Moffett claims WRU have 'kept the game poor'

First published in Wales rugby
Last updated

DAVID Moffett has accused the Welsh Rugby Union of “keeping the game poor” by paying off £16.6million of debts quicker than they needed to, writes Chris Kirwan.

The former chief executive, who has helped force an extraordinary general meeting in Port Talbot on Sunday, employed a team of financial experts to pore over the WRU’s accounts.

He claims the Union have accelerated debt repayments rather than increasing funding to struggling clubs.

“If the WRU had followed the financing plan that existed when I left back in 2005, they would have had approximately £16.6m more cash at their disposal,” he said in a statement.

“It is highly irregular and a matter of huge concern that a company turning over £60 million does not have ANY cash reserves.

“Where has all the cash gone? Well you don’t have to be a genius to work out that it has all gone to pay off the debt early.”

Moffett goes on to state that, after building up the reserve, £11million could have been invested into Welsh rugby, £34,375 per club.

“They've used over £16 million of the clubs money to pay off the bankers in the face of one of the the worst economic crises to hit Wales,” he said.

“At the same time, our clubs, the lifeblood of Welsh rugby, are going bust or can't afford to buy rugby kit for the kids, repair their clubhouses or pay their electricity bills.”

The WRU declined to comment but expect more ‘propaganda’ from Moffett in the build-up to the EGM and intend to stick to their tactic of speaking directly to the clubs.

Comments (7)

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8:39pm Sun 8 Jun 14

silurix says...

On the face of it, paying off debt seems a sensible thing to do. He doesn't say why the WRU might be doing this. There must be a reason for it if , according to DM , they are behaving contrary to conventional financial wisdom. Are they just stupid or do they have a cunning plan?
On the face of it, paying off debt seems a sensible thing to do. He doesn't say why the WRU might be doing this. There must be a reason for it if , according to DM , they are behaving contrary to conventional financial wisdom. Are they just stupid or do they have a cunning plan? silurix
  • Score: 2

10:26pm Sun 8 Jun 14

Casnewydd lad says...

Every club knows the wru are all about money, when I played for years and my son we had to pay and keep up the payments for our licences and other things but as soon as the club went asking for money it was a different story, they weren't so quick in making payments if any at all. Even now the welsh game tickets are sold to the clubs and evry penny goes back to the wru I understand they have wages etc to maintain but even if the clubs got a small fee of a couple of pounds for selling them it would be something. Wru=greed
Every club knows the wru are all about money, when I played for years and my son we had to pay and keep up the payments for our licences and other things but as soon as the club went asking for money it was a different story, they weren't so quick in making payments if any at all. Even now the welsh game tickets are sold to the clubs and evry penny goes back to the wru I understand they have wages etc to maintain but even if the clubs got a small fee of a couple of pounds for selling them it would be something. Wru=greed Casnewydd lad
  • Score: 11

11:18pm Sun 8 Jun 14

Ollie254 says...

Moffett is the architect of regional rugby. It hasn't been a stunning success has it........listen to him at your peril.
Moffett is the architect of regional rugby. It hasn't been a stunning success has it........listen to him at your peril. Ollie254
  • Score: -5

8:34am Mon 9 Jun 14

blackandamber says...

Professional rugby is doomed to fail while the WRU have anything to do with it.
Professional rugby is doomed to fail while the WRU have anything to do with it. blackandamber
  • Score: 6

9:44am Mon 9 Jun 14

Caerleonboy says...

The WRU have kept very quiet in all this. If they want more support they need to publicly announce what they plan to do with the game in Wales both at club and regional level. At the moment it seems to be that Moffett, clubs and the regions are asking the union to make changes but the WRU have no response. Yes they offered central contracts to a few players but that is not the way forward unless 30-40 players are centrally contracted, like in Ireland, and I'm not entirely sure if even that would be the right thing to do here in Wales. The WRU have had their chance all season to sort out an agreement with the regions and have failed. I think it's time to at least listen to another man's plan.
The WRU have kept very quiet in all this. If they want more support they need to publicly announce what they plan to do with the game in Wales both at club and regional level. At the moment it seems to be that Moffett, clubs and the regions are asking the union to make changes but the WRU have no response. Yes they offered central contracts to a few players but that is not the way forward unless 30-40 players are centrally contracted, like in Ireland, and I'm not entirely sure if even that would be the right thing to do here in Wales. The WRU have had their chance all season to sort out an agreement with the regions and have failed. I think it's time to at least listen to another man's plan. Caerleonboy
  • Score: 5

12:32pm Mon 9 Jun 14

Euwan Usami says...

silurix wrote:
On the face of it, paying off debt seems a sensible thing to do. He doesn't say why the WRU might be doing this. There must be a reason for it if , according to DM , they are behaving contrary to conventional financial wisdom. Are they just stupid or do they have a cunning plan?
Bet your life the reason will have something to do with a target /bonus. Their silence through this doesn't put the WRU in the best of Iight. I am still very concerned with the ridiculous wages they have been paying themselves too. Would like to see them cleared out tbh. Remember they are meant to serve the clubs not make a fortune off the back of them.
[quote][p][bold]silurix[/bold] wrote: On the face of it, paying off debt seems a sensible thing to do. He doesn't say why the WRU might be doing this. There must be a reason for it if , according to DM , they are behaving contrary to conventional financial wisdom. Are they just stupid or do they have a cunning plan?[/p][/quote]Bet your life the reason will have something to do with a target /bonus. Their silence through this doesn't put the WRU in the best of Iight. I am still very concerned with the ridiculous wages they have been paying themselves too. Would like to see them cleared out tbh. Remember they are meant to serve the clubs not make a fortune off the back of them. Euwan Usami
  • Score: 4

10:27pm Sun 15 Jun 14

beachy1 says...

Moffett ruined Welsh rugby by demanding the introduction of the regions. How any of the rugby loving people in Wales can forget this is criminal. Moffett, its time to go home!!
Moffett ruined Welsh rugby by demanding the introduction of the regions. How any of the rugby loving people in Wales can forget this is criminal. Moffett, its time to go home!! beachy1
  • Score: 0

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