 Millennium Stadium debts hang heavy over the WRU |
The Welsh Rugby Union has received a double boost in its continuing battle to service its debt of �60 million. Repayments of loans to British Telecom and Barclays Bank from the building of the Millennium Stadium are set to be rescheduled to ease interest payments.
The Union also has permission from the Millennium Commission to sell part of the naming rights to the stadium.
That would mean that the name of a sponsor would precede the word Millennium in the stadium's title.
"As far as the naming rights are concerned, relations have definitely improved between ourselves and the Millennium Commission," said WRU chairman David Pickering.
"We are in the midst of negotiating a final settlement with Barclays Bank and BT [over refinancing the debt].
"There has been a lot of good will shown by all sides so far in the talks.
"We are confident the hard work put in on this most important of issues will bear fruit."
The Union hope to make a formal announcement on their improved financial outlook before the end of the month.
MMIX
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