USAR is ‘filing’ for bankruptcy
NEW YORK March 31, (AP): USA Rugby has decided to file for Chapter 11 bankruptcy because its financial woes have been exacerbated by the coronavirus shutdown.
In financial strife since 2018, USA Rugby’s recent attempt to restructure was set back this month when it had to suspend all activities indefinitely in the face of the pandemic.
The loss of spring and summer membership dues, and sponsorship pullback, has “resulted in significant loss of revenue,” and the sport’s national board and congress agreed on Sunday that filing for Chapter 11 combined with more approved loans from World Rugby were “the best platform to swiftly and efficiently address challenges and deliver a foundation for future stability.”
“The current suspension of sanctioned rugby activities caused by the ongoing COVID-19 pandemic has accelerated the existing financial challenges facing the union, and a reorganization process will now be progressed with input from World Rugby,” USA Rugby said in a statemen t on Monday.
its gratitude to all of the professional athletes for their implication in such an exceptional situation that has been caused by this health crisis.”
Barcelona was among the Spanish clubs that announced last week they will reduce players’ and coaches’ salaries during the stoppage.
Spain has been one of the hardesthit nations. The country overtook China on Monday for confirmed infections with more than 85,000. It also reported 812 new deaths, raising its overall confirmed death toll to 7,340.
Barcelona said on Saturday it delivered 30,000 masks to the Catalonia government to help fight the pandemic. The club said it was working through its foundation “to do as much as possible to help with this crisis, both locally and internationally.”
“The club has put itself at the service of the health authorities,” it said.
Barcelona’s Lionel Messi (right), celebrates after scoring his side’s opening goal from the penalty spot during a Spanish La Liga soccer match between Barcelona and Real Sociedad at the Camp Nou stadium in Barcelona,
Spain on March 7, 2020. (AP ) TOKYO, March 31, (Agencies): The countdown clocks have been reset and are ticking again for the Tokyo Olympics.
The model outside Tokyo Station, and others across the Japanese capital were switched on almost immediately after organizers announced the new dates – July 23 to Aug 8, 2021.
The clocks read 479 days to go. This seems a long way away, but also small and insignificant compared with the worldwide fallout from the coronavirus. Then again, it’s not much time to reassemble the first Olympics to be postponed since the modern games began 124 years ago; not for 11,000 Olympic athletes, 4,400 Paralympic athletes – and not for sponsors, broadcasters, the fans that have already bought tickets, and Japanese organizers and taxpayers who have spent billions, and will have to come up with billions more to pay for the setback.
“I believe that these Olympics are going to have great historical significance,” Yoshiro Mori, the president of the Tokyo organizing committee, said after confirming the new dates.
Mori, an 82-year-old former Japanese prime minister, also recalled there’s no guarantee that the coronavirus pandemic will be under control a year from now. That includes the new dates for the Paralympics now set for Aug 24-Sept. 5.
“This is a prayer that we have and I do believe that someone is going to listen to our prayers,” Mori said.
After cursory talk about an Olympics in the spring, the new summer dates overlap perfectly with the same time slot that was picked for 2020. Organizers are hoping to overlay the old plans with new plans, keeping venues in place, securing thousands of rooms in the Athletes Village, deploying the same volunteers, and letting people who bought tickets keep them.
The summer date also avoids conflicts with the crowded North American and European sports schedules. But summer in Tokyo also means grappling with intense heat and humidity, the major worry for games organizers before the pandemic.
“Obviously in the summer there might be typhoons and the heat problems,” Mori said. “However, this situation is the same. We always had those problems so we will be prepared for those issues.” Though the international sports federations went along with the new dates, was based on three main considerations: to protect the health of athletes, to safeguard the interests of the athletes and Olympic sport, and the international sports calendar.
“These new dates give the health authorities and all involved in the organisation of the Games the maximum
Tokyo 2020 Organizing Committee President Yoshiro Mori (left), and Toshiro Muto (right), CEO of the Tokyo 2020 Organizing Committee, wear face masks during a news conference, in Tokyo Monday, March 30, 2020. The countdown clock is ticking again for the Tokyo Olympics. They will be July 23 to Aug 8, 2021. This seems light years away, but also small and insignificant compared to the worldwide fallout from the coronavirus. (AP)