Welsh Rugby Union (WRU) chairman Gareth Davies says the governing body is seeking a loan of around £20m to help cope with the coronavirus crisis.
WRU chief executive Martyn Phillips has said they were looking for financial help, but did not state how much.
“We are looking for a loan of around £20m,” said Davies.
“We are still in talks to secure a loan, hoping to finalise something before the end of the month as we have bills to pay.”
The Welsh Government could help, World Rugby has provided an £80m contingency fund while remortgaging Principality Stadium or a bank loan could also be options.
Davies has previously said the effect of coronavirus has been “catastrophic” on the WRU’s budget.
The organisation facing a significant funding shortfall, as more than half of the £90m of annual group income comes through international matches and events staged at Principality Stadium in Cardiff.
Phillips insisted most of the borrowed money would go to the four Welsh regional sides – Cardiff Blues, Scarlets, Ospreys and Dragons.
Davies also told BBC Radio Cymru’s Dros Ginio the WRU was in negotiations with the National Health Service (NHS) about how long the Principality Stadium would remain a field hospital with the current contract expiring last week.
UK Prime Minister Boris Johnson announced last week a £3bn package to help maintain the seven Nightingale hospitals in England until the end of March 2021.
The Welsh Government is undertaking a review of the field hospitals in Wales. One of them is the Dragon’s Heart Hospital built in Principality Stadium to help ease pressure on the NHS amid the coronavirus pandemic.
The WRU is renting the stadium to Cardiff and Vale University Health Board (CVUHB), with the temporary hospital serving as an overflow for Wales’ largest hospital, Cardiff’s University Hospital of Wales.
With 1,500 beds, the stadium’s hospital first accepted patients on 29 April. Discussions remain ongoing between the WRU, CVUHB and Welsh Government.
“We’re still is discussions with the NHS to extend the current contract,” said Davies.
“That contract actually expired last week. It’s tough for them because they’re hoping that we won’t see a second wave.”
With Principality Stadium possibly out of action for the autumn internationals, Davies said the WRU is still unsure which venues Wales would play at.
London arenas were being considered alongside the regional grounds depending on whether crowds will be allowed in by late October and November.
“We’re still not sure where those games [autumn internationals] will be played,” said Davies.
“We’re also in talks with other stadiums in Wales, because if crowds will be allowed into grounds throughout Great Britain then Parc Y Scarlets, Rodney Parade, Cardiff City Stadium and the Liberty Stadium will become options.
“But because the Union has financial problems, we have to look at all options like the Tottenham Hotspur Stadium, London Stadium, Wembley and Twickenham.”
Davies unlikely to remain WRU chairman
The former Wales and British and Irish Lions fly-half also said it was unlikely he would be seeking a third term as WRU chairman, with the future of chief executive Martyn Phillips potentially a decisive factor in Davies’ final decision.
Davies is standing to again be a National Council member and was initially elected chairman in October 2014.
Phillips extended his stay to help deal with the coronavirus pandemic. Davies indicated he would only stand again for chairman if some continuity was required at the highest levels within the WRU.
“I don’t see myself being chairman again, but I hope to be a member of the council,” said Davies.
“I think it’s important to get a bit of continuity.
“We will have to see if Martyn Phillips leaves soon, we don’t know when that will happen. But I’d be willing to throw my hat into the ring.”
Article courtesy of BBC Sport
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