:38
This is a lot of speculation about OE's financial position.  If secure trading are having issues does anyone have any concrete evidence this will immediately affect OE's upcoming season? 

Does anybody know the time frame for them having to report anything to the leagues/ rfu ? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tulip Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 11:56
What would happen if OE's lose their players and have to drop down the leagues. Would Caldy not be relegated
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 12:03
Only if they withdraw by tomorrow.
After that national 1 goes ahead with 15 - with only 2 relegated at the end of the season.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 12:33
Originally posted by Camquin Camquin wrote:

Only if they withdraw by tomorrow.
After that national 1 goes ahead with 15 - with only 2 relegated at the end of the season.



So a 6% reduction in gate/bar income for every team in National 1 - which can be significant when taken off the budgeted bottom line

Edited by FHLH - 30 May 2019 at 12:34
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 12:33
To answer Pistachio's question.

By 31st May (tomorrow) all clubs in or wishing to be promoted to the Championship need to provide a detailed financial statement including statement of their trading position against budget and chash flow forecast for next year.

If the RFU have concerns over the financial stability of any  championship or Nat 1 club they have powers to investigate.

If the account show serious financial difficulty - the RFU can take whatever action they consider appropriate.

OEs must have submitted such accounts last season. As RFU have not been paid, that would seem a reasonable concern that SE might not pay OEs.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 12:37
However, just because they've lost a major sponsor and possibly some players, doesn't mean that OE cannot fulfill their fixtures.
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote workerbee Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 13:52
So the RFU will investigate any club they feel is in financial difficulties so why are they in such a mess obviously did not look at themselves. All Counties are advising clubs to look at the RFU documents relating to good governance 
 this is what is on the Cheshire Website :

"Governance has become an increasingly important issue that rugby union clubs have to address. This is due to examples of compliance requirements (legal & insurance), poor management, financial failure, and to maximise the opportunity of public funding resulting in a need for better sports administrative structures.

Guidance and information on good club governance for your club is readily available at www.englandrugby.com/governance and includes health checks, guides, and templates.

A good starting point is to complete the RFU Good Club Governance Health Check.

Click on the link below for access to the latest Club Management guide

ClubManagementReferenceGuide_English August 2018"

So why did they not do it to themselves!!

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Post Options Post Options   Thanks (0) Thanks(0)   Quote castleparknight Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 14:35
What you mean Workerbee is:

Thou hypocrite, first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother's eye.

Matthew 7:5
Onward and Upwards C'mon Donny!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote elmsall man Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 15:35
C P K
you must have started early today or have you been on the road to Damascus
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 15:47
Which league do they play in?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gavinl40 Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 16:08
Afternoon 

I have read with interest all your points over the last 48 hours or so. 
Of which I may add, none are near or even close to the truth, but hey, why let that get in the way of a good story!

Firstly, I'd say most clubs change their main sponsor every 3 to 5 seasons, just check what's on the front of your playing shirts if you're not sure, We have had ST for 10 as a principle sponsor, so we in a way were lucky! 

Whatever else has happened really has nothing to do with OEs!

So, to put the record straight and I will not reply again, but you may all sleep easy tonight:

Fact:

The new owners of ST have amended their marketing spend and that now does not include 7s or rugby in general.

Although ST was a sponsor of OEs, it was not the sole or stand alone sponsor or supporter of the club.

New sponsors/funding has already been agreed with a major international company and  this partnership will be made public very soon.
  
We are grateful for the support we have received from ST over the years and we thank them for that.

End






Edited by Gavinl40 - 30 May 2019 at 16:49
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Camp Freddie Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 16:21
Great, so I suppose that Grass Roots Rugby will have the burden of another £1 million loss by the RFU
The road of excess leads to the palace of wisdom.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WEvans Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 16:57
Originally posted by Runitback Runitback wrote:

Tell me a rugby club that would'nt take the money . . . sometimes it works and sometimes not, Saracens have burnt through circa £50m of Mr Wrays wealth!

But I believe according to the salary cap administrators it's only £50!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote FHLH Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 17:05
Originally posted by Gavinl40 Gavinl40 wrote:

.. why let that get in the way of a good story


Clearly with no rugby around, it became the silly season. Thank you.

Opinions / rsoles? Chinaman / Googly?

Edited by FHLH - 30 May 2019 at 17:05
"My father told me big men fall just as quick as little ones, if you put a sword through their hearts."
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Camquin View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Camquin Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 17:30
Gavin -- that is of course the best outcome.
Hopefully we will see you on October 5th.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Insignificant Tick Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 17:56
[QUOTE=Gavinl40]Afternoon 

I have read with interest all your points over the last 48 hours or so. 
Of which I may add, none are near or even close to the truth, but hey, why let that get in the way of a good story!

Firstly, I'd say most clubs change their main sponsor every 3 to 5 seasons, just check what's on the front of your playing shirts if you're not sure, We have had ST for 10 as a principle sponsor, so we in a way were lucky! 

Whatever else has happened really has nothing to do with OEs!

So, to put the record straight and I will not reply again, but you may all sleep easy tonight:

Fact:

The new owners of ST have amended their marketing spend and that now does not include 7s or rugby in general.

Although ST was a sponsor of OEs, it was not the sole or stand alone sponsor or supporter of the club.

New sponsors/funding has already been agreed with a major international company and  this partnership will be made public very soon.
  
We are grateful for the support we have received from ST over the years and we thank them for that.

End

/QUOTE]

Not quite so simple. Have the new owners just not renewed their 7's sponsorship or actually stiffed the RFU for a million quid ?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Alderman Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 18:22
As an OEs member who has not commented so far, was very heartened to read Gavin's posting.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Raider999 Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 18:28
Originally posted by Alderman Alderman wrote:

As an OEs member who has not commented so far, was very heartened to read Gavin's posting.


Good news for OEs - nobody wants another London Welsh situation.
RAID ON
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Post Options Post Options   Thanks (0) Thanks(0)   Quote wanderer Quote  Post ReplyReply Direct Link To This Post Posted: 30 May 2019 at 19:48
Alderman. Here here
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