Rugby International Marketing (RIM), insolvency was advoidable —
In June 2017 when the inaugural meeting of the Rugby Executives Business Association (REBA) was held in San Diego the financial health of USARugby and Rugby International Marketing (RIM) was clouded in contempt and personal confrontation. The aloof Chairman of USARugby and his RIM counterparts were indignant that they had saved USARugby from previous financial disasters and they were above questioning from those convened especially about the futility of The Rugby Channel and its profound ingestion of cash reserves. It’s almost a year later and the situation is now desperate. USARugby as the 75% shareholder of RIM had plenty of opportunity to take corrective and effective action, yet it didn’t.
Having been involved in a number of turnarounds over the years it still amazes me how many company executives just tighten their seat belts prepare for a crash landing instead taking more evasive action and seeking alternative landing strips. The postmortem will be interesting, nonetheless sad. Will it be a case well intentioned non-profit leadership starry eyed by high powered resumes and influential people? Time will tell. As the 75% shareholder USARugby is very much complicate.