Premiership Rugby clubs post losses of almost £25m for 2022-23 season

Premiership Rugby clubs post losses of almost £25m for 2022-23 season

Nine of 10 Gallagher Premiership clubs have posted financial losses which total almost £25 million for the 2022-23 season.

Newcastle Falcons have yet to publicly post their results for the last financial year but of the data available, nine clubs cumulatively made a loss of around £23.5 million.

Saracens posted the biggest loss at £5,295,310, with the club’s turnover of £23,206,354 falling well short of their £28,559,147 budget.

Bristol Bears, backed by the billionaire Steve Lansdown, finished with a total loss of £4,554,814. Harlequins posted the highest turnover, £26,813,85, but had the largest budget at £30,392,791, resulting in a loss of £3,648.893.

Gloucester produced the best results due to having a budget of £18,291,675, which was marginally higher than the club’s turnover of £18,162,660, making an eventual loss of £393,079. Two other clubs produced losses which were below the half a million figure, with Sale making a £439,294 loss and Northampton a £467,836 loss.

Sale notably had the lowest turnover, £11,735,339, but also the lowest budget of £16