In a sad turn of events, the reigning champions of last year’s Championship, Jersey Reds, are on the verge of entering administration.
The club is expected to officially confirm this unfortunate development later today, with players and staff already briefed on the situation.
Jersey’s remarkable ascent through the rugby leagues, culminating in their Championship victory, has been one of the recent success stories in English rugby.
According to reports from RugbyPass, a substantial budget overspend of approximately £500,000 last season, coupled with the withdrawal of a key investor, has left the club grappling with financial difficulties for some time.
The Jersey government had provided substantial support exceeding £1 million over several years, but their patience has worn thin.
It’s worth noting that Jersey Reds, the professional arm of the club, transitioned into a standalone company just last year, a move aimed at securing the future of the amateur setup.
Two more clubs in trouble:
#4. EXETER CHIEFS – SHAKY FOUNDATIONS
PA wrote: “Even Exeter, one of the few clubs in the pre-pandemic era to operate at a profit, were forced to take special measures in December.
“Chiefs owner Tony Rowe bought a stake in a hotel owned by the club in order for it to service its debts, including covid loans issued by the Government. Rowe’s intervention has shored up the finances for the time being.”
