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Story by Chris Foy for the Daily Mail • 3h ago
London Irish players, coaches and staff are anxiously waiting to discover if they will be paid later this week amid growing fears of financial turmoil, as a buy-out of the club has been delayed.
Sportsmail has learned that Exiles employees are worried about the threat of their monthly wages not being received. It is understood that coaches and players have been seeking assurances, after being made aware of potential trouble.
Last night, Premiership Rugby and the RFU claimed that ‘a cash flow solution’ has been found, to alleviate the danger of the payroll deadline not being met. However, any solution is based on confirmation of new investment — believed to be from the United States — which has been held up for some time.
Well-placed sources say this is not the first time this season that there have been doubts over wages, at a time when owner Mick Crossan has been trying to relinquish control of the club. It is thought that there were similar fears around Christmas, which proved to be unfounded. Employees have been told repeatedly that a buy-out is imminent — but that is yet to take place.
The PRL hierarchy are convinced it will happen ‘soon’, with the spectre of Wasps and Worcester’s financial collapses still looming large over the sport.
Crossan told Sportsmail last September that he was ready to give Irish away for free, having presided over a return to London from Reading, in a ground-share with Brentford. ‘If anyone’s looking to buy a rugby club with its own training ground and perpetual (P) shares then they don’t even have to buy it,’ he said. ‘I’ll give it to them as long as they fund it.’
However, the Exiles are deemed to be at ‘high risk’ of financial difficulties as they have a modest turnover and a substantial amount of debt. On the field, they are going well, with Declan Kidney’s side up to fourth in the league.
Irish also have a thriving academy, with graduates including England wings Henry Arundell and Leicester-bound Ollie Hassell-Collins, plus Will Joseph and Tom Pearson.
Meanwhile, former England full back Mike Brown has voiced his support for central contracts to stop the exodus of players to France.
Several England internationals are moving across the Channel after the World Cup, with Anthony Watson in talks to join them.
With Premiership clubs being financially out- muscled due to budget and salary-cap constraints, the RFU have been urged to intervene.
On the day he signed a contract extension with Leicester until the end of the year, Brown said: ‘It takes those at the top to be aligned and to be creative. Central contracts could be a good idea, taking the pressure off clubs financially. Hopefully, in the future, we won’t see players having to go abroad through lack of jobs or financial pull.’
Saracens are optimistic over skipper Owen Farrell (left), who limped off after appearing to roll his ankle during the win over Harlequins last Saturday. Sources have indicated his condition is ‘not serious’ and any lay-off will be ‘very short-term’.
https://www.msn.com/en-au/money/othe...f64d48e7&ei=65
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3rd club in the English Premiership to be in recent financial trouble?
Last edited by jargan83; 29-03-23 at 11:24.
I'm not sure about this, but don't the Premiership clubs operate with no salary cap and independent of the RFU? Any remedy to that situation could be to the benefit of Ocania and others. The hurdle might be the Premiership board. The clubs own 73% of the comp. Private equity only 27%; but somehow hold 50% of directorships - read votes. The balance being the Chair, CEO & CFO. So it looks like the clubs hold the cards; but do they really?
"The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David
The Premiership has a salary cap, although whether/how rigorously its audited I don't know.
The central contracts (mentioned in the article above) would mean that the salary cap could be better monitored, and allow the England players to get paid via England Rugby rather than current system of being paid by the clubs and the clubs getting compensated for their call-ups. But rugby in England from the amateur era has been controlled by the clubs rather than by England Rugby, and the clubs are wary of giving up control. The financial issues may be what pushes them into a more modern set-up.
Don't tell me the sky's the limit when there are footprints on the moon
Didn't Sarries fall foul of the salary cap big time quite recently...?
Yeah, lost competition points and I believe relegated for a year as a result. But if Aussie rugby is anything to go by, I reckon several teams were doing the same thing and somebody at sarries just pissed off the wrong bloke.Listening to english rugby commentary, sarries piss a lot of people off, sarries supporters say it's because they're successful,
C'mon the![]()
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