Fri 7 Jun 2019 | 05:34

WP have remedy for 'cash crunch'

WP have remedy for 'cash crunch'
Fri 7 Jun 2019 | 05:34
WP have remedy for 'cash crunch'
SHARE

INTERVIEW: The Western Province Rugby Football Union is busy steering the ship through the stormy waters of yet another cash crunch.

Zelt Marais, President of the WPRFU, told @rugby365com in an interview that they are able to meet their immediate obligations, despite facing a financial predicament.

He was reacting to rumours that as a result of a ‘cash crunch’ they could struggle to pay salaries this month.

While he admitted they were faced with a tricky situation, he poured cold water on the suggestion that there is a major crisis.

“It is a challenge that every franchise has these days,” Marais told this website.

“It is not confined to us [WPRFU].

“There are challenges out there.

“As I explained in my chat to you [@rugby365com] earlier this year, SA Rugby is finding itself in a very difficult space.

“We [WPRFU] are putting measures in place and looking forward, planning ahead rather than [just] focusing on the current situation.”

He added they will deal with their “fiduciary duty and responsibilities”, before taking any long-term steps.

“We need to ensure there are sustainable resources in place.”

Marais said they can meet their immediate demands.

“WPRFU is the most ‘asset-rich’ union in world rugby, so we can alleviate the problem if push comes to shove,” he told @rugby365com.

He added that any decision to bond or sell off any properties are subject to such steps being signed off by the various sub-committees and structures within the WPRFU – as required by their constitution.

“[However], we will meet our immediate [cash] demands,” he added.

By Jan de Koning
@king365ed
@rugby365com

  • Previously by Zelt Marais …

PV: 3207


Wp Have Remedy For 'cash Crunch' | Rugby365