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WRU Statement: Loan facility

WRU

The Welsh Rugby Union has offered to consider a loan facility for the four Regions related to their postponed ERC funding payment.

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All the Regions have indicated publicly that the payment delay is causing them serious financial consequences.

The WRU is prepared to cover the full amount of postponed payments on a temporary basis subject to the loan getting formal WRU Board and bank approval.

The loan offer was made to the Regions before the ERC Board meeting on Wednesday 5 February when the postponement of payment distributions was confirmed.

If the WRU receives a request from the Regions the governing body would consider it positively as a matter of urgency.

The ERC Board has unanimously agreed to postpone all further payment decisions until 19 February when the Board will meet again.

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