The Board carefully considered the various joint venture proposals, which are still at different stages of development. Recognising the complex situation, the Board fully supported Scottish Rugby Chief Executive Gordon McKie in his task of progressing matters to a final stage in the next two to three weeks.

“This is a critical time for Scottish Rugby and it’s no exaggeration to say the future funding of our professional teams is a serious concern,” said Allan Munro, Scottish Rugby Chairman. “Failing to address this debt is not an option but we simply cannot continue to run three professional teams without joint investors or other external sources of revenues. Gordon is exploring all serious offers and we sincerely hope the end result is the continued existence of the three pro teams.”

McKie is on record as saying if suitable terms cannot be agreed and opportunities do not materialise then, despite recent notable successes at international level, Scottish Rugby will have no alternative but to further reduce the existing investment in pro-team rugby before the start of next season.
Emerging from the Board meeting McKie commented, “We are at a very sensitive stage in our talks with potential investment partners and whilst I recognise timing is getting very tight, the Board were agreed that we are following the right course of action.”