SBD Global/August 29, 2014/Finance

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  • Premiership Rugby Clubs Seeking $20M In Compensation For World Cup Suspension

    England's top rugby clubs "insist they are justified" in asking for £12M ($20M) in compensation for "suspending the Aviva Premiership during the World Cup," according to Chris Jones of the London EVENING STANDARD. The Rugby Football Union is offering £6M ($10M) and although the 12 Premiership clubs "insist this is well short of an acceptable figure they insist they will not disrupt the build up to the tournament being staged in England from next September." Under the World Cup agreement, "no other competition can take place in England at the same time." Premiership Rugby Chair Quentin Smith said, "This is about compensation, not reward, with not a pound profit in any claim. We have not plucked the figures from the air; there has been a lot of forensic analysis with the clubs and their particular circumstances" (EVENING STANDARD, 8/28). In London, Paul Rees reported talks have been going "on all year between the Rugby Football Union and Premiership Rugby." Premiership Rugby side Leicester CEO Simon Cohen said this week that "unless the clubs were offered adequate compensation, they should play on during the World Cup and not be bound by the agreement between the RFU and Rugby World Cup Ltd." Cohen: "It is not acceptable to simply expect us to close down our businesses" (GUARDIAN, 8/27).

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  • Elche President Proposes 12% Reductions To Player Salaries To Meet LFP Regulations

    La Liga side Elche is "exhausting every option within its reach to try to solve its problems" meeting the Spanish Football League's economic regulations, according to M.H. Marcos of AS. On Thursday, Elche President José Sepulcre and Secretary General Antonio Rocamora met with the team's three captains -- Edu Albacar, Ferran Corominas and Sergio Pelegrín -- to propose "a 12% reduction in player salaries to make room in the budget to sign Enzo Roco, Víctor Rodríguez, Cristian Herrera and Michael Anaba." A solution "will have to arrive by Friday" if coach Fran Escribá "wants to count on a full roster for Sunday's game against Granada" (AS, 8/28).

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