Sunday Telegraph reports Saudex concerns
By Dragons' Den
September 13 2009
The Sunday Telegraph has today revealed concerns regarding Saudex, sponsors of London Welsh. They report that London Scottish are still owed sponsorship money from last season, the Saudi Royal Family have denied all links with both Saudex and Neil Hollinshead and that Hollinshead has confirmed that the company has not made any investments in the UK other than their sponsorship of London Scottish.
At a time when supporters should be trying to forget the turmoil of the summer months and instead look forward to next Saturday's first home game of the season, the newspaper's report will no doubt bring back many anxieties regarding the club's future.
Neil Hollinshead is current London Welsh Chairman and CEO of Saudex Global Limited. The company's logo appears on the back of the 1st XV shirts. Although Hollinshead has always insisted that he was making a personal investment in London Welsh, newspaper reports, such as this one in the Western Mail, have implied otherwise and Kelvin Bryons's comments in the same article only added to the rumours regarding the real source of the investment.
The Sunday Telegraph article reveals that, according to Company House records, the Chairman of Saudex Global is Prince Khalid Alwaleed Bin Talal Al Saud but that two emails from the Saudi Royal Family deny all knowledge of Saudex or Hollinshead. Saudex's annual return and annual accounts are both overdue.
The report states that there are also three legal challenges underway. London Scottish are trying to recover £62,000 owed from the one year of the sponsorship deal, former Scottish International Kenny Logan is claiming £40,000 due for work carried out for Hollinshead and Steljes Limited, a sponsor of London Scottish, is also taking action.
With John Taylor and Kelvin Bryon continuing to give Neil Hollinshead and Saudex their full support we must hope that this report is unfounded and that the future of London Welsh is not under threat once again.
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All companies/individuals that claim to be owed monies have been dealt with by my lawyer and is not part of any involvement with London Welsh.
It seems that since trying to help London Welsh survive we have had negative press and also a number of fans question our integreity as well as hindering the success moving forward.
In any fans have questions on any points of these artiles i can be contacted at neil@london-welsh.co.uk. Hopefully we can start to concentrate at rugby soon and i look forward to seeing you at the first home game.
Neil Hollinshead
Mr H does not appear to have the same. So where is he getting his personal millions from?
I have only met him a couple of times in the context of meetings, and don't know him personally at all. But if I were publically questioned like this by supporters over a long period, I'd question whether I wanted to invest. which would take us back to the dark days of administration.
Suggest that we focus on supporting the teams, both amateur and professional?
Quote:Haydn
Personally, would you be willing to discuss your personal financial affairs on the internet? I wouldn't.
I have only met him a couple of times in the context of meetings, and don't know him personally at all. But if I were publically questioned like this by supporters over a long period, I'd question whether I wanted to invest. which would take us back to the dark days of administration.
Suggest that we focus on supporting the teams, both amateur and professional?
Haydn. I second your comments. PADDYTAF

From the Sunday Telegraph article we know that he is a Director of Saudex (which came into existence in Aug 2008 and sponsored Ldn Scots for the 2008/09 season), a Director of Red Dragon Rugby (formed in July 2009 and took over LW the same month) and Company Secretary of Arena Events Group (formed July 2009 and sponsors of Rosslyn Park for 2009/10).
If Neil wants to end this further area of doubt then he is very welcome to post again on these pages, this time filling in the gaps in the info on his business background.
Stick your head in the sand if you like, but be prepared for the consequences
Having just looked at my list, all of those benefactors have invested for the love of the game and or the area - what are this man's motives?
Anyone who is still carping about that process needs to get real and understand how lucky we are to still be in a position to be turning up at ODP on Saturday to see our first home game.
Personally I am delighted Neil was able to put his money into our Club - I hope his investment is a good one and that we all reap the rewards of a succesful LW in the future

Quote:1 - there hasn't been an explanation about his moneyNewest Sir Benfro
I am quite happy to accept Neils explanation of his personal situation on the grounds that the RFU undertook a due diligence process and found that he was an appropriate person to own our Club. The alternative was that LW ceased to exist.
Anyone who is still carping about that process needs to get real and understand how lucky we are to still be in a position to be turning up at ODP on Saturday to see our first home game.
