After enduring some tough times and challenges over the last few years and the prospect of going into administration, Bonymaen RFC are optimistic about future prospects both on and off the field after a change of board membership and financial support from Barclays.
With the introduction of professional contracts in 2011, Bonymaen RFC chased the dream and over extended themselves in the hope of achieving Premiership status and a lucrative £1 million financial incentive. After narrowly losing in the Premiership play off final to Maesteg, Bonymaen suddenly found themselves £650,000 in debt, without a structured repayment strategy.
Alun Evans, Director at Bonymaen RFC said
“As with quite a few other clubs Bonymaen decided to chase the dream, paying players, providing cars and other incentives to entice players to the club but the business model was not sustainable and nearly sent the club to the wall.” The late Gerald Ley, Treasurer worked tirelessly to help the situation by reviewing our situation with all creditors, we are so grateful to him. Then Barclays via Gerald introduced us to their business support specialist Chris Pinder who developed a real understanding of our club and business model and worked closely in partnership with us to deliver a turnaround solution. The bank gave us the breathing space and support to explore and implement the business strategy which has allowed us to emerge a stronger and more profitable operation.”
We now have a Board of Directors comprising Alun Evans, Hywel Bryant and Gareth Lewis who work alongside our new Chairman Richard Scannell and his Committee. The Coaching Team of Dai Allen, Stuart Allen, Rory Thornton and Chris Moore are really bringing the best out of our players and the Women’s Team are performing wonders.
Helen Baddick, Barclays Business Relationship Manager, said,
“As champions of local business, it is essential that we support local businesses not just when the going is good but also when they face difficulties. The vast majority of customers who undertake the turnaround programme are successful in returning to good health. By really understanding the business and issues they have faced, Barclays has been able to support Bonymaen RFC throughout the turnaround process. The club no longer pay players and very much focus on Junior development for success.”
Alun Evans continues:
“We now play in Div 1 West Central and just narrowly lost the plate final played at the Principality Stadium last weekend (April 28th). We have gone back to our roots of producing local talent by investing into our Junior development squads. As well as success on the field, we have worked closely with Barclays to significantly reduce our debt, allowing us to trade profitably for the first time in years.
Running a rugby club is tough, being tied both professionally and emotionally 24 hours a day, but the rewards far outweigh the downsides even after the long hours. The joy of seeing Bonymaen RFC shirts still on the field every weekend or simply a big smile from one of our kids makes it all worthwhile.”
For further details, visit www.bonymaenrfc.mywru.co.uk