Exciting news for Welsh rugby fans! The Welsh Rugby Union (WRU) has just announced a major £60 million funding deal with global financial giants HSBC and Goldman Sachs. This new agreement offers the WRU much better financial terms and is set to strengthen the future of rugby across Wales.
Replacing past debts with this new deal means more financial freedom. Out with the old and in with a fresh plan designed to support ambitious projects for the beloved Principality Stadium, alongside boosting rugby at all levels in Wales.
WRU’s chief executive, Abi Tierney, expressed gratitude for past support from the Welsh Government and hailed this new deal as a step towards financial stability. The WRU is committed to investing more into the sport—£28 million more over the next five years—to nurture young Welsh talent and ensure competitive professional rugby sides.
Significantly, this new setup combines a £30 million interest-only loan with a £25 million rolling credit facility, offering flexibility for future projects. Chairman Richard Collier-Keywood emphasised that this streamlined approach simplifies previous debts, making way for exciting stadium redevelopments and vital structural improvements.
Additionally, there are whispers about potential transformative moves in Welsh rugby’s regional landscape. The number of professional sides looks set to slim from four to three, with Cardiff Rugby possibly coming under the wing of Y11, owners of the Ospreys.
As these developments unfold, it’s clear Welsh rugby is gearing up for a future filled with promise and potential, backed by some of the biggest names in finance. With financial stability on the horizon, we can’t wait to see what the future holds for the sport in Wales! 🏉🏟️ #WelshRugby #WRU #RugbyFuture #CardiffRugby #HSBC #GoldmanSachs