The Irish Rugby Football Union have this evening announced that they will make €500,000 available to clubs in light of the Covid-19 crisis.
Following a review of its financial position, the Union has agreed to the funding and Domestic Game Director, Colin McEntee, will be advising clubs how the fund is to be applied as soon as is practicable.
The IRFU has confirmed the funding directly to clubs today in a communication that provided them with additional guidance and advice in relation to the on-going operation of their clubs during this unprecedented crisis.
The following information has been sent to clubs this evening:
What are the IRFU doing for clubs?
1. We have agreed to funding of €500,000 to be made available to clubs. We will come back to you with further detail as soon as is practicable.
2. We will put in place a moratorium on all club loan repayments for four months from April 1st.
Loans in excess of €4 million have been made available to clubs by the IRFU under its current Financial Assistance Scheme. A moratorium on all club loan repayments will be put in place for a period of four months, effective from April 1st, 2020. This will benefit the 56 clubs with payments outstanding to a value of over €150,000 during this period.
What can clubs do?
The IRFU encourages all of its clubs to draw on any government assistance available to them.
There are a range of support schemes for organisations impacted financially from coronavirus.
The Department of Business, Enterprise and Innovation has outlined a number of Government supports for COVID-19 impacted businesses including:
• Credit Guarantee Scheme
• Loans for microenterprises
• €200m SBCI COVID-19 Working Capital Scheme
• €200m Package for Enterprise Supports
• Advice for engaging with revenue, checking insurance covert, talking to your bank and taking immediate steps to manage your cashflows.
For more details, go to: https://dbei.gov.ie/en/What- We-Do/Supports-for-SMEs/COVID- 19-supports/
The IRFU are in ongoing contact with Sport Ireland and will provide updates with specific information on how this relates to rugby.
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