By Les Reid, Coventry Telegraph
January 8 2010

COVENTRY rugby club has been saved for now after a deal was struck with an investor to bring it out of administration. An eleventh-hour deal was agreed yesterday with entrepreneur and benefactor Jon Bowles, after weeks of talks. A new company, called Coventry Rugby Ltd, has been formed to enable the club to officially trade again as a going concern, after former owner Andrew Green’s company

Coventry RFC Ltd went into administration a month ago with debts of over £500,000.

Acting as a benefactor so far, Mr Bowles, whose name was revealed in Wednesday’s Telegraph, is understood to be interested in developing the club’s work in the community.

He has made millions in property development, has many business interests, and his Bournemouth-based charity, Perpetual Legacy, invests in other charities.

Mr Rossborough said: “Everything’s signed and sealed. The club came out of administration mid-afternoon and has begun trading again. But there is a long way to go.

Coventry Rugby Club saved - for now

Discussion started by Unofficial Coventry Rugby (IP Logged), 08/01/2010 13:29

Unofficial Coventry Rugby
08/01/2010 13:29

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covkid53
08/01/2010 16:08

That's why we all need to get behind this new venture.

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covkid53
08/01/2010 16:37

Don't like the phrase "for now", lets face it, if we don't all get behind the club it will go west and we will deserve to have lost it.

The "for now" comment needs to be expanded upon with the why's and wherefore's of this new beginning.

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David3933
08/01/2010 19:42

I found this comment in the BBC report intriguing in that it gives a rationale for Mr Bowles' investment:

an interest in the community side of Coventry was a key factor in the club attracting the investment.

Coventry president Peter Rossborough told BBC Coventry & Warwickshire: "He's an investor who's come on board with an interest in the community side of the club's programme, not just the rugby side.

"It's about the good we can do in the community and have done in the community with visits to schools and dealing with disaffected young people and so on."

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toby mcknight
08/01/2010 20:11

Commendable, no problem with that all, full support. But I think supporters want us to have a team that compete in the Championship as well.

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