David Jordan claims that reports of David Hilton and Tommy Hayes leaving Glasgow are premature. Both players are reported to have said they will be playing their rugby elsewhere next season, with Hayes claiming Glasgow's contract offer didn't measure up, while Hilton said he had heard nothing from the Glasgow management.

"We have not formally made that announcement yet. But we are in discussions with a number of players about their futures," said Jordan.

"Until we conclude matters we are not going to make any statements. People have been jumping the gun. Hopefully we will announce something fairly soon," he added.

"Obviously the valuation of media rights has had a huge affect on all sport and rugby's no different," said Jordan.

"As a professional team we rely on most of our money from the Scottish Rugby Union which in turn relies on other funding from the Six Nations Championship. Clearly if there is a downturn in revenues from that source it will inevitably affect ourselves. So clearly we will have to operate with a reduced budget which in turn we will have to look at the size of our squad and the average salaries paid to our squad players and that means adjustments are inevitable."