Pontypridd frc

[shaunspikey]

Heard a rumour tonight from lads who play for local rugby sides that they have filed for bankruptcy. Was due to be announced in Jan, but was held of to keep the contracted players there

[Nick]

They've not yet registered any bankruptcy notice according to Companies House but the whole of their Sardis Road ground was mortgaged to the WRU in 2016, so it's possible that the WRU are calling in the debt and about to take control of Sardis as they have defaulted on repaying their loan. Strikes me though as Valleys' Rumour.

Their Charge Notice states:

"The Borrower (Ponty Rugby) will pay to the Chargee (WRU) the Secured liabilities (Sardis Road) immediately on demand as and when the same are due for repayment together with interest at a rate of 2% above the base rate from time to time of Barclays Bank plc on the amount demanded until payment in full."

[Malpas69]

Yeah, it is plastered all over their forum. Mixed messages as you would expect but apparently (or should I say allegedly), all of their players were told after a training session that they could not be paid as the Club had no money. As was mentioned previously, they were told after the 'transfer deadline', which means that they cannot now transfer to another Club (or that is what I am led to believe). There is going to be a stakeholders meeting next week and all shareholders will be sent a letter informing them of such.

[Beaufort Boy]

I have heard from someone that the Chief has chosen a select number of players, these players are to be paid, with the rest taking a 30% drop in payment... ....

[123]

The chief has chosen who will be paid??...are they leaving for Merthyr then?

[Beaufort Boy]

ooppsss sorry, I was distracted and put down a bit about Stans brigade Apologies...