Neath Rugby Club pays ultimate penalty
Welsh rugby side Neath, now known as Gowerpark Ltd, has gone into liquidation following a severe reduction in funding and high players' contracts.
John Wynn Davies and David Hill, partners at the Cardiff office of Begbies Traynor, have been appointed joint liquidators to Gowerpark, which owes in excess of £750,000, including £157,000 due to the Welsh Rugby Union, £223,000 due to the Inland Revenue and £134,000 due to Customs and Excise.
Directors at the club blamed its insolvency on a combination of a severe reduction in funding from the Welsh Rugby Union following the game’s restructuring earlier this year, and high players’ contracts.
The Club employed 40 permanent staff including 37 players along with over 47 temporary staff on match days.