Thursday, April 3, 2025
HomeLeague 1League One club withdraws after US investment talks fail

League One club withdraws after US investment talks fail

Cornwall RLFC have withdrawn from Betfred League One just three games into the 2025 season; the club cited financial reasons and the failure of talks with investors based in the USA due to uncertainty across the Atlantic; Cornwall's last game saw them beaten 78-6 by Whitehaven on Sunday

While the focus at the top of rugby league has been the financial malaise affecting Salford Red Devils, the lowest rung of the professional game has seen one club pull out mid-season for the same reason.

Cornwall announced on Wednesday they would be withdrawing from Betfred League One with immediate effect, citing the collapse of talks with potential overseas investors which was blamed on turmoil across the Atlantic.

The Choughs were only taken over by Cornish businessman Ken Stone, who had previously been coaching in the USA, in November and insisted they were left with no other choice but to immediately withdraw from the third tier.

“The club’s current ownership group, who gained control of Cornwall RLFC back in November, immediately sought further investment to try and stabilise the club and to grow the game of rugby league in the Duchy, through a professional club,” a statement from the club read.

“Significant progress was made with potential overseas investors to achieve this although sadly, due the current uncertainties in the United States of America, this has not been possible. 

“The club have subsequently explored other avenues to secure required funding, but these have been extensively exhausted, leaving Cornwall RLFC with no option other than to withdraw immediately.”

The history of the Cornwall professional club, based at Penryn’s Memorial Ground, can be traced back to the Hemel Stags team which entered League One in 2013.

The Stags’ licence was purchased by Toronto Wolfpack founder Eric Perez when the Hertfordshire outfit withdrew from the professional game in 2018, with Perez intending to launch a second Canadian team called Ottawa Aces.

Those plans were derailed by the Covid-19 pandemic, leading to the launch of Cornwall for the 2022 campaign.

The Choughs finished eighth in League One in 2024, with three wins, and were sitting seventh in the competition with one win from three games this season prior to their withdrawal – a record which is likely to be expunged from the now 10-team competition.

Their most recent game saw them beaten 78-6 at home to Whitehaven after the Cumbrians had made a nearly 1,000-mile round trip for the match.

Cornwall RLFC have informed the RFL of their immediate withdrawal from Betfred League One for financial reasons,” a statement from governing body the RFL read.

“The RFL has contacted the other 10 League One clubs this morning recognising the importance of providing clarity in terms of how the withdrawal will be handled, regarding the validity of previous results, and the impact on the fixture list.”

Meanwhile, Cornwall’s scheduled opponents for this Sunday, North Wales Crusaders, extended the offer for the club’s affected players to attend a trial in Chester on Friday.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments