Financial bail outs come to the world of rugby

The Kiwi press this week has been reporting that the New Zealand Rugby Union will be providing financial assistance to the Cantebury Rugby Union, home of the Crusaders.

While some of us may have thoughts that rush to visions of some lowly accountant in the back office of the Cantebury Rugby Union engaging in credit default swaps, naked short selling and collateralized debt obligations while simultaneously shorting the coffee futures market thus necessitating a financial bail out, the reality is far more sobering:  Christchurch is still reeling from the after effect of the massive earthquake earlier in the year.

Crusaders rugby in happier times.

The cobbled together recovery plans for Christchurch rugby, including hosting a game at Twickenham, have not had the financial impact rugby fans may have hoped for. It’s just not financially viable from a ticket sales perspective to host the mighty Crusaders in small 10,000 seater stadiums while the team waits for a stadium to be rebuilt.

It’s a pretty poor showing that SANZAR as a whole aren’t providing assistance to Crusaders rugby in their time of need. For years both Australia and South Africa have benefited from having the tv ratings boost of having the unbeatable men from Christchurch in town.

The original story is up on Fox Sports here.

So here’s to our brothers and sisters in Christchurch and on behalf of rugby fans everywhere – we are sending good vibes to the kiwis as they try to put their rugby union back together.

Smokey the Bowler

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