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Thread: Valke Rugby Company to be liquidated

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    Valke Rugby Company to be liquidated

    The Valke Rugby Company will be liquidated due to financial distress brought about by the Covid-19 pandemic.

    The East Rand outfit was set for a financial injection after entering into a partnership with the Malaysia Rugby Union to compete in the Global Rapid Rugby competition.

    But the Valke said the revenue stream from their license agreement with Global Rapid Rugby stopped after the cancellation of the event.

    The Valke Rugby Company is set to be liquidated as a result of financial difficulties brought about by the Covid-19 pandemic.

    The union was set for a financial injection after entering into a partnership with the Malaysia Rugby Union to compete in the Global Rapid Rugby competition.

    However, the pandemic has scuppered those plans and the event was halted after just one round this year.

    In a statement released on Monday, the Valke said they are unable to pay player and employee salaries.

    The statement read: "It is with regret and great sadness that we have to announce that the professional arm of the Valke, the Valke Rugby (Pty) Ltd, is in financial distress and the directors of the company resolved that the company be wound up as it is unable to pay creditors and employees.

    "This decision was not taken lightly and the board of directors exhausted all avenues at their disposal to save the company from bankruptcy before concluding that the company be wound up."

    The Valke said the revenue stream from their license agreement with the Global Rapid Rugby competition stopped after the cancellation of the event.

    "Salaries of employees have not been paid at the end of July and we, as part of the Valke family, deeply regret the hardships this decision has caused to all involved. It has, however, become unavoidable. Our hearts go out to all players, employees and families of those affected during this time.

    "The Valke company relayed the decision to liquidate the company to all organisations representing the employees and players of the Valke company. We as the Valke union will do our utmost to support and assist every member of the Valke family and will co-operate with all organisations involved on behalf of their members.

    "The Valke Rugby Union (which runs amateur rugby) is not experiencing financial problems and all financial commitments to employees of the Valke union and its creditors are being honoured."

    On the domestic front, the Valke play in the Currie Cup First Division but SA Rugby has already indicated that the event will not take place in 2020 due to Covid-19.

    https://www.news24.com/sport/rugby/v...dated-20200804

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    Veteran valzc's Avatar
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    Bummer

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    "The Valke said the revenue stream from their license agreement with the Global Rapid Rugby competition stopped after the cancellation of the event"

    Should we assume the same the applies to Fiji, Samoa, Hong Kong, Shanghai (Bay of Plenty) and Taiwan (Crusaders) ?

    Is this the end of GRR?

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    Champion andrewg's Avatar
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    Quote Originally Posted by JSJ View Post

    Is this the end of GRR?
    In the way was set-up in 2020 - probably.
    But it's been different every year.
    Interested to see what unfolds in 2021............
    The Western Force continues through interesting times, and the professional game in WA stays alive.

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    Player chiraag's Avatar
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    Really have to feel for the other GRR teams, who would have spent significant time and money getting their teams up and running only to have it all fall apart.
    We've been extremely lucky to have the backing of Twiggy and Super Rugby AU to fall back into.

    Would love to see GRR resurrected in 2021 or 2022 as I'd much rather we weren't relying on the RA (by playing in a competition they are responsible for running), but imagine it is going to be extremely difficult....

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    Sad to hear, but I really, really hope there is going to be more going forward than trusting that RA loves West Australian rugby and will treat everyone equally...

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    Veteran Sheikh's Avatar
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    Quote Originally Posted by chiraag View Post
    Really have to feel for the other GRR teams, who would have spent significant time and money getting their teams up and running only to have it all fall apart.
    We've been extremely lucky to have the backing of Twiggy and Super Rugby AU to fall back into.

    Would love to see GRR resurrected in 2021 or 2022 as I'd much rather we weren't relying on the RA (by playing in a competition they are responsible for running), but imagine it is going to be extremely difficult....
    Yeah, I worry that the other potential GRR sides might find it more difficult to find backing for next year

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    Legend Contributor Alison's Avatar
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    My personal view is that GRR has run its course for now. I think the Force will join either an RA comp or an NZRU comp next year - whichever one is best for WA rugby.

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    Quote Originally Posted by Alison View Post
    My personal view is that GRR has run its course for now. I think the Force will join either an RA comp or an NZRU comp next year - whichever one is best for WA rugby.

    Sad, but believe you may be right.
    That's not to say it can't be resurrected later as the foundation is there.
    I also read another story that said they would have got $10 million rand from a full season of GRR but only got $3 million because of cancellation. Currie Cup changes that mean no Div One added to their problems.
    Oh yes - suggestions of financial impropriety were mentioned too. But it's SA what's new!

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    Quote Originally Posted by Alison View Post
    My personal view is that GRR has run its course for now. I think the Force will join either an RA comp or an NZRU comp next year - whichever one is best for WA rugby.
    So what happens to the impressive Mark Evans, CEO of GRR. Does he stay as CEO of just the Force? Or with Rob Clarke gone in December, does Mark perhaps put is hand up to be CEO of RA from December with Twiggy's full support.?

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    Quote Originally Posted by JSJ View Post
    So what happens to the impressive Mark Evans, CEO of GRR. Does he stay as CEO of just the Force? Or with Rob Clarke gone in December, does Mark perhaps put is hand up to be CEO of RA from December with Twiggy's full support.?
    Has he been back in the Old Dart for many months?

    That might contain the answer.

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    Legend Contributor Alison's Avatar
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    Quote Originally Posted by JSJ View Post
    So what happens to the impressive Mark Evans, CEO of GRR. Does he stay as CEO of just the Force? Or with Rob Clarke gone in December, does Mark perhaps put is hand up to be CEO of RA from December with Twiggy's full support.?
    I don’t think Mark would be interested in either role to be honest - not enough of a challenge for him. I imagine he’ll return to the UK permanently.

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    Legend Contributor Alison's Avatar
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    Quote Originally Posted by Kiap View Post
    Has he been back in the Old Dart for many months?

    That might contain the answer.
    He went back for a family matter just before the start of the season I think and then got stuck there when COVID hit and our border was closed.

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