The startling losses by Premiership clubs laid bare
A stark report in The Guardian had laid bare the precarious finances of clubs in the English Premiership.
The UK newspaper claims Premiership clubs lost nearly £50million between them in the last financial year with only the leaders, Exeter, recording a profit. Worcester, who came under new ownership earlier in the season, are not included as they were late in filing their accounts with Companies House.
The eye-watering list includes London Irish, the Championship leaders, who are part of the 13-strong Premiership Rugby. The relegated Exiles lost £10.52m in the year to June 2018, more than any other club.
Wasps, whose £32.8m turnover was more than £10m greater than the next highest (Harlequins), lost £9.7m while promoted Bristol lost £7.2m.
The losses of every club were greater than the year before, when Exeter were also the only ones in the black: the Chiefs increased their turnover by more than £3m and recorded a profit of £533,000.
Only Exeter in the black as Premiership Rugby racks up £50m in losses https://t.co/PG7psMLj0u
— Guardian sport (@guardian_sport) April 8, 2019
The champions, Saracens, lost nearly £4m, although £48m in loans to the parent company by their owner, Nigel Wray, have been turned into equity and taken off the balance sheet.
According to The Guardian, only three clubs suffered a drop in turnover (London Irish did not reveal theirs): Bristol, who had been relegated, Wasps, who were down £165,000, and Gloucester, who were £544,000 worse off, largely through a fall in concert income.
Sale’s turnover increased by £89,000 and they were the only one of the regulars in the Premiership with a turnover of less than £10m, down to the club not owning its ground.
? YOUR #GallagherPrem Table ?
It just gets harder and harder to call…?
Anyone's guess how it will end ? 4th down to 8th ?
And Still EXCRUCIATINGLY close at the foot of the table ?
Make a bold prediction about one team ???? pic.twitter.com/Xqcwe4LVZ5
— Premiership Rugby (@premrugby) April 7, 2019
Newcastle lost more than £4.2m and the club closest to Exeter were Leicester, the best supported team in the Premiership, whose loss was £1.18m, up £290,000 on the previous year. Sale were the only other side with losses below £2m (£1.8m).
These figures were a significant reason why the clubs this season collectively agreed to sell a 27% share in Premiership Rugby to the private equity firm CVC in a deal worth £200m.
Each club will reportedly receive £13.5m as part of a sum paid up front by CVC, money that has been earmarked for infrastructure improvements, although some of it is likely to be used to reduce debt.
Comments on RugbyPass
$950k for a Prop that isn’t fit enough to play 10 mins of rugby? Surely there is someone better to replace Big Mike with
2 Go to commentsFour Kiwis in that backline. A solid statement on the lack of invention, risk-taking and joy in the NH game; game of attrition and head- banging tedium. Longterm medical problems aplenty in the future!
1 Go to commentsGood article, I learnt quite a lot. A big sliding door moment was in the mid 00s when they rejected Steve Anderson's long term transformation and he wrote Ireland's strategy instead.
2 Go to commentsHi Dr Nick! I'm worried that I've started to enjoy watching England and have actually wanted them to win their last two games. What would you prescribe? On a more serious note, I've noticed that the standard of play in March is often better than early February. Do you think this is because of the weather or because the players have been together for longer?
10 Go to commentsMy question in all this brett is who is going to wear the consequences of these actions? Surely just getting the sack isn’t sufficient? A teenager working the till at woolies would probably get taken to court if they took $20 out of the till. You mean to tell me that someone can spend $2.6 million and get away with it? Where was it spent? What companies/people were the beneficiaries etc? How is it just being talked about as an ‘oopsie’ and we all just move on and not a matter of the court for gross negligence, fraud, take your pick…
18 Go to commentslove Manu too but England have relied on him coming back from injury for far too long and not sorted the position with someone else long term . It will be a blessing he has gone . Huge shame he was so injury prone . God speed Manu .
3 Go to commentsI agree with Ben Smith about Brett Cameron. The No. 6 position has to be a monster and a genuine lineout option, like Ollivon, Lawes (now Chessum), Du Toit, etc. The only player who fits that bill right now is Scott Barrett. A fit and fizzing Tuipolotu together with one of the young towers, Sam Darry or Josh Lord, would give Razor the freedom to play Barret at 6.
16 Go to commentsOutstanding article, Graham. Agree with all of it. And enjoy the style of writing too (particularly Grand Slap!).
2 Go to commentsI wouldn't pay a cent for that loafer. He just stands around, waiting for play to come his way. He won't make the Wallabies.
2 Go to commentsGood bit of te reo maori Nic. Or is that Niko or Nikora? On the theme of trees the Oaks v Totara. Game plan would be key. I have one but it would cost you.
10 Go to comments> Shaun Edwards’ You should not have to score 30 points to win a game, as exciting as it is. This statement was surprising to me. It is nonsensical .I guess it is a defence coach speaking. But head coach, defence and attacking coaches all work together. They are inseparable. You score more than the opposition to win. It only needs to be one score. You score whatever the game demands, whatever the opposition demand. You defend whatever it takes. The attack coach needs to be able to clock up 30pts if need be.
10 Go to commentsWho’d have thought, not having Farrell & Youngs kicking the ball at every possible opportunity and playing flat and allowing your centres to run and pass would pay off? No one could possibly have seen this coming. FML. It took a LONG time coming but at least that time has finally come. England need to find a backup to Lawrence. Freeman is the best candidate for me, I see no reason why he can't play 12. He's big, strong, fast and has great hands.
10 Go to commentsLove Manu but he's not the player he was and I imagine Bayonne have paid too much money for him.
3 Go to commentsNew Zealand have not beaten England since 2018 and even that was a pretty close shave.
1 Go to comments“a renewed focus on Scottish-qualified players” Scottish-qualified is another way of saying English. England has development more players for the Scotland national Rugby team in the last 4 years, than Scotland has.
2 Go to commentsThis sounds a lot like the old Welsh rugby proverb “Wales never lose. Other teams just score more points.”
5 Go to commentsFinally,at last, Borthwick has done what the whole of England have been crying out for. Ditch the kick chase and let the players have freedom to attack and run with the ball. It was great to see. Ford played really well and for the first time in ages was 5 yards closer to the gainline which then allowed a more attacking position . Pity it has taken 90 odd caps to do so. However, this has to continue and not be a false dawn . One issue. Marcus. With Ford having one really good game in 5 ,is he the answer long term . Smith puts bums on seats and is terrific to watch . How can you leave him out before he departs for France in disillusion . England are in danger of Simmons , Alex Goode , Cipriani , Mercer and now Smith being unable to get a selection ahead of “favourites” of the management regardless of form . Great to see England play so well .
2 Go to commentsCockerill was an abrasive player in the mould of a Georgian front rower who will have the respect of that pack. Looking forward to seeing what he can do with this exciting team, hopefully they can send a message to unions like Wales that money alone doesn't buy you wins.
2 Go to commentsI like the look of those July matches. Hopefully they'll get some good tests in November too.
2 Go to commentsThis is a poor article, essentially just trolling six nations teams
22 Go to comments