WRU quickly moves to ‘pull a rescue package together’ to save Cardiff

The Welsh Rugby Union has taken control of Cardiff after the club’s legal entity Cardiff Rugby Limited was placed temporarily into administration by its directors.

The WRU said the decision was made “once it became clear that the club’s owner, Helford Capital, was unable to meet its obligations to fund the club as it was contractually obliged to do”.

Appointed administrators PwC have sold the club’s business and assets to the WRU.

‘Unthinkable’

WRU chief executive Abi Tierney said it was “unthinkable for us to allow the demise of professional rugby in the Welsh capital”.

The governing body confirmed that Cardiff players and staff will be unaffected by the sale and fixtures will be fulfilled, with season and match tickets remaining valid.

Cardiff play in the United Rugby Championship and are next due to be in action on April 19 as part of Welsh rugby’s Judgement Day at the Principality Stadium.

They also face URC appointments with Munster at home, then the Bulls and Stormers in South Africa. The league’s top-eight finishers secure a play-off place, with Cardiff currently ninth.

The Union added that pre-payments for 2025/26 season tickets will also be honoured, as will existing sponsorship arrangements that have been paid for in advance.

Tierney confirmed the WRU will take over Cardiff, “recognising its critical importance to the future of Welsh rugby”.

Critical

She added: “We have been keeping in close contact with the Cardiff Rugby board for several months once they became aware of the risks to anticipated shareholder funding not being available.

“As a result, the WRU has been able to move quickly to provide support for Cardiff. Players, staff and supporters can be assured that professional rugby will continue at Cardiff Arms Park.

“Cardiff has always been a major contributor to our player pathway, and is critical to the success of our One Wales strategy both on and off the field.

“In the coming months we will be actively seeking investors who wish to play their part in ensuring this is achieved and Cardiff returns to the top table of club rugby.

“It is unthinkable for us to allow the demise of professional rugby in the Welsh capital, and there has been no hesitation for the WRU as we quickly moved to pull a rescue package together.”

The developments come just 16 months after Cardiff looked to have secured their long-term future when Helford Capital Limited’s acquisition of a majority shareholding was approved at a general meeting of club members, when a 99.99 per cent majority voted through the takeover.

Helford Capital, an investment group led by businessmen Phil Kempe and Neal Griffith, acquired an 84.55 per cent shareholding.

Stability

Rob Lewis, joint administrator and partner at PwC, said: “We are delighted to have completed this transaction which provides the opportunity for a period of stability for professional rugby in Cardiff.

“The structure of the transaction means that the club will be able to continue to trade seamlessly under new ownership and fulfil its playing obligations in both the United Rugby Championship and Super Rygbi Cymru competitions this season and beyond, with minimum disruption to players and fans.”

In a statement issued by the WRU, meanwhile, Cardiff chair Alun Jones said: “We are incredibly grateful to the Welsh Rugby Union for securing our financial stability and ensuring professional rugby continues in Cardiff as we approach our 150th season.”