Following the news that Gateshead & Newcastle Rugby Limited is to be wound up, a new company, Thunder Rugby Limited, has been formed to take Gateshead Thunder forward.
Once Gateshead & Newcastle Rugby Limited has been liquidated, the RFL will suspend the membership of Gateshead Thunder as has happened with clubs recently entering administration. Membership of the RFL and the Co-operative Championship is not an asset of Gateshead & Newcastle Rugby Limited, but of the RFL.
The formation of Thunder Rugby Limited will allow this new company to apply for membership of the RFL and the Co-operative Championships leagues. This is the first step in securing the long term future of Gateshead Thunder.
Thunder Chief Executive, Rod Findlay, commented:
“This is the first formal step in protecting Gateshead Thunder‘s future. The more the staff work on the business plan, the more convinced we are that there is a future for professional rugby league in the North East. We have received letters and e-mails of support from local businesses, community partners and the media. This is all great evidence to show the RFL.
Obviously we need a trading vehicle and we have now set up Thunder Rugby Limited. We have also applied for a bank account. We need to place ourselves in the best position to agree contracts for 2010 as soon as the RFL have given approval for the business plan.”
The three initial shareholders and Directors of Thunder Rugby Limited are Rod Findlay, Keith Christie (Commercial Manager) and Chris Hood (Director of Rugby). Each has taken 20 shares of the 300 authorised share capital. The strategy is to have a wide shareholding and to draw from the local business community for Non-Executive Directors.
Gateshead Thunder will hold a Pledge Meeting for fans, sponsors and partners to hear the plans for the future and to pledge support for 2010. The event is scheduled to take place on the evening of Wednesday 11 November. Full details and the venue will be announced in due course.