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Sir Nigel Boardman to lead Premiership Rugby review of club finances
By
PA
Premiership Rugby has appointed Sir Nigel Boardman to lead a review of the financial position of its current clubs.
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It is a first step by the league’s governing body to establish a financial monitoring panel, which will work in parallel with a new sporting commission that will take responsibility for key decisions made by the organisation.
The changes occur amidst criticism for Premiership Rugby last year over its part in two of its former clubs, Worcester and Wasps, being removed from the Gallagher Premiership in October for being placed into administration.
Boardman has previously led a Government inquiry and advised a range of sporting bodies during a lengthy career in corporate governance. He will begin work with Premiership Rugby later this month.
Premiership Rugby chair Martyn Phillips said: “Financial reform of professional elite rugby in England is at the top of Premiership Rugby’s agenda and today’s announcement is a significant step forward for us.
“When Worcester Warriors and Wasps went into administration it was a devastating blow to two communities and professional rugby in England.
“Sir Nigel will begin a vital process that will see the establishment of a Financial Monitoring Panel (FMP), supported by a fit for purpose regulatory framework, to have better oversight of Premiership clubs’ financials and to put necessary safeguards in place to ensure our clubs become financially stronger and more sustainable in the future.
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“To have secured someone of Sir Nigel’s calibre to lead this review is a major boost to our strategy.
“Once the review is carried out we will form a Financial Monitoring Panel to ensure clubs become financially stronger and protect the integrity of Premiership Rugby and its stakeholders.”
An announcement on Premiership Rugby’s sporting commission will be made in due course with it set to be formed of independent members, including former players.
