Coventry Rugby Club saved - for now
By Les Reid, Coventry Telegraph
January 8 2010
COVENTRY rugby club has been saved for now after a deal was struck with an investor to bring it out of administration. An eleventh-hour deal was agreed yesterday with entrepreneur and benefactor Jon Bowles, after weeks of talks. A new company, called Coventry Rugby Ltd, has been formed to enable the club to officially trade again as a going concern, after former owner Andrew Green’s company
Coventry RFC Ltd went into administration a month ago with debts of over £500,000.
Acting as a benefactor so far, Mr Bowles, whose name was revealed in Wednesday’s Telegraph, is understood to be interested in developing the club’s work in the community.
He has made millions in property development, has many business interests, and his Bournemouth-based charity, Perpetual Legacy, invests in other charities.
Mr Rossborough said: “Everything’s signed and sealed. The club came out of administration mid-afternoon and has begun trading again. But there is a long way to go.
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The "for now" comment needs to be expanded upon with the why's and wherefore's of this new beginning.
an interest in the community side of Coventry was a key factor in the club attracting the investment.
Coventry president Peter Rossborough told BBC Coventry & Warwickshire: "He's an investor who's come on board with an interest in the community side of the club's programme, not just the rugby side.
"It's about the good we can do in the community and have done in the community with visits to schools and dealing with disaffected young people and so on."