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Cardiff statement: Helford Capital takeover deal confirmed

Cardiff's Alex Mann (Photo by Ryan Hiscott/Getty Images)

URC strugglers Cardiff have confirmed that their takeover by Helford Capital will be completed on Wednesday after a club general meeting gave a 99.99 per cent approval for the deal to go ahead.

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Club representatives met on Tuesday evening and it was ultimately decided that the best decision was for the Welsh region to accept the majority shareholding offer.

A statement read: “Cardiff Rugby are delighted to confirm Helford Capital Limited’s acquisition of a majority shareholding in the company will be completed on Wednesday. A general meeting took place on Tuesday evening and the relevant changes to the company’s share structure and constitution to allow the acquisition received a 99.99 per cent majority approval.

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Sam Warburton on club rugby in Wales

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Sam Warburton on club rugby in Wales

“Several other amendments to the articles were also approved by shareholders, including changing the company’s name to Cardiff Rugby Limited and the introduction of additional heritage rights.

“Helford Capital, which is an investment group spearheaded by British businessmen Phil Kempe and Neal Griffith, will now become majority shareholders of the company, with Gareth Edwards appointed the club’s new president.

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It is a historic moment for Cardiff Rugby, which completes months of negotiations and secures the club’s long-term future… The investment group had already secured approval from the Welsh Rugby Union (WRU) and from Cardiff Athletic Club, who will retain a minority shareholding in the club.

“Cardiff Rugby Limited now look forward to working closely with all stakeholders including the new leadership of the WRU to deliver a stable and successful future for the Blue and Blacks and whole professional game in Wales.

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“The completion of this significant transaction brings an end to the formal relationship between Cardiff Rugby and the Thomas family, which spanned five decades. During that period Peter made an immeasurable contribution to his beloved club as a player, patron, benefactor, long-standing chairman and life president.

“His contribution has been recognised at the Arms Park with the renaming of the South Stand as the Peter Thomas stand, while a portrait in the trophy room was commissioned and unveiled last month.”

Cardiff Rugby chair Alun Jones said: “Today represents a huge moment in the history of Cardiff Rugby and gives us a bright, secure and exciting future. Following the sad passing of Peter Thomas, it was essential that we found new investment to safeguard the cub and drive us forward.

“We remain indebted to Peter, the Thomas family and the other shareholders who have moved on but we now have new owners who can help us fulfil Peter’s vision and ambitions for the club with renewed passion. Phil and Neal have a genuine appetite to restore Cardiff as a European force and have already begun stabilising the foundations.

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“With Helford Capital at the helm, we want to deliver exceptional rugby experiences whether you are a player, a member of staff, a supporter or sponsor. Helford have the resource and ambition to deliver that and we will now begin an inclusive process with all key stakeholders to build a new long-term strategy.”

New WRU chief executive Abi Tierney said: “Congratulations to Cardiff Rugby and everyone involved in the negotiations and process to seek new investment, which today has reached a hugely successful conclusion. We welcome Helford Capital wholeheartedly to Welsh rugby with a sense of excitement and optimism about what the future holds.”

Malcolm Wall, chairman of the WRU professional rugby board, added: “Firstly it is important to recognise and thank the Thomas family for their long-standing support of Cardiff and Welsh professional rugby as the club enters a new era under new ownership.

“The investment has been subject to a thorough process, and having met Neal and Phil, I am optimistic and excited about the future for Cardiff. Cardiff supporters should also be very excited about the future and I look forward to working with their new owners to help implement their vision.”

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AllyOz 19 hours ago
Does the next Wallabies coach have to be an Australian?

I will preface this comment by saying that I hope Joe Schmidt continues for as long as he can as I think he has done a tremendous job to date. He has, in some ways, made the job a little harder for himself by initially relying on domestic based players and never really going over the top with OS based players even when he relaxed his policy a little more. I really enjoy how the team are playing at the moment.


I think Les Kiss, because (1) he has a bit more international experience, (2) has previously coached with Schmidt and in the same setup as Schmidt, might provide the smoothest transition, though I am not sure that this necessarily needs to be the case.


I would say one thing though about OS versus local coaches. I have a preference for local coaches but not for the reason that people might suppose (certainly not for the reason OJohn will have opined - I haven't read all the way down but I think I can guess it).


Australia has produced coaches of international standing who have won World Cups and major trophies. Bob Dwyer, Rod Macqueen, Alan Jones, Michael Cheika and Eddie Jones. I would add John Connolly - though he never got the international success he was highly successful with Queensland against quality NZ opposition and I think you could argue, never really got the run at international level that others did (OJohn might agree with that bit). Some of those are controversial but they all achieved high level results. You can add to that a number of assistants who worked OS at a high level.


But what the lack of a clear Australian coach suggests to me is that we are no longer producing coaches of international quality through our systems. We have had some overseas based coaches in our system like Thorn and Wessels and Cron (though I would suggest Thorn was a unique case who played for Australia in one code and NZ in the other and saw himself as a both a NZer and a Queenslander having arrived here at around age 12). Cron was developed in the Australian system anyway, so I don't have a problem with where he was born.


But my point is that we used to have systems in Australia that produced world class coaches. The systems developed by Dick Marks, which adopted and adapted some of the best coaching training approaches at the time from around the world (Wales particularly) but focussed on training Australian coaches with the best available methods, in my mind (as someone who grew up and began coaching late in that era) was a key part of what produced the highly skilled players that we produced at the time and also that produced those world class coaches. I think it was slipping already by the time I did my Level II certificate in 2002 and I think Eddie Jones influence and the priorities of the executive, particularly John O'Neill, might have been the beginning of the end. But if we have good coaching development programmes at school and junior level that will feed through to representative level then we will have


I think this is the missing ingredient that both ourselves and, ironically, Wales (who gave us the bones of our coaching system that became world leading), is a poor coaching development system. Fix that and you start getting players developing basic skills better and earlier in their careers and this feeds through all the way through the system and it also means that, when coaching positions at all levels come up, there are people of quality to fill them, who feed through the system all the way to the top. We could be exporting more coaches to Japan and England and France and the UK and the USA, as we have done a bit in the past.


A lack of a third tier between SR and Club rugby might block this a little - but I am not sure that this alone is the reason - it does give people some opportunity though to be noticed and play a key role in developing that next generation of players coming through. And we have never been able to make the cost sustainable.


I don't think it matters that we have an OS coach as our head coach at the moment but I think it does tell us something about overall rugby ecosystem that, when a coaching appointment comes up, we don't have 3 or 4 high quality options ready to take over. The failure of our coaching development pathway is a key missing ingredient for me and one of the reasons our systems are failing.

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