Cardiff Rugby: WRU to appoint administrators after club serves formal notification they intend to enter administration
Cardiff Rugby filed a Notice of Intention in court on Tuesday; Sky Sports News understands Welsh Rugby Union is set to appoint PwC as administrators; Cardiff's financial situation comes against the backdrop of a 17-game losing run and the Six Nations wooden spoon for Wales national team
Tuesday 8 April 2025 18:06, UK
Cardiff Rugby are on the verge of administration and are expected to appoint PwC as administrators on Tuesday.
An emergency meeting was held at Arms Park on Tuesday, with the Welsh Rugby Union set to take control of the club.
Sky Sports News understands that PwC will be appointed as administrators and their Welsh office has reached a deal with the WRU to sell the assets of the club.
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"Cardiff Rugby can confirm notice of intention to appoint administrators has been filed," a club statement read.
"Please rest assured that everything possible is being done to protect our employees and the future of the club. We have a plan in place and we will update you as soon as possible."
Cardiff assets will be sold to a Special Purpose Vehicle (SPV), which is a bespoke company used in such situations to maintain the short-term stability of a company.
It is understood the sale of the club's assets could commence as soon as Wednesday and the SPV will run the club in the short term.
This would allow those involved in the club to find long-term financial stability for Cardiff Rugby.
The regional Welsh club were taken over by Helford Capital in January 2024 and it is understood they have not met the ownership obligations set by the WRU.
In Wales, regional clubs are in part funded by the union with investors making up the shortfall. In this case, Cardiff's owners have failed to provide the remaining cash, which is understood to be in the region of £2m.
A source close to Welsh Rugby told Sky Sports News that this is not a systemic issue, but an example of poor ownership at Cardiff Rugby since 2024.
Cardiff Rugby have been approached for comment by Sky Sports News.
A WRU spokesperson said: "We are aware Cardiff Rugby have confirmed notice of intention to appoint administrators, and we are working closely with the Cardiff board and the administrators to safeguard the future of professional rugby in Cardiff."
