Top 14 - Montauban file for bankruptcy

Reuters - Mon, 26 Apr 17:56:00 2010

French rugby club Montauban filed for bankruptcy and will automatically be relegated from the Top 14.

Rémy Martin Bayonne Montauban Top 14 - 0

"We filed for bankruptcy at the commercial court on Monday afternoon after a meeting of the club's board of directors," Penelope Palazy said.

"This means the club will be demoted from the Top 14."

The club from the Toulouse area had already been relegated by the financial watchdog of professional sports on April 1.

They appealed against the decision and have until May 4 to clear the 1.9 million euros (£1.64 million) deficit in their budget this season.

Reuters

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