GRR: USA Rugby
The USA Rugby Congress and Board approved and ratified a move to file Chapter 11 Bankruptcy in the next couple of days, this according to sources close to the issue.
Not everyone was for Chapter 11, as there are reports that some felt it isn't a big enough change.
Several mainstream news sources are reporting that the USOPC (US Olympic and Paralympic Committee) is going to lose hundreds of millions of dollars because of the postponement of the 2020 Olympics to 2021.
According to several sources close to the issue, USA Rugby may have been thrown a fragile lifeline by World Rugby.
Based on what we have heard and seen on Friday, here’s the situation:
This is an Opinion Column by Goff Rugby Report Editor Alex Goff—Why should World Rugby bail out USA Rugby this time? Maybe because World Rugby is partly responsible.
World Rugby has pumped a lot of money into USA Rugby in recent years, but that money often has come with strings attached. Sometimes the costs of those strings have been a bit much.
Days remain on USA Rugby’s insurance coverage for its directors and officers, insurance coverage that protects them from lawsuits and debts incurred by the organization.
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