Double-winning boss Rob Baxter has given his reaction to the £2.26million loss posted by Exeter
Exeter coach Rob Baxter has played down the revelation that his double-winning Chiefs reported a pre-tax loss of £2.26million for the financial year ending on June 30 last year, a result that contrasted vividly with the previous year’s £24.75m profit.
Prior to the influx of £14.1m for the Gallagher Premiership selling a stake in the league to CVC for £200m in December 2018, Exeter were the only top-flight club in England to consistently turn a profit.
However, the pandemic has hugely impacted their latest set of results, the Chiefs not playing any matches from March last year through to the end of June accounting sign-off date. This absence of matchday revenue contributed hugely to a £4.73m fall in turnover compared to the previous financial year.
Baxter, though, has played down its significance. Aside from being the coach that led the club to Premiership and European glory last October, a period not included in the latest financial report, he is also a director at the club and he believes that ongoing developments such as the building of a hotel at Sandy Park and a new stand at the ground should generate a serious uplift if the stadium is fully reopened to fans by the start of the 2021/22 season.
“In the current climate it’s not as worrying as it would be,” said Baxter, reacting to the cash losses at the club where the pandemic shutdown resulted in Exeter missing out on staging four home Premiership matches, a Premiership semi-final and two knockout Champions Cup matches with fans present, all fixtures that were eventually played behind closed doors when the 2019/20 season resumed last August.
Being told he wouldn't make it as a scrumhalf was one of a number of incidents that motivated @ExeterChiefs Jack Maunder's career, but they've opened up a world beyond rugby and have resulted in a best selling book
– writes @heagneyl ???https://t.co/o65wxHHqFP
— RugbyPass (@RugbyPass) April 4, 2021
“There is no point saying any different – to be losing any money in a business is a worry. To lose that amount of money is significant. Having said that, in the current climate it’s probably pretty good. We have lost out having zero crowds, zero bar takings, reduced funding in other areas so there is an answer for it and as long as there is an answer for it you can deal with it.
“We are now on an improving picture over the next few months regarding Covid and this plan of stepping out of it towards sport and hospitality starting again. Sport and hospitality are our main business here, that is how we make our money. On the positive side, the hotel has moved along in a period where it wouldn’t have been able to make money.
“We’re moving on with some of the East Stand development in a period when we wouldn’t be able to make money, so some of those costs and spending etc, they are what they are. They are things we decided to do anyway and they have accelerated because of the situation. They [the losses] are worrying but they would be worrying if they become an ongoing issue rather than a one-off.
“If by the time next season starts we are at full capacity, the argument for the effect (of the pandemic) on sport longer term is relatively small. What will affect it is how long the scenario we are currently in continues. I can’t tell you that because that is the underlying factor that is going to make the difference.
“For us, if we get back to full capacity we will look to be a progressive club, we will be playing to the salary cap and probably in three years’ time, when the old salary cap is due to come back in, we will be one of the teams who will have an expectation to start paying the salary cap again.”
Looking ahead to this weekend’s behind closed doors Champions Cup quarter-final at home to Leinster, Baxter reported an encouraging injury outlook following last Saturday’s round of 16 win by Exeter over Lyon. “Very good, everyone has come through from the weekend.
“If anything we looked in need of the game time together which is great. Now we are in that stage with Jack Nowell’s recovery we have got the reins on him, we are holding him back but he is there or thereabouts as well. Alex Cuthbert is progressing well after some kind of different treatment. Things are looking pretty progressive with him, so we are currently looking on the improving side of the picture at the moment.”
Baxter, though, won’t be picking Nowell. “He would say yes (he is ready). I would say history says we would be letting him go out there and potentially hurt himself again. I would say no but that is how close he is.”
Ryan has been absent since a March 14 blow with Ireland, with Doris off-limits since January #EXEvLEI #HeinekenChampionsCup
https://t.co/692G5XAYvJ— RugbyPass (@RugbyPass) April 6, 2021
Comments on RugbyPass
Very unlikely the Bulls will beat Leinster in Dublin. It would be different in Pretoria.
1 Go to commentsI think it is a dangerous path to go down to ban a player for the same period that a player they injured takes to recover. Players would be afraid to tackle anyone. I once tackled my best friend at school in a practice match and sprained his ankle. I paid for it by having to play fly-half instead of full-back for the rest of that season’s fixtures.
5 Go to commentsJust such a genuine good bloke…and probably the best all round player in his generation. Good guys do come first sometimes and he handled the W.Cup loss with great attitude.
2 Go to commentsWord in France is that he’s on the radar of a few Top14 clubs.
2 Go to commentsGet blocking Travis, this guy has styles and he’s gonna make a swift impact…!
1 Go to commentsWhat remorse? She claimed that her dangerous tackle wasn’t worthy of a red! She should be compensating the injured player for loss of earnings at the minimum. Her ban should include the recovery time of the injured player as well as the paltry 3 match ban.
