Daily Mirror (Northern Ireland)
500,000 reasons why it’s unfair to price us all out of the Challenge Cup
TORONTO DESPERATE TO SHOWCASE RUGBY LEAGUE AROUND THE WORLD BUT BEING HELD BACK BY HUGE BOND DEMAND
TORONTO WOLFPACK say they would relish the chance to enter this year’s Challenge Cup but only if the RFL scraps its controversial bond demands for overseas clubs.
The Wolfpack, Toulouse and holders Catalans were all asked to submit a £500,000 bond after last year’s final suffered an £800,000 shortfall in projected income due to the low crowd.
Toulouse had already committed to not entering, Toronto withdrew in December when the policy was implemented and the Dragons have now confirmed they will not defend the trophy under these terms.
The RFL is looking for a solution to the issue and Wolfpack owner David Argyle says the Championship club would jump at the chance to re-enter.
Argyle told Mirror Sport: “We would love to participate in the Challenge Cup. We were asked to underwrite £500,000, the same as Catalans, if we were to be successful and reach the final.
“Given that we don’t receive a cut of the central funding, which would have been half a million last season, we felt that was a little bit unfair.
“We’re not whingeing and understand the facts and reasons why, but we’re a club that wants to get as many games on TV as possible and showcase the sport around the world. If the RFL were to reconsider the bond situation then we would love to be back in the Challenge
Cup.”
Toronto have secured new investment in the club that Argyle says will generate $10million and see the launch of three Wolfpack-branded products worldwide, including isotonic and alcoholic drinks.
During discussions, the current squad had delayed payments in December, but Argyle says they will be met in full early this week and that the ambitious club can now look forward with optimism.
Argyle, who will retain a majority shareholding, added:
“We prioritised the long term and that caused some shortterm pain, and we’re not happy that we fell short of where we want to be. But early this week all player payroll will be up to date.
“We’ve been putting this deal together over the last three months and it’s a really exciting moment for us. It’s not just a single cash injection, they are looking at injecting further capital next season. “The club can’t rely on ticket sales, merchandise and sponsorship.
“And if you don’t have any central distribution either, the reality is that will never be sustainable given the extra costs of running a transatlantic team.
“The value of this deal to the club is a $10m capital injection, plus a share of the revenue of the products. That has a potential value to the club that can extend over many seasons and provide that sustainability.”