WORCESTER Warriors have been handed a funding boost of almost a quarter-of-a-million pounds ahead of their forthcoming Aviva Premiership return — thanks to the successful Sixways academy.
A new scheme introduced by Premiership Rugby for the forthcoming season will see Warriors rewarded with money to spend above and beyond the £4million salary cap, allowing them the funds to try and recruit a new number eight.
While the salary cap has been set at £4million for the last three seasons, the 2011/12 campaign will see the introduction of ‘academy credits’, which will allow clubs to benefit from including home-grown talent in their senior squads.
Clubs will get a credit in the salary cap of £30,000 per home-grown player in their squad, up to a maximum of eight, which represents an increase in the cap of more than six per cent on last year.
Therefore, as Warriors have more than eight academy-produced players in their set-up, including England U20 international Matt Kvesic, they will be entitled to spend the full £240,00 above the salary cap if necessary.
The idea behind the initiative is to help recognise the quality of players now coming through the academies, assist the clubs to retain their best youngsters and give the players early opportunities for Aviva Premiership rugby.
In 2012/13, the salary cap will increase to £4.26m, rising to £4.5m with the continuation of the academy credits scheme.
Mark McCafferty, chief executive of Premiership Rugby said: “Looking forward, the continuing success of our expansion strategy to 2015 will depend significantly on our development of playing talent to world-class levels, our retention of that talent in England and the continued attraction of some of the world’s best players.
“This combination will add significantly to the attraction of our competition to supporters, viewers and partners. Our successful growth will also continue to depend on striking the right balance between the investment in playing talent and the continued long-term financial stability of clubs.”
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