5 Go to commentsArdie is a legend. Finished and klaar. Two things: “Yeah, yeah, I have had a few conversations with Razor just around feedback on my game and what I am doing well, what I need to improve on or work-ons. It’s kind of been minimal, mate, but it’s all that I need over here in terms of how to be better, how to get better and what I am doing well.” I hope he’s downplaying it - and that it’s not that “minimal”. The amount of communication and behind the scenes preparation the Bok coaches put into players - Rassie and co would be all over Ardie and being clear on what is expected of him. This stands out for me as something teams should really be looking at in terms of the boks success from a coaching point of view. And was surprised by the comment - “minimal”. In terms of the “debate” around Ireland and South Africa. Nice one Ardie. Indeed. There’s no debate.
2 Go to commentsThere’s a bit of depth there but realistically Australian players have a long way to go to now catch up. The game is moving on fast and Australia are falling behind. Australian sides still don’t priories the breakdown like they should, it’s a non-negotiable if you want to compete on the international stage. That goes for forwards and backs. The Australian team could have a back row that could make a difference but the problem is they don’t have a tight five that can do the business. Tupou is limited in defence, overweight and unfit and the locks are a long way from international standard. Frost is soft and Salakai-Loto is too small so that means they need a Valentini at 8 who has to do the hard graft so limits the effectiveness of the backrow. Schmidt really needs to get a hard working, tough tight 5 if he wants to get this team firing.
3 Go to commentsSorry Morgan you must have been the “go to for a quote” ex player this week. Its rnd 6 and there is plenty of time to cement a starting 15 and finishing 8 so I have no such concerns.
2 Go to commentsGreat read. I wish you had done this article on the ROAR.
2 Go to commentsThe current AB coaching team is basically the Crusaders so it smacks of wanting their familiar leaders around. This is not a good look for the future of the ABs or the younger players in Super working their way up the player ladder. Razor is touted as innovative, forward looking but his early moves look like insecurity and insular, provincial thinking. He is the AB's coach not the Golden Oldies.
10 Go to commentsSimple reason for wanting him back. Robertson wants him as captain. Otherwise he wouldn’t be bothering chasing him. Not enough reason to come back just to mentor.
10 Go to commentsI had not considered this topic like this at all, brilliant read. I had been looking at his record at the Waratahs and thought it odd the Crusaders appointed him, then couple that with all that experience and talent departing and boom. They’ve got some great talent developing though, and in all honesty I don’t think anyone would be over confident taking them on in a playoff match, no matter how poor the first half of their season was. I think they can pull a game out of their ass when it counts.
2 Go to commentsNot a bad list but not Porecki and not Donaldson. Not because they are Tahs, or Ex Tahs, they are just not good enough. Edmed should be ahead. Far more potential. Wilson should be 8 and Valentini 6. Wilson needs to be told by his father and his coach, stop bloody running in to brick wall defence. You’re not playing under the genius Thorn any more. He’s a fantastic angle runner. The young new 8 from the Brumbies looks really good too. The Lonegrans are just too small for international rugby as is Paisami, as is Hamish Stewart at 12. Both great at Super Rugby level. Stewart could have been a great 10 if not for Brad Thorn. Uru should be there and so should Tupou. Tupou just needs good Australian coaching which he hasn’t been getting. I don’t think Schmidt will excite him.
3 Go to commentsIf he wants to come back then he should. He will be a major asset to the younger locks and could easily be played as an impact player off the bench coming on in the last 30. He is fit, strong and capable and has all the experience to make up for any loss in physical prowess. He could also be brought back with a view to coaching within the structures one day. Duane Vermeulen played until he was 37 or 38. He is now a roaming coach within the South African coaching structures. He was valuable in the last world cup and has been a major influence on Jasper Wiese and other young players which has helped and accelerated their development and growth. Whitelock could do the exact same thing for NZ
10 Go to commentsBrett Excellent words… finally someone (other than DC) has noted that Hanigan is very hard and very good at doing what Backrow should do… his performance via the Drua sauna was quite daunting for those on the other side… very high tackle count… carries with good end result… constant threat to make a good 20-25 meters with those long legs… providing his mass effectively to crunching the Drua pack… Finally he is returning to quality form… way to much injury time over the last 2 years… smart-strong-competent in his skills… caught every lineout throw aimed at him and delivered clean pass to whoever was down below… and he worked hard for the whole 80 minutes… Ned has to be in the top 5 for backrow honors… He knows what is required as he has been there before…
20 Go to commentsI think Sam Whitelock should not touch a return with a bargepole. He went out on a high, playing in the RWC Final. He would be coming back into a team that will be weaker than last years, and might even be struggling to win games, especially against the Boks. Stay in France, enjoy another year with Pau, playing alongside his brother.
10 Go to commentsRyan Coxon has been very impressive considering he was signed by WF as injury cover whilst Uru has been a standout for QR, surprised neither of those mentioned
3 Go to commentsIt’s the massive value he brings with regard team culture/values, preparation, etc. Can’t buy that. I’m hoping to see the young locks get their chance in the big games though.
10 Go to commentsAll good, Gregor, except that you neglected to mention Sam Darry amongst that talented pool of locks. In fact, given Hannah’s inexperience and the fact that Holland won’t be eligible until next year, Lord and Darry might be the frontrunners this year, to join Barrett, Tuipoluto, Va’ii and possibly Whitelock. In fact there might be room for all of them if Barrett played 6 (like Ollie Chessum).
10 Go to comments