To support clubs the RFU have announced that they will be providing a £7m relief package for community clubs. The package includes monies ring fenced and diverted for the community game as well as additional funding. These measures include:
• An early release of £800,000 cash due to clubs through the ticketing fund.
• Early release of final funding payments (£600,000) to Constituent Bodies and suspension of the activity plans against which this was allocated, enabling them to utilise this to provide “immediate support grants” to clubs most in need. In addition £400,000 will be made available to Constituent Bodies who elect to match fund from their own reserves.
• A suspension of the Quarterly loan repayments for clubs with outstanding loans due in April (£335,000).
• The creation of a £5m support loans programme, offering loans of between circa £2k and circa £10k to clubs, with deferred re-payments for six months and repayable over three years.
They will be providing more details on this financial package in the coming week. They will also be issuing regular club recovery updates with practical advice on how government grants can be accessed as well as other business management advice.
To find out more click here; https://www.englandrugby.com/news/article/an-update-on-covid-19-support-and-planning—bill-sweeney-ceo-rfu