The Rugby Football Union has confirmed that London Welsh can remain in the Championship, but with points deducted. This was following the governing body insisting that Red Dragon Rugby Limited pays about Â£450,000 to creditors. The RFU was also satisfied the new owners could support the club financially for at least two years and also maintain its amateur and community roots.
London Welsh, who play in English rugby’s second tier The Championship, are once again solvent having written off debts of about Â£1.3m, so the company is expected to come out of administration by the end of the week.
Chairman Kelvin Byron hopes they now have a bright future and he said; (quote) I am delighted that the club will be able to stay in the championship, I am sure that the new funding will inject a new energy into the club helping it realise its aim of playing in the Premiership within three years. (end quote)