By Dai
September 26 2003

Pontypridd RFC have gone into administration owing to debts of £675,000 run up as a result of seven years of Professional Rugby at Sardis Road. For more information on the situation including news of the Warriors read on.

Pontypridd RFC have announced that they are to going into administration in order to continue as a semi professional club. Debts of £675,000 have prompted the decision and for the current time a new company, Ponty Rugby Ltd will run the club. The new company needs at least £50,000 in order to ensure Pontypridd RFC are able to continue until at least the end of the current season and in order to achieve this amount of money, shareholders of Pontypridd RFC have received details of how they can support the new company.

Shareholders have been informed that the directors of the new company are proposing to issue £1 shares at a value of £100 with a minimum purchase of one £100 share and shares can now be purchased in the new company. If the new company (Ponty Rugby Ltd) does not proceed in acquiring certain assets from Pontypridd RFC Ltd then all monies will be returned to shareholders less and costs incurred during the acquisition process.

The situation regarding the Celtic Warriors is unknown although it is understood that Leighton Samuel wishes to buy Pontypridds share in the Warriors and then present it to the WRU as a gift where the region will be run on a 50-50 basis between Samuel and WRU representatives. It is understood that Grant Thornton, the administrators, are to clarify the situation as to who has first option of buying Pontypridd's share in the Celtic Warriors.