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WRU reveal how much they paid for Cardiff Rugby
By PA
The Welsh Rugby Union has revealed that its acquisition of Cardiff cost approximately £780,000.
The WRU took control of Cardiff on Wednesday after the club’s legal entity, Cardiff Rugby Limited, was placed temporarily into administration.
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The move has saved an estimated 150 jobs, including that of the players, according to the WRU, and all match tickets, sponsorships and hospitality will be honoured.
WRU chair Richard Collier-Keywood said: “Despite being owned by the WRU, our intention is to treat Cardiff as an independent rugby club, similar to the other regional sides and the WRU will assume the role of ‘owner’.
“We wanted to provide a safe harbour whilst we draw breath and look at what’s right in the longer term.
“The immediate cost of the acquisition amounted to around £780,000, which paid for the assets and funded the costs of the administration and includes the assumption of £300,000 debt.
“Various key supplier contracts were transferred to the WRU subsidiary to enable the Cardiff Rugby business to continue to trade.”
WRU CEO Abi Tierney said: “Our team worked hard to minimise the disruption to the players, employees and stakeholders of Cardiff Rugby and we welcome our colleagues at Cardiff Rugby into the WRU family.”
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The WRU also confirmed that its chief operating officer Leighton Davies and chief data and digital officer Steve King have been appointed as the two directors of the club.
Cardiff are currently ninth in the United Rugby Championship and return to action on April 19, where they face rivals Ospreys as part of Welsh rugby’s Judgement Day at the Principality Stadium.
They then take on Munster, the Bulls and Stormers in the URC in the hope of clinching a play-off place, which is awarded to teams who finish in the top eight.
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