Questions remain unanswered
Members of Friends of Newport Rugby and their committee joined with shareholders and supporters for the session with the CEO of Newport RFC, Stuart Davies and directors Will Godfrey and Jim McCreedy.
Unfortunately answers to most of the important questions were not forthcoming. Stuart Davies was asked by four succesive speakers what was the business plan for Newport RFC to survive without a ground or clubhouse? How would they raise the funds necessary to compete in the Welsh Premiership? Eventually he was forced to concede what had become obvious and admit that there was no plan formulated at this stage but that work would be done before the shareholders meeting.
In the view of the Trust, this goes against the oft quoted mantra that the survival of Newport RFC was a prime objective in the negotiations. It is difficult to understand how the board could sign Heads of Terms without a clear vision for the future of the club.
The other key question is to what extent the directors will write off their secured loans. Again there was no answer to this, although it would appear that the question has been raised at board meetings with no resolution. Will Godfrey did advise the meeting that he would not be looking for repayment of any loans. The loans from other directors are far higher and Newport shareholders need to know where they stand in the light of past promises.
If the shareholders are to make an informed choice then the board must provide answers to important questions and do so well in advance of the shareholders meeting so that they can be discussed properly.