The Director of Neath Rugby Limited, Mike Cuddy, has asked for the following personal statement to be published:
STATEMENT ON JARDINE NORTON CLAIM
Neath Rugby Limited today moved to correct misreporting on the July 2018 loan to Mike Cuddy from Jardine Norton.
It has been claimed on social and other media, that the rugby club had been offered as security by its Directors in respect of a £1m loan to Cuddy Group.
This is absolutely not the case. The disputed claim from Jardine Norton amounts to an original £20k loan, taken out to fund one months wages earlier this year.
The loan is now the subject of a contested £30k claim against the club, with the sum due having risen due to disputed charges and interest.