The decision to move the European Champions Cup Rugby to Switzerland doesn't look so bright now, except for those ERC staff who agreed to move over who have just received an effective pay rise of c. 20%.
The competitions' income is generated in Stg£ and Euro but they now have an expenditure base in Swiss Francs. Did anybody hedge that exposure? Maybe the Bath, Toulon or Saracens owners will pick up the tab?
EERC Cost Rise
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Edna Kenny
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Re: EERC Cost Rise
I'm cashing in my Toblerones
Re: EERC Cost Rise
Your swatch watch just became a very expensive piece of arm candy.
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Golf Man sums up the mood of a nation
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Peg Leg
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Re: EERC Cost Rise
Never thought of that!Ruckedtobits wrote:The decision to move the European Champions Cup Rugby to Switzerland doesn't look so bright now, except for those ERC staff who agreed to move over who have just received an effective pay rise of c. 20%.
The competitions' income is generated in Stg£ and Euro but they now have an expenditure base in Swiss Francs. Did anybody hedge that exposure? Maybe the Bath, Toulon or Saracens owners will pick up the tab?
Perhaps the admin will cost extra (more in the region of 40% if you take the drop in € into it also), but if they can keep the money out of Switzerland (with it's silly currency rate & negative interest rate) it wouldn't be too bad.
I would be willing to offer the use of my current account for such an enterprise, of course I would charge a very minor fee- but that would be negligible in comparison to what they would lose in bringing the money the Switzerland.
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Daniel Sullivan
Daniel Sullivan
Re: EERC Cost Rise
Fixed!Peg Leg wrote:Never thought of that!
Perhaps the admin will cost extra (more in the region of 40% if you take the drop in € into it also), but if they can keep the money out of Switzerland (with it's silly currency rate & negative interest rate) it wouldn't be too bad.
I would be willing to offer the use of my current account for such an enterprise, of course I would charge a very minor fee- but that would be negligible in comparison to what they could lose in bringing the money the Switzerland.
Otherwise it's false advertising
Ruddock's tackle stats consistently too low for me to be taken seriously as a Six Nations blindside..... Ruddock's defensive stats don't stack up. - All Blacks Nil, Jan 15th, 2014
England A 8 - 14 Ireland A, 25th Jan 2014
Ruddock(c) 19/2 Tackles
England A 8 - 14 Ireland A, 25th Jan 2014
Ruddock(c) 19/2 Tackles
Re: EERC Cost Rise
Have they anyone working over there or are the staff still in Dublin ?Ruckedtobits wrote:The decision to move the European Champions Cup Rugby to Switzerland doesn't look so bright now, except for those ERC staff who agreed to move over who have just received an effective pay rise of c. 20%.
The competitions' income is generated in Stg£ and Euro but they now have an expenditure base in Swiss Francs. Did anybody hedge that exposure? Maybe the Bath, Toulon or Saracens owners will pick up the tab?