French rugby club relegated after going bankrupt 28/04/2010 |
|
| |
| |
French rugby team Montauban has been relegated from the Top 14 after filing for bankruptcy.
The club had technically secured its survival in France's top flight with a 22-8 win over Bayonne last weekend, but knew relegation was still a possibility after it was called before financial watchdog DNACG at the beginning of April.
Montauban was summoned along with Stade Francais and Bourgoin, who did not face further action, and was unable to provide evidence that it could clear its reported 1.7m Euro financial shortfall within the confines of its season budget.
"We filed for bankruptcy at the commercial court on Monday [April 26] afternoon after a meeting of the club's board of directors," spokeswoman Penelope Palazy told Reuters. "This means the club will be demoted from the Top 14."
The club’s financial problems reportedly stem from a loan taken out to improve its Stade de Sapiac home.
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
