How Global Financial Crisis is Affecting Rugby Football in Europe
In recent times, the implications of the Crisis on sports, rugby included, has began to show. Teams have started to feel the pinch and many have started taking measures to brace for the looming tough times ahead.
While every rugby team aims to crown their season with some sort of silverware to mark their success, more and more teams are becoming wary when it comes to signing new players. This is due to the high transfer fees demanded for players.
Continental Glory
As a result of this, club coaches are making do with what they have, even at the expense of continental glory. Rugby clubs in Europe seem to be more concerned with maintaining their top flight status in their domestic rugby leagues and less concerned with concurring the continent. And can you blame them? To win a continental trophy like the Heineken Cup requires a team to have depth in the squad. To attain this depth, a team needs to have a few big name signings on their team sheet.
€700 000 Spending
To have such players a club has to splash out about €700 000. But with the cash crunch starting to bite hard on the sport in Europe, few clubs if any are willing to spend such an amount on one player.
Negative BalanceSheet
The situation is the same across the board. Big clubs are also crying out for cash injection; with many barely been able to remain liquid. Many have reported negative results in their end year results.
