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Rugby Side London Welsh Seeking Voluntary Liquidation Due To 'Unsustainable' Model

Rugby Championship side London Welsh, one of the oldest clubs in English rugby, said on Wednesday that it was seeking voluntary liquidation due to large debts and a "totally unsustainable" business model, according to Alan Baldwin of REUTERS. The move would allow the second-tier club, founded in 1885 and currently based in Richmond-upon-Thames in south-west London, "to re-form as a semi-professional side." Club Chair Gareth Hawkins said, "London Welsh has reached a difficult point in its illustrious history. Due to a playing budget of £1.7 million ($2.1M) and gates at games numbering as low as 400, the club's current business model is totally unsustainable." He added that the board "hoped the club could return to playing at its Old Deer Park home in the New Year once it had switched to a semi-professional model" and a new company had been formed. It would also need to raise £300,000 ($378,350) to "regain a position" within the Championship. In the Premiership as recently as '15, with a base in Oxford, the club had "faced a series of winding-up orders over outstanding tax bills" (REUTERS, 12/7).

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