By Dai
September 24 2003

Reports today indicate that despite the WRU blocking a deal for Leighton Samuel to take full control of the Warriors there may be other ways that he could get full control but it would only happen if Pontypridd went into administration. For more on this story read on.

    It has emerged that the financial troubles at Pontypridd could lead to Leighton Samuel taking full control of the Celtic Warriors. Initially Samuel had offered to pay off the £670,000 debts of Pontypridd RFC but certain reports say that the WRU blocked the move as they wanted the partnership to remain equal whilst other reports suggest that talks between Pontypridd RFC and Leighton Samuel broke down at the 11th hour.

    Without the financial help from Samuel, Pontypridd RFC can see no way of paying off the huge debts and so were planning to go into voluntary administration. This was set to take place on Tuesday, however, the decision to go into administration was postponed without any explanation. We are aware that a meeting took place between the Celtic Warriors directors and reports in the Western Mail suggest that if Pontypridd go into financial administration or receivership, its 50 per cent share in the new provincial entity is automatically offered to joint partners Bridgend which would mean that Samuel takes sole control of the region.

    The Western Mail also says that under the terms of an administration order, the appointed administrator seeks the best deal for the creditors. That means anybody not disqualified from becoming a company director could put in a bid which would mean that Samuel is able to put in a bid for Pontypridd RFC.

    Over the last few weeks there have been unconfirmed reports that Buy As You View, who sponsor the regional team in an £800,000 deal over 2 years are looking to pull out of the deal. Buy As You View who are long term sponsors of Pontypridd could pull out of sponsoring the regional team and use the money set aside for the sponsorship to buy Pontypridd RFC, something which was rumoured to have been tried a couple of years ago and as a result they would take over the 50% share of Pontypridd RFC in the regional team. Of course, all of this is pure speculation but is it just a coincidence that at the same time Pontypridd announce that they are in serious financial trouble, Buy As You View are also rumoured to be trying to pull out of sponsoring the region and the sum of money involved in both cases is roughly the same?

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