Personally I am delighted Neil was able to put his money into our Club - I hope his investment is a good one and that we all reap the rewards of a succesful LW in the future
2 - there are contradictory press reports quoting Neil about whether the money was personal or business
3 - if the RFU hadn't taken this offer there was another on the table, don't kid yourself that this was the only option
4 - what on earth has happened to the other shareholder and the promise of new stands for the start of the season
5 - no one buys a rugby club to make money ergo this is not an investment
6 - have all the creditors been paid
the list goes on.
It is fine for you to blindly take a complete stranger with no track record as your saviour (it worked for the fishermen of Galilee) but I'd prefer some concrete info, unless I stop caring and accept that I am merely a customer to be milked/taken advantage of
The simple fact is that the long term fans of LW were not given a choice as to who 'bought' the club, so there is diddly squat that we're going to do about it!
So maybe you're right, let's all blindly follow like timid mice and forget that the Sunday Telegraph is a credible journal - it's only chip paper after all
All we can do is accept where we are and get behind our team. Looking forward to Saturday and the new virtual stadium.
2.Contradictory Press - they thrive off such innuendo, often creating stories out of rumours and trivial comments
3.The alternative offer - couldnt raise enough money!
4.Lets see what happens to the temporary arrangements at ODP - I understand some developments are already in place ?
5.I agree - but the truth is that the Quins owners bought the club for £2m, its worth a lot more now. So rugby investments can realise value for those with money to risk
6.If the creditors havent been paid then that will be an issue for the law to resolve any arguments. If I'd bought LW first thing I'd do is ensure that any claimed debts were genuine !
Strangely the list probably doesnt go any further than this ... I'm not a customer waiting to be milked. I'm a long term supporter delighted to be seeing our team at home n saturday.Time will as always judge who's view is correct
All NH's details are online anyway on Linked in. No great secrets at all.
Re pheasantplucker
"what are this man's motives?"
Quote:lonwelsh123
In terms of the ground. We were slowed down by the planners last week. Posts go up today, we are trying to change the seats out and do the groundswork for the stand and marquee once the planners allow us.
Well, the posts go up anyway, and i'm not sure what trying to do the seats means as you either do them or not and there is no planning for that BUT,
if you check here......
[www2.richmond.gov.uk]
"Search Planning applications online"
(And these are public documents not speculation)
And if you search for 187 Kew Road, (the ground), you can see that NO planning applications have been lodged with Rich since 1997.
Thats strange i thought.
However, there is a maximum 14 day processing time from filing papers to the appearing on the register.
So maybe they were only just done.
But we were told at the meetings there would be no problem with them, as it was a temporary structure and it was all going forward.
Which was weeks ago, certainly more than 14 days anyway.
So lets say they were filed yesterday, they should appear as a public document in 13 days then.
isnt it?
FYI, the planning process takes a minimum 8 wks to just process, (never mind deal with objections) and before we hear any different this is the same for temporary as it is for permanent structures. Espcially if they are 2 storey.
So, never mind saying that the planners have delayed work commencing, (and as someone who has been around/involved in planning on urban developments i know just a little bit about it),has the application been filed or not?
If not, why say that the planners have delayed it, if there is a minimum 8 wk paper shuffling period anyway!
So says the process outlined by Richmond Planning Department, who are at
08456 122 660 Option 4 !
Edited 2 time(s). Last edit at 2009:09:15:14:44:27 by UncleBryn.
Even IF all the other stuff in the Sunday Telegraph is a complete fabrication, what is very worrying is that, regardless of all the speculation, what seems incontrovertible, as Neil seems to have admitted in the quotes, is this charity business.
QUOTE FROM ARTICLE
Friends of Scottish Rugby (FSR), an organisation that funds the game's development north of the border, has also threatened to take Mr Hollinshead to court after he bid £4,000 at a gala auction held at Lord's Cricket Ground for a holiday for two in Antigua – but failed to pay up.
Stewart Lait, FSR's treasurer, said: "We take our auction buyers on trust, and it is desperately disappointing to be unable to meet funding requests because someone has not paid for their purchase after nearly a year."
Yesterday, Mr Lait finally received a bank draft for the sum – just days after inquiries by this newspaper..........................
(Neils Quote)
"I have no issue paying for an auction item and I was going to give the holiday as a present to my brother for his honeymoon but when they sent me the details I didn't want him staying in a little shack.
"I have now written to them saying I am happy to pay but I am not going to use it."
Paying a charity auction bill late- after being contacted by the press in regard to it- after not paying at all up to that point and quibbling about the details.
Very poor, if true.
To go to a CHARITY auction, bid, and then welch on the payment. (Excuse the pun !)
)
Not very honourable it seems.
Charity is charity isnt it? Its not a Thomson holiday shop!
If you bid and win, you take the prize on your honour don't you. And pay up. Thats the point of a charity auction. You can't change your mind! Or is that a bit old fashioned!
That seems to be pretty poor form if you ask me, if what the paper says, is in fact true.
Being disparaging about the prize bid for is a bit cheap also.
It certainly doesnt read very well.
But maybe Neil can comment and quash the quotes in the paper etc?
Edited 1 time(s). Last edit at 2009:09:15:14:59:52 by UncleBryn.
Again more than happy to discuss any questions in person rather than on a message board. A number of fans have already emailed me questions that i have answered.
If people would rather we walked away from the club and left it to the fans to run or another party that you think are more credible then please let me know who they are as without our bid their would be no game at all on Saturday in the championship.
On the planning as i understand both structures are temporary and after the enforcement officer questioned our safety liscence we decided to wait until we had the council on side before making any changes to the ground. The last thing we would want is for fans to not be able to watch the game due to a dispute with the council. again any issues on this i can forward them on to get answers.
Thats the point.
Thanks for coming back though. Honestly.
It is best to just be upfront i think. You've got to see how the "no smoke without fire" argument goes. Best just to deal with it publically and address what i suppose is the most important set of stakeholders in all this. The fans. The people that have been coming for years and who will still be coming long after anyone connected with the club currently, either playing or in admin have long gone.
This whole thing about emailing personally seems strange to me i must say. 1 person on the forum can ask a question that hundreds or thousands are thinking. So you can answer 1 of them privately or everyones concerns at once.
There is no witchhunt as you mentioned in the article i think, but when people read this you've got to see how people would be concerned. The telegraph is hardly the sunday sport is it?
So finally, on the planning front then, i didnt understand what you meant.
Temporary structures still need an application i believe.
So have you actually made a planning application to Richmond Council? Have you actually filed the papers or not?
Final question!
Some of my best friends are anonymous posters with agendas. However, the level of scrutiny that the new management are being subjected is out of all proportion. People are talking about "high office". He's not standing for Parliament, folks, he's bought a rugby club. It's a commercial transaction, on which RDR has been scrutinised far more than any previous regime. They were able to buy the club because of the way it's been managed in the past. If they hadn't bought it, it would be bankrupt. The other consortium had no money; they were begging for money for outside sources. In the bit of the ST article that no-one seems to quote, John Taylor is quoted as saying that there is £2M from RDR in an escrow account. So prima facie the money is there.
It's one thing to query how the club is managed but constant ad hominem innuendo, however veiled, is a bit tiresome. Can't we judge the new management by their performance instead of questioning their bona fides before they've got their feet under the desk?
You are right there in a way.
But consider this, we get very exercised about the damage done to our reputation because of phil grenning getting a little mouthy at Bristol, andw e got very exercised about the cancelled game saga with Cambridge and the to-do with Esher etc last season. damage to our reputation.
Here is a paper that is as reputable as a paper can be, (for what that is worth), raising the issue that the new owner is subject to multiple law suits or threats of from a number of Different people/organisations.
Being judged on results is great.
But the stand thing for instance is a result and much trumpeted initiative. It's a little early for excuses.
The club is writing to members and putting out press talking about these developments as though they are cast iron.
Well are they or not?
I'm also happy to go to the game on Sat as i was, to go away to Notts and Bristol.
Also, it's a rough tough world out there and shrinking violets dont own rugby clubs or any other commercial organisation. Neil didn't seem to be a shrinking violet at that meeting.
Questions are easy enough to answer. They are only questions.
And asking questions doesnt mean that you dont support the team.
And walking around with a set of blinkers on, is not the test of a dyed in the wool supporter.
I was as critical of the last lot as anyone else when they did things that were wrong.
I havent been to ODP since the open meeting there with JT and Neil so on Saturday we will see won't we.
And where are these new sponsors.
If kelvin pays the creditors, then the trickle of season ticket money and gate receipts and drib drab of sponsorship will be drying up and either Kelvin, (as we all know he had to and he should be thanked for all time for it) or Neil will need to be directly funding the club from personal funds.
Thats the harsh reality of rugby at this level if you are trying to get into the premiership.
It takes a lot of private wealth to kickstart into a viable commercial entity.
Some of the points on here are legitimate business concerns (but I don't think there are many clubs in the country that aren't funded by private wealth). Some of the other points on here are just not relevant and they look like smears from bitter people.
The press are looking for "in the wake of Bloodgate, the next scandal to rock rugby..." aren't they?
Loved you on Gavin and Stacey by the way Bryn.
Thats it Pete, we all love this club. And we'll all be here long after various investors come and go, and some of our kids will be going too. Every club is like that. Thats why these questions are important.
I also hope the current investment succeeds. And i'm happy for it to be funded by private wealth too,
But hard questions have been raised and the time has passed where you can blame the old lot, or say we've only been here for 2 weeks.
And where is the new website anyway?
And why were the pack shoved around like that at Nottingham!
Anyway, if we start agreeing like this i'm going to have to belt out "islands in the stream" for you !
(I would still like an answer on the planning thing Neil, if you could please).
Edited 1 time(s). Last edit at 2009:09:15:16:55:12 by UncleBryn.
Quote:Haydn
....but based on the time you're spending on planning websites, Uncle Bryn, I think you need to get out more!
I know, it's a slow afternoon in the office!
Pub is calling i think.
Quote:UncleBryn
But hard questions have been raised and the time has passed where you can blame the old lot, or say we've only been here for 2 weeks.
I disagree (except on a literal reading of the 2 weeks.) There's at least a two-season window for blaming the old lot. The old lot made a few mistakes and I expect this lot will too. But I don't remember the old lot getting quite this level of scrutiny of their private (yes) affairs.
Quote:Bryn
Pub is calling i think.

Quote:The old lot did the best available with the generosity of a proven, long-established club member. The new lot have no such provenance. No one is scrutinising NH's affairs (what happened to the other investor?), what we don't understand is where the dosh is coming from and what are the motives? With the previous administration the answer to both of these questions were self evident. With the new administration there seems to be a lot of smoke and mirrors and no substantive facts - this is even more relevant if the objective of GP rugby is to be seriously believed, ask Cecil Duckworth how much it has cost him and it is a lot more than a couple of mill. With the complete lack of an established business history to back him up, is it any wonder that those of an enquiring mind should question whether Mr H has the skills or where with all to take Welsh in to the GP and Europe. (i'm already late for training, so i'm outa here)Shy1105Quote:UncleBryn
But hard questions have been raised and the time has passed where you can blame the old lot, or say we've only been here for 2 weeks.
I disagree (except on a literal reading of the 2 weeks.) There's at least a two-season window for blaming the old lot. The old lot made a few mistakes and I expect this lot will too. But I don't remember the old lot getting quite this level of scrutiny of their private (yes) affairs.
There are many visitors to this site that are new to LW so it is probably worth giving a bit of background as to how the club was funded in recent years.
There had been one major investor over the last couple of seasons. Kelvin Bryon has a long-standing, successful business with a history of trading in the UK and a working website.
The Sunday Telegraph article reports that Saudex have no such business record and a website that is just a front page. Neil's background before his Saudex involvement is unknown.
The two situations appear poles apart and that is why it has become such a hot topic of discussion. The accusations that various sides are playing out their own agendas really don't help a discussion that supporters are entitled to have.
Edited 1 time(s). Last edit at 2009:09:15:20:36:06 by Dragons' Den.
Quick couple of questions:-
- do all these public attacks on the investors strengthen or weaken the club?
- a number of people have identified themselves- NH, Rob from LW, and Ian Horgan; will all these others (Dragons Den, shy1105, big reddragon2009) be open enough to identify themselves either publically or via a pm?
- the aim seems to be to drive Red Dragon Ltd into walking away: which would mean liquidation of the professional club; how does that help the amateur or professional side of the club?
-Given that the answer to the first question is that it almost certainly weakens the club, what is the motivation of the posters?
And a quick google (not exactly Sherlock Holmes) shows NH's cv here [www.linkedin.com]
And as I've said before,I'm not on the side of anyone except London Welsh professional and amateur sections.
However, I have been a member for most seasons since 1979, and I was a shareholder in the old limited company. Star sign Leo, blood group A.
Ian, I never said anything about training at the club on the Tuesday, that was pheasantplucker.
Like Haydn, I certainly don't want "to drive Red Dragon Ltd into walking away", I agree that would mean "liquidation of the professional club. I am on the side of the LW professional and amateur sides. "Can NH fund the club" is a legitimate question IMHO, though I don't think Neil is under any obligation to answer that question on this website (he may or may not think it's in his interest to do so.). I think the relevance of "how did NH get his money" is debatable. "NH's behaviour at charity auctions" is IMHO nothing to do with us.
Some people need to think about their logic a bit. Absence of evidence is not evidence of absence.
What's the feeling on "no money" v "£2m in an escrow account"? Are we choosing to ignore that...particular...bit of the ST article?
Edited 1 time(s). Last edit at 2009:09:16:10:59:47 by Shy1105.
Quote:It's not just the 2 million, playing in the GP is going to cost £5 mill + pa. For the apologists and rose tinted specs wearers that is a load of season tickets....Cynicism abounds
You have a very credible Chairman. You have the RFU and the Administrator to thank. You have every right to ask where Mr Hollinshead got hold of £2m (personnally). You have to ask whether his personal creditors will bankrupt him - they may. You have to hope this doesn't end badly for Welsh. But rest assured 50% of you will say I told you so and 50% won't. It's so exciting.
I agree that it's exciting, but sadly polarised opinions are stifling open debate
This is actually getting a bit pathological now.
It is obvious that a very small group of people are very much opposed to NH having any involvement with London Welsh. I would suggest that if the questioning continues NH may well walk away and the very small group of people will win the day.
Let us be very clear as stated in previous messages the NH OPTION WAS THE oNLY VIABLE OPTION ON THE TABLE that was put to the Administrator and RFU.
If you want this very small group of NON LONDON WELSH SUPPORTERS TO WIN MESSAGE BOARD ADMINISTRATOR take off of this message board all the really negative stuff.
I agree that NH's has perhaps raised questions that may need to be addressed - They will either be addressed and the club survive - lets hope so we will back to square in a short - For god sake give NH a chance and "sanction" the negative people
I for one am sick and tired of all this "@#$%&" and back biting by a group of small minded individuals. Let's all get behind the new administration and be thankful that we are able to watch championship rugby at ODP this season!!!!!
Edited 1 time(s). Last edit at 2009:09:17:21:09:30 by RIL1.
Sorry I should have said, Ian Horgan, co/chair of CASC who represent 90% of London Welsh RFC, hence the edit and getting very tired of all this ****
Should add playing, not supporting, before you bite my head off.
Anyone wanting to offer insight, email me rather than smear.
Edited 3 time(s). Last edit at 2009:09:17:21:57:40 by Ian the Wizard.

Edited 1 time(s). Last edit at 2009:09:17:23:30:44 by paddytaf.
On which note, i really hope we can get a bonus point win tomorrow and start getting some momentum going.
Quote:UncleBryn
Blodwens right and others have mentioned, just asking questions doesnt mean you are not supporting the team and London Welsh.
On which note, i really hope we can get a bonus point win tomorrow and start getting some momentum going.
Hear hear UncleBryn. A bonus point WIN tomorrow will do just fine. Just off for a round golf, see you guys tomorrow. PADDYTAF (Not in disguise!)

I have a great friend who is a Quins supporter who has not renewed his season ticket in disgust, lets not let our reputation go down the same route by fueling speculation but be prepared to do what we can to rescue the club if the speculation is true, and the doubters be big enough to admit we were wrong if it isn't. Either way I can't see any one man being bigger than London Welsh.
