Latest news with #MarkRhydderch-Roberts
Business News Wales
01-08-2025
- Business
- Business News Wales
Welsh Fire's £84.6m Valuation Signals Cricket's Welsh Revival
Cricket in Wales is undergoing a remarkable transformation, fuelled by a record-breaking valuation of the Welsh Fire franchise and a renewed sense of ambition from Glamorgan Cricket Club. Welsh Fire, one of the eight city-based teams in The Hundred competition, recently secured a staggering enterprise valuation of £84.6 million, more than double the initial expectations set by the England and Wales Cricket Board (ECB). The figure has exceeded industry forecasts and outpaced more established cricket centres, including Edgbaston, despite Cardiff's smaller population and Glamorgan's more modest commercial footprint. For Glamorgan Cricket Club, the only first-class county in Wales, the valuation is not just a financial milestone, it marks a new era. 'This is a transformational deal for Glamorgan,' said Mark Rhydderch-Roberts, Chair of the Club. 'Without a franchise, we risked becoming an also-ran in the modern cricket landscape. With Welsh Fire, we now have the platform to compete, grow, and put Cardiff and Wales firmly on the global cricket map.' Mark credits Cardiff's growing reputation as a world-class event city, the development potential of Sophia Gardens, and Welsh Fire's status as the only franchise representing a nation as key drivers behind investor interest. 'We always believed in the value of what we had,' he said. 'And now the world is starting to see it too.' Glamorgan's Chief Executive, Dan Cherry, believes the momentum will extend well beyond franchise cricket. 'Our overall vision is to make Wales proud of everything we do, on and off the field,' he said. 'This is a chance to reignite ambition, build pathways for young Welsh players, and start producing international stars once again.' The last Welsh player to represent England was Simon Jones, whose heroics in the 2005 Ashes series remain legendary. Dan hopes the next generation won't have to wait as long. 'We want to see young Welsh boys and girls playing for Welsh Fire, for England, and in franchise competitions around the world. This investment gives us the means to make that a reality.' Everyone associated with the club agrees that the opportunity isn't just about elite performance. It's about building a legacy for the game in Wales, growing participation, improving facilities, and inspiring communities. With financial confidence, renewed cultural relevance, and a clear strategic vision, cricket in Wales is experiencing a genuine revival. Welsh Fire's valuation may have surprised the market, but for those inside Glamorgan, it simply confirmed what they already knew: Welsh cricket's future burns brighter than ever.
Yahoo
23-03-2025
- Business
- Yahoo
Wales' brand has become blurred for investors, adviser says
Wales' image has become "blurred", making it harder to attract foreign investment, according to a Welsh government adviser on the economy. Mark Rhydderch-Roberts, director of the Welsh Industrial Development Advisory Board, said Wales was traditionally "incredibly successful in attracting foreign direct investment" but has seen a reduction in recent years. First Minister Eluned Morgan said growing the economy was her "top priority". The Welsh government is planning to hold an international investment summit in December to attract investors. Hopes for thousands of jobs from investment summit Welsh entrepreneurs abroad 'ready to invest here' Are we selling Wales to the world? "I think currently the image of Wales outside of Wales is quite blurred," said Mr Rhydderch-Roberts. "Is it castles and dragons, is it a centre for investment?" The former investment banker said the nation was currently attracting 3.5% of the UK's Foreign Direct Investment projects, while Scotland was attracting 8.4%. "During the late eighties and nineties we were one of the best in the UK at attracting inward investment," he told BBC Radio Wales' Sunday Supplement. "Since then we've really struggled. I think for all sorts of reasons." Mr Rhydderch-Roberts said some reasons were part of UK wide issues. "Our tax burden is very high, our infrastructure is creaking, our energy costs are the highest in the world," he said. "Those kind of structural factors are pretty much out of the Welsh government's control." Mr Rhydderch-Roberts is also chairman of Glamorgan Cricket which recently sold a 50% stake in Welsh Fire, its Hundred franchise team, in a multimillion pound deal. "One of the things that really resonated with investors... was that Cardiff as a events city is second only to London but, also, the Welsh brand which made us unique among the other seven franchises," he said. Mr Rhydderch-Roberts said Wales as a nation could do more to improve its branding. "What are we selling here in Wales because sometimes our image is rather tarnished by 20 mile an hour speed limits for example," he said, referring to the Welsh government's controversial decision to reduce speed limits across the country. "Those kind of things... the noise in the background... prevents us from looking at the real positives." The Welsh government has confirmed its international investment summit will take place in Newport on 1 December. The first minister told BBC Wales on Friday that she was "looking for billions of pounds of investment to come in and thousands of jobs to be delivered". Welsh Industrial Development Advisory Board
BBC News
23-03-2025
- Business
- BBC News
Wales' brand blurred for investors, adviser says
Wales' image has become "blurred", making it harder to attract foreign investment, according to a Welsh government adviser on the economy. Mark Rhydderch-Roberts, director of the Welsh Industrial Development Advisory Board, said Wales was traditionally "incredibly successful in attracting foreign direct investment" but has seen a reduction in recent Minister Eluned Morgan said growing the economy was her "top priority".The Welsh government is planning to hold an international investment summit in December to attract investors. "I think currently the image of Wales outside of Wales is quite blurred," said Mr Rhydderch-Roberts."Is it castles and dragons, is it a centre for investment?"The former investment banker said the nation was currently attracting 3.5% of the UK's Foreign Direct Investment projects, while Scotland was attracting 8.4%. "During the late eighties and nineties we were one of the best in the UK at attracting inward investment," he told BBC Radio Wales' Sunday Supplement."Since then we've really struggled. I think for all sorts of reasons." 'Infrastructure is creaking' Mr Rhydderch-Roberts said some reasons were part of UK wide issues."Our tax burden is very high, our infrastructure is creaking, our energy costs are the highest in the world," he said. "Those kind of structural factors are pretty much out of the Welsh government's control."Mr Rhydderch-Roberts is also chairman of Glamorgan Cricket which recently sold a 50% stake in Welsh Fire, its Hundred franchise team, in a multimillion pound deal. "One of the things that really resonated with investors... was that Cardiff as a events city is second only to London but, also, the Welsh brand which made us unique among the other seven franchises," he said. Mr Rhydderch-Roberts said Wales as a nation could do more to improve its branding."What are we selling here in Wales because sometimes our image is rather tarnished by 20 mile an hour speed limits for example," he said, referring to the Welsh government's controversial decision to reduce speed limits across the country. "Those kind of things... the noise in the background... prevents us from looking at the real positives."The Welsh government has confirmed its international investment summit will take place in Newport on 1 first minister told BBC Wales on Friday that she was "looking for billions of pounds of investment to come in and thousands of jobs to be delivered".
