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Rugby, Australian Football: Welsh Rugby Union close to new deals

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posted on Jul, 6 2004 @ 02:07 PM
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The Welsh Rugby Union are close to receiving a double boost as they look to ease their debt, which stands at around £70million.

The WRU have won permission from the Millennium Commission to sell part of the naming rights to the world-famous Millennium Stadium.

This means the word 'Millennium' would remain but be preceded by the name of a sponsor.

Chief executive David Moffett is also close to clinching a deal with Barclays Bank and BT to reschedule repayments on loans made to the governing body and make the interest payments more affordable.

The union hope to make a formal announcement on their improved financial outlook before the end of the month.

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