Rule Departs Widnes, Debt Written Off, But No New Investment Yet

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1 February 2019

After announcing his resignation as CEO of recently relegated Widnes Vikings in November, James Rule officially signed off last week as the club continues to seek external investment and a transition in ownership. The good news is that the outgoing directors have written off their investment in the club. The bad news: no news of future backers.

“It has been an honour to lead Widnes Vikings for the past seven seasons. Today, as I formally step down from my operational role as chief executive, I want to provide an update on the current position for the club.

“As I announced in November, I have committed to departing from the club ahead of the start of the 2019 season. Throughout this period, my complete focus has been on securing a transition of ownership, bringing external investment into Widnes Vikings that will secure the immediate and longer-term future of the club.

“To facilitate this transfer, the five shareholders of Widnes Vikings collectively agreed to relinquish their shareholding for no financial gain. The board of directors have also written off all previous loans in their entirety that they have made to support the club throughout their ownership, totalling £377,000.

“Whilst we have been actively seeking investment from a range of individuals and consortia, there have unfortunately been no formal offers to take on the ownership of the club to date.

“Whilst Widnes Vikings, with investment, can be a viable, thriving and successful club in the long-term. In the

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