THE IRFU HAVE announced that they will make €500,000 available to clubs in a bid to ease the financial issues brought on the coronavirus pandemic.
The union also confirmed that they will put in place a moratorium on all club loan repayments for four months, starting from 1 April.
In a statement, the IRFU said Domestic Game Director Colin McEntee will advise clubs how the funding is to be applied “as soon as is practicable.”
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The move will be welcomed by clubs who have been faced with significant financial losses following last week’s announcement that the domestic season was to be cancelled as a result of the Covid-19 outbreak.
“The Irish Rugby Football Union will make €500,000 available to clubs in light of the Covid-19 crisis,” the statement read.
The Irish Rugby Football Union will make €500,000 available to clubs in light of the Covid-19 crisis.https://t.co/kbr1WcE99h
“Following a review of its financial position, the Union has agreed to the funding and Domestic Game Director, Colin McEntee, will be advising clubs how the fund is to be applied as soon as is practicable.
“The IRFU has confirmed the funding directly to clubs today in a communication that provided them with additional guidance and advice in relation to the on-going operation of their clubs during this unprecedented crisis.”
The statement also clarified the situation surrounding the large number of clubs who have loans with the IRFU.
“Loans in excess of €4 million have been made available to clubs by the IRFU under its current Financial Assistance Scheme. A moratorium on all club loan repayments will be put in place for a period of four months, effective from April 1st, 2020,” the statement continued.
“This will benefit the 56 clubs with payments outstanding to a value of over €150,000 during this period.”
The IRFU also encouraged all of its clubs to draw on any government assistance available to them.
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IRFU make €500,000 available to clubs in light of coronavirus disruption
THE IRFU HAVE announced that they will make €500,000 available to clubs in a bid to ease the financial issues brought on the coronavirus pandemic.
The union also confirmed that they will put in place a moratorium on all club loan repayments for four months, starting from 1 April.
In a statement, the IRFU said Domestic Game Director Colin McEntee will advise clubs how the funding is to be applied “as soon as is practicable.”
The move will be welcomed by clubs who have been faced with significant financial losses following last week’s announcement that the domestic season was to be cancelled as a result of the Covid-19 outbreak.
“The Irish Rugby Football Union will make €500,000 available to clubs in light of the Covid-19 crisis,” the statement read.
“Following a review of its financial position, the Union has agreed to the funding and Domestic Game Director, Colin McEntee, will be advising clubs how the fund is to be applied as soon as is practicable.
“The IRFU has confirmed the funding directly to clubs today in a communication that provided them with additional guidance and advice in relation to the on-going operation of their clubs during this unprecedented crisis.”
The statement also clarified the situation surrounding the large number of clubs who have loans with the IRFU.
“Loans in excess of €4 million have been made available to clubs by the IRFU under its current Financial Assistance Scheme. A moratorium on all club loan repayments will be put in place for a period of four months, effective from April 1st, 2020,” the statement continued.
“This will benefit the 56 clubs with payments outstanding to a value of over €150,000 during this period.”
The IRFU also encouraged all of its clubs to draw on any government assistance available to them.
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AIL Covid-19 IRFU Irish Rugby Support