Council Backs Hornets With £50,000 Loan

Date published: 03/08/2004

Rochdale Council is lending Rochdale Hornets RLFC £50,000 to help the club through some financial difficulties.

The loan, which is repayable with interest, is intended to help ensure the continuation of professional rugby in the Borough.

It is secured on all the Club's shares in the Denehurst Park Stadium Company and will help Hornets to ensure that the club continues to operate. This security, together with the terms and conditions of the loan, ensure that the Council's interests are also protected.

All three political parties on the Council supported making the loan.

Councillor Paul Rowen, Leader of the Council, said:
"The continuation of professional rugby in Rochdale is very important to the Council and the Borough. It is one of our great traditions, bringing many benefits to the area. It would be a very sad day if this club ceased to exist.

"In giving this loan, the Council is playing its part in helping to get Hornets back on its feet and I hope it will be followed with success on the field."