Lions hit back at bankruptcy allegations

December 8, 2011
Posted by

The Golden Lions Rugby union on Thursday hit back at rumours on social media and websites that they are bankrupt.

Yesterday sports journalist, Tank Lanning, wrote on his blog, The Front Row Grunt that he received a message from an anonymous source who stated that the Golden Lions Rugby Union is bankrupt and can only afford to pay their players until the end of December.

In a strongly worded statement published on wetalkrugby.com the Golden Lions denied these rumours as malicious and even threatened legal action against the source of these rumours.

The initial rumours, circulated via an individual’s blog website stated that the information was received from a “reliable source”, but would not name the source.

The Golden Lions Rugby Union would like to reiterate the comments that “they are malicious rumours” made on Twitter in response to numerous queries from supporters.

”Statements such as those made by this individual are incredibly damaging as they create an unnecessary sense of unease and panic amongst those within the Union structures. We will not tolerate this and are seeking legal advice”, President of the GLRU Mr. Kevin de Klerk said.

Further statements in this individual’s blog stated ‘given that the Lions have been in financial poo for a while, I can well believe this news. After all the previous investors did not pull out of the deal without reason…’

”The relationship with the previous equity partners did not work out, but the matter was closed on 28 June 2011 and we will not rehash or reopen that discussion”, de Klerk said.

The closing line of the article states ‘that John Mitchell and his team performed despite this is the amazing, yet slightly sad, side to the story’.

The fact of the matter is that the team performed so well due to the stability and continuity experienced within the Lions. The coaching staff and players received support from management and administrators in every way possible, and the results speak for themselves.

”The new equity partners, in conjunction with the existing management, have made numerous changes within the Union’s structures and we are in a better position at the moment than we have been in quite some time. The Union is growing in both strength and stature and rumours such as these started by one individual can potentially undo much of the good work done over the past few months.

”This matter is now considered closed and until we have had formal discussions with our legal team on the way forward, we will not be commenting any further”, Mr. de Klerk concluded.”

Post to Twitter Post to Facebook Post to MySpace

Tags: , ,

12 Comments

  1. avatar bryce_in_oz says:
    December 9th, 2011 at 3:52 am

    Probably not far from the truth… that said Lanning is becoming like Ollie in many respects… should know more about rugby… should know better for baseless opinions…

  2. avatar DavidS says:
    December 9th, 2011 at 7:04 am

    The problem with being shall we say “non professional” journos is that we lend our ears out too often… then you get “sauces” instead of sources.

    This is what happened to Tank…

    In the beginning of RW we had similar “sauces” who fed us info… sometimes with … shall we say…. “nefarious self interest purposes” in mind. It takes a while to determine who is and who is not bullshitting…

    Tank obviously has not reached that yet.

    I feel sorry for him.

  3. avatar Stormersboy says:
    December 9th, 2011 at 8:35 am

    Fact is, a simple “strong denial” doesn’t nescessarily mean that Tank was wrong though.

    Now it becomes a case of he said she said.

    I have a sneaking suspicion that the sentence “……and rumours such as these started by one individual can potentially undo much of the good work done over the past few months.”

    could imply that they are in fact in financial trouble but are in negotiations with a partner and didn’t really want them to know how desperate things were so as not to weaken their negotiating position.

  4. avatar DavidS says:
    December 9th, 2011 at 8:59 am

    Dude the Lions’ media presser starts with the heading

    “False allegations made against GLRU”

    There is not equivical about that.

  5. avatar Kat says:
    December 9th, 2011 at 9:06 am

    Reply to Stormersboy @ 8:35 am: The Glasfit equity partner deal is already signed and sealed … and very importantly, the new partner (Altman Allers) knows exactly what the union’s finances look like.

    As Morné said on many occasions, most other unions are in no better position. Most unions owe SARU big money. The GLRU paid their SARU debt with the income generated from the FNB Stadium NZ test.

  6. avatar DavidS says:
    December 9th, 2011 at 9:20 am

    Ja we saw the books a while back…

    Reading from a pro was “not as bad as one would have thought”

    They have consolidated their debts and the incessant debt growth of the last five years has been checked in the last more or less season and a half.

  7. avatar DavidS says:
    December 9th, 2011 at 9:25 am

    Anyway let’s screw this thread up

    Please carefully look at this photograph, then at the comments…

    White pants

    - For young men, it’s a nice ass. Only the most observant will define this as an ass crossing the street. The really observant will see the thong.

    - For older men, it is a respectable woman with a nice ass crossing the street.

    - The perverts will imagine her as a naked woman.

    - The wise men will ponder the presence of mind of the photographer in the face of such beauty and gratitude that it was shared with humanity.

    - For half of the women, this is an ordinary woman who should not have left home dressed that way.

    - The other half is wondering where she bought that blouse.

    - The wise women imagine the misery that this will be at 50.

    - Children, the curious, and monks will probably notice a dog driving the taxi.

    Don’t be alarmed, I didn’t see the dog either.

  8. avatar Stormersboy says:
    December 9th, 2011 at 9:31 am

    Reply to Kat @ 9:06 am: Reply to DavidS @ 9:20 am: Nice to know. No one wants to see another union hit the skids.

    Does that mean that Elton, Minnie, Doppies and Mapoe won’t be coming to the Cape after all???

  9. avatar DavidS says:
    December 9th, 2011 at 9:36 am

    Sorry dude….

    You’re welcome to Burton Francis though…

  10. avatar Stormersboy says:
    December 9th, 2011 at 9:41 am

    Reply to DavidS @ 9:36 am: haha you know, he might just come in handy actually…..

  11. avatar Timeo says:
    December 10th, 2011 at 4:47 am

    Ah. Threatening legal action!

    How often do we hear that line?
    How often does anyone actually do it?

    Rugby must be the worlds biggest collection of windbags.

  12. avatar Boertjie says:
    December 10th, 2011 at 3:15 pm

    Somebody should tell these guys that
    a lion in gold/yellow does not show
    well on a white background.
    :Rule 9:

Switch to our mobile site