By Dai
October 3 2003
Reports today have indicated that Pontypridd will lose their 50% share in the Celtic Warriors and that Leighton Samuel will purchase it and offer it as a gift to the WRU. For further news plus details of a WRU press release read on.
Pontypridd Lose Share in the Warriors
It is believed that Leighton Samuel has purchased Pontypridd's share in the Celtic Warriors as a result of their financial troubles in recent weeks. Samuel is understood to have been the top bidder for the 50% stake in the region and he will now offer the 50% stake to the WRU in a deal which will see the Warriors run by a board of Directors from Bridgend and the Welsh Rugby Union.
However, we are unsure as to whether or not the Welsh Rugby Union would be prepared to enter into a partnership as they are still having financial problems of their own and so will they be able to contribute to the Warriors or will Samuel have to fund them himself. If it is the case that he will be funding the team alone then surely he is going to find himself in the same situation as he did with Pontypridd where they were unable to contribute to the Warriors.
So far, Pontypridd Chief Executive Gareth Thomas has refused to comment on the news that Samuel has bought the Warriors and a press release form the Welsh Rugby Union this afternoon says that they are awaiting final confirmation that there will be a buy out by Samuel and that the WRU will take over Pontypridd's share.
The Statement reads:
"The Welsh Rugby Union is awaiting final confirmation from the Celtic Warriors regarding the proposed buy out of Pontypridd's 50% stake in their regional structure by Leighton Samuel.
"It is envisaged that a meeting between Mr Samuel and the WRU will take place early next week to discuss the future management of the Warriors team, and the Warriors region, as a joint enterprise."
What is YOUR reaction to this news?
LET US KNOW ON THE MESSAGEBOARD
Bookmark or share this story with:
Digg
Delicious
Facebook
Reddit
Stumbleupon