Rescue plan to save EP Rugby?

2016-03-30 14:21
EP Kings (File)

Cape Town - A rescue package to assist the cash-strapped Eastern Province Rugby Union will reportedly be addressed at a SA Rugby special general meeting on Friday.

According to the HeraldLIVE website, EP Rugby president Cheeky Watson is expected to attend when the rescue plan is tabled before delegates at a special general meeting, which will follow SA Rugby’s annual meeting in Cape Town.

The rescue plan has been drawn up by SARU vice-president Mark Alexander and is expected to be supported by the majority of delegates, according to the website’s sources.

EP Rugby (Pty) Ltd was placed under provisional liquidation at the beginning of March and the provisional court order has afforded the union until May 10 to address the financial woes that led to a joint liquidation application being brought on behalf of 36 players. Claims for unpaid wages and damages are said to total more than R18m.

If EP Rugby is unable to resolve its financial problems before the deadline, the provisional liquidation stands to be made final.

SA Rugby has already taken charge of the EP Rugby Union's Super Rugby team, the Southern Kings, who re-entered the competition this year.

Read more on:    super rugby  |  cheeky watson  |  port elizabeth  |  rugby

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