The club has launched a facility whereby members can make donations using a secure on-line payment system.  The payments are processed using PayPal and no financial information is held on the club web server.  It is not necessary to have a PayPal account to use the system,  since credit or debit cards can be used directly.  It is also possible to setup a regular donation of as much as you can afford per month through the system,  but for this a PayPal account is required.

Cambridge Rugby Club Celebrate the Future

8th December 2010

Cambridge Rugby Club’s immediate future is assured after HM Revenue & Customs (HMRC) dismissed the petition for a winding up order against the CRUFC, in the High Court today. Steve Bowller, the club’s chairman, reacted enthusiastically to the news, “I think I can speak for everyone at the club, when I say how happy we are to have overcome this first key hurdle to assure the future of Cambridge Rugby club.”
 
Club member’s donations and a bank loan have been enough to satisfy HMRC that CRUFC can meet their responsibilities to pay the outstanding Revenue payments. The bank loan was secured once the club committee’s had fully developed a prudent 10 year business plan for the club to be a viable entity going forward with the objective of trading out of debt within 5 to 7 years.
 
Cambridge Rugby Club had the original HMRC winding up order adjourned on the 11th of November 2010 in the High Court pending a further hearing today (8th December 2010). Had this winding up order gone ahead the club would have had to cease trading immediately. However the loyal supporters of Cambridge Rugby Club rallied round. Firstly to form a rescue committee dedicated to finding a solution to the immediate financial problems of the club and secondly to raise the funds required to save the club.
 
Steve Bowller continued, “I would personally like to thank everyone involved with the Rescue Committee, especially Guy Mulley and Martin Davies, for their hard work. I would also like to thank the 260 loyal supporters who put their hands in their pockets and Bob Crooks and the 1st XV players who have given us all such hope with their on-field displays. At such a positive time I hate to sound a note of caution but the club still has sizable debts. I implore any members past and present who have not yet made a donation to think again. Every pound we can raise will be crucial in reducing what the club pay in servicing loans; if we could raise the fund to £250K that would be great!” The club 1923 Rescue Fund currently has donations of £167K.
 
The club’s commercial manager Phil Harvey also mentioned the important part that the sponsors of the club had played, “I have been amazed at the positive reaction from those businesses that support us. Even though the future wasn’t looking great most have honoured their commitments to us and pre-match lunches have never been busier.”
 
Cambridge entertains Stourbridge this coming Saturday 11th December in what promises to be an entertaining match. Cambridge is currently joint first in the league and Stourbridge are 5th. The club’s President, Alan Banks wants everyone to join him and the committee to celebrate the future, “It has been a very testing time but we have shown that we are equal to the challenge. Now we need to start generating some income and what better way than this weekend at the club on Saturday to watch the 1st XV or on Sunday with the Mini and Youth, the next generation.”
 

Please note that the kick-off time for the game against Blackheath on Saturday is 2.30 pm, not as previously published.

Those coming to the lunch need to know that lunch will be served promptly at 1.00 pm

A packed Camstead Suite listened to presentations by Guy Mulley and Martin Davies, who have been working round the clock to understand the clubs financial position and put together a credible plan that will allow the club to continue. The Cambridge News report of the meeting is here. Importantly members were given an overview of the trading position projected for the seasons ahead and how if that is realised the club can function and pay off its debts.  Its needs a massive commitment of cash now, we are half-way there, we need more pledges of money to Mills and Reeve now!  Donation forms can be downloaded here.

Steve Bowller made a passionate appeal for donations small large or small, every bit helps. He also pointed out that monies that are deposited with Mills and Reeve are safe, and will only be released provided the banks, the RFU, the HMRC and membership believe that the club can deliver the business plan.