What Was The Warriors Debt?

By Zippy
July 5 2004

Taken from this weeks Glamorgan Gazzette, the figures from the liquidation meeting and the many many casualties of the Warriors closure continue.

Players still not signed up to professional rugby include Richard Parks, Mefin Davies and Cory Harris.

 

Lyn Howells has been forced to move to Italian side Leonessa, whilst quality coaches such as Alan Lewis and Richard Webster are unemployed whilst Newport employ an Australian Rugby League coach.

 

The players/coaches are not the only casualty of the Warriors demise, a total of 36 trade and expense creditors have been listed, who are owed a total of 99,126.

 

Employees are owed an estimated 100,000 the Inland Revenue 175,739 and Customs and Excise 78,943.

The total owed by the region when it was aquired by the Welsh Rugby Union on May 19th was 453,808.71.

 

When various assets and the possible fee of 100,000 for Gareth Thomas are taken into account, the Warriors were wound up over a debt of just 372,994.

 

How shocking is that, any reputable company of any size will have a debt of ten times that, when you consider the catchment area of the Warriors, there was the potential to pay the debt that was unrealised.

 

Meanwhile all the playing staff have not been paid for May, does the WRU have a moral responsibility to pay the players and staff?

 

Moral is a word that the WRU do not understand.

 

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