Coventry
Trustees in statement over Coventry rugby club bond.
By Coventry Telegraph
December 16 2009
“NOW that the Rugby Football Union have clarified their position relative to the bond lodged with them last autumn, the trustees are equally now in a position to explain in detail the full picture. To make one point abundantly clear, the RFU stated and made it quite clear before the bond was actually lodged with them that unless all rugby-related debts were cleared, they would not allow Coventry RFC to begin playing in what was then National Division One for season 2008-09. That was a straight fact.
The trustees then became aware that the remaining outstanding debt was to Mike Umaga, the former Coventry coach. The trustees were advised that a settlement of £20,000 was agreed with Mr Umaga. The RFU left no-one in doubt that unless this was paid immediately, they would withdraw Coventry’s right to play in National Division One. To ensure that Coventry played that weekend, a friend of the club who wishes to remain anonymous kindly agreed to settle the amount. It was not settled directly from the bond, but the trustees believed that this person had to be reimbursed and that action was taken.
It should be stressed that the other option which had been put forward was to take on the RFU legally rather than pay the £20,000. It was the majority view of the trustees, however, that to take that route would have been costly and where would the money have come from to fight it. Importantly, it could almost certainly have resulted in the RFU not allowing Coventry to play. It was not considered to be an option or a risk a majority of the trustees were prepared to take.
The total amount raised by the appeal at the point when the bond had to be lodged was £55,163.57. Several local businessmen who had between them contributed £6,000 subsequently requested through legal channels that they did not want their contributions to be lodged with the RFU. As a result the amount lodged with the RFU was £29,163. With subsequent bank interest added on, less tax, and a number of other donations made since lodging the bond, the amount as of now remaining in the building society account is £304.58. In closing the account, that figure will now be transferred to the account recently opened to cover the wages of players and staff.
The RFU have confirmed that the bond is being returned for the same purpose in weekly £6,000 tranches. Our sole aim from the beginning was to try and ensure that Coventry Rugby Club continued and, to that end, in late 2008 that aim was successful.”
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16/12/2009 12:16
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Edited 1 time(s). Last edit at 2009:12:19:09:05:18 by Laugh Out Loud.
NOW WHY THE BLODDY HELL DID YOU LIE TO THE PEOPLE THAT PUT INTO THE BOND...why didnt you tell us all, using it isnt the issue
Being open and up front with the people standing shaking buckets in Cov city centre about its use would have been the way to go..instead you didnt remain silent, you sent a letter to CET denying its use? WHAT!
The two remaining TRUSTEES are on the ADVISARY PANEL that knew all about Greens debts/failings 22 months ago!and instead of TELLING EVERYONE, so we could all be aware and help in fund raising....They let the Idiot a) SET up a new CRFC...then stood by? 18 mths ago ? when the ordinary joe public was actively trying to raise the bond cash and said nothing about the true picture we were all FACING, and let GREEN bimble on until we find ourselves...in the Dodo (They are extinct) ....COMPOUNDING the issue by DENYING in a statement 3 wks ago when we went POOF! "The Advisary Panel were unaware of the debts Mr Green was in" HOGWASH
RESIGN
Edited 2 time(s). Last edit at 2009:12:16:12:50:14 by magwitch.
COME ON COV
woods, it's in the hipflask! (Steve Emms)
' COME ON COV '
When claire got banned she got a proper letter, with joined up writing and everything!!
I presume that you have had nothing official in writing?
If youve not been told face to face or had anything in writing it doesnt stand.. thats in the RFU rulebook.. section 28, subsection D! :-)
until youve had a letter your not a proper "banee", so you cant join the gang.. sorry!
I will gladly walk in with you, let them try and stop us.
COME ON COV
I did put a little money into the fund. I would have put more in if at that time some positive announcements had been made by the powers that be. I have to say I was not overly surprised that no expressions of gratitude were made: that always seemed to be the management style.
I am, however, somewhat disappointed to find that the management style was taken over by the trustees of the fund.
Someone tell me I am reading this all wrong and in fact my money is still there waiting to be reclaimed or go to charity. (Mind, I am unsure if the RFU qualify as being a charity.)
I sincerely hope that all you real people of Coventry RFC can rescue the situation, even if that means starting all over again.
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