The American Rugby Federation declares bankruptcy due to Corona

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The American Rugby Federation announced that its financial problems, which were exacerbated by the outbreak of the new Corona virus, led it to the point of bankruptcy.

In a statement posted on its official website, the federation said it filed for bankruptcy in accordance with Article 11 of the law, which allows financially troubled organizations to reorganize and restructure their debts.

The statement added that the suspension of competitions due to fears of the spread of the Coruna virus resulted in “major losses in revenues from spring and summer membership fees, declining sponsorship and additional revenue sources.”

The bankruptcy registration includes a financial support plan approved by the International Game Federation.

Global sport suffers from almost complete immobility due to the new epidemic of Corona, as it stopped and canceled many tournaments for fear of spreading the virus.

The United States has become the country most affected by the epidemic, with about 164,000 injuries and more than 3,000 deaths.

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