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The Jersey Reds have confirmed that they have "no option" but to move into liquidation after an emergency rescue bid was rejected by politicians and a "White Knight" failed to emerge.
In a statement, the Reds said that they were "bitterly disappointed at the decision in the States Assembly regarding Government funding, but hardly surprised".
They continued: "We are proud of what the Reds achieved over the years in consistently difficult circumstances."
Pictured: Reds supporters rallying outside the States Chamber as the debate happened inside.
"The opportunity to support a valuable asset has been let slip and the island will be the lesser for it," the statement added.
"Our thanks to Deputy Farnham for his efforts."
The Jersey Reds relief fund will conclude on Fri 6th Oct so Harvey Biljon & Nicola Dando can evaluate funds & disburse among the staff. We would like to express our gratitude to everyone who has generously contributed to this fund. Your donations have been sincerely appreciated. pic.twitter.com/jot4RNJk4i
— Jersey Reds (@JerseyRedsRugby) October 4, 2023
Following six hours of debate in the Assembly, Members voted by 29 to 13 against Deputy Lyndon Farnham’s proposition that public money be used to allow the cash-strapped rugby team to complete the current season.
The vote came a week after the Government told Reds' board members that no further funding would be added on top of £370,000 of funding provided in two parts in June and August of this year, leading to a decision for the club to cease trading at 17:30 last Wednesday.
Pictured: Ministers said that the Jersey Reds's "track record of weak financial management" provides "no confidence in the directors ability to conduct the affairs of the company prudently".
Introducing his proposition on Tuesday, Deputy Farnham estimated that each pound spent by the Government to support the Reds brought around £25 in economic benefit to the island.
But Ministers lined up on Wednesday to say that they felt unable to support further funding – including Treasury Minister Ian Gorst, who said: “It does not give anyone any pleasure, but I don’t think there are any other options than, with a heavy heart and being grateful to the Reds for what they have done, than to say we can’t accept this proposal.”
Jersey Reds released a statement hitting back at what they described as a "significant amount of disinformation being circulated" and denied that they had rejected offers to meet Deputy Lucy Stephenson, who holds political responsibility for sport.
Announcing the move into liquidation, the Reds explained that "details of the liquidator will be gazetted in the near future".
"Thank you for all your support over the years", they added.
A relief fund was set up at the end of last week to allow islanders to help the team, while Hawk Group were also praised on Monday for stepping in to support the Reds with September salaries. That fund is due to close today.
Name: HB10 Limited (Staff welfare)
Sort Code: 16-51-71
Account Number: 20086850
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