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Page last updated at 18:00 GMT, Monday, 20 July 2009 19:00 UK
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London Welsh avoid financial ruin

London Welsh

The Rugby Football Union (RFU) says it is happy with the new takeover at London Welsh, but the club will start the season with a five-point deduction.

The governing body insisted that Red Dragon Rugby Limited pays about £450,000 to creditors.

The company is expected to come out of administration by the end of the week.

The RFU was satisfied the new owners could support the club financially for at least two years and also maintain its amateur and community roots.

London Welsh, who play in English rugby's second tier The Championship, are once again solvent having written off debts of about £1.3m, but will start the season with the points deduction.

Chairman Kelvin Byron hopes they now have a bright future.

"I am delighted that the club will be able to stay in the Championship," he said.

"I am sure that the new funding will inject a new energy into the club helping it realise its aim of playing in the Premiership within three years."



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see also
London Welsh enter administration
23 Jun 09 |  Rugby Union
Two parties keen on London Welsh
05 Jul 09 |  Rugby Union
London Welsh Centre under threat
19 Feb 09 |  Wales

related internet links:
London Welsh RFC
Rugby Football Union
Welsh Rugby Union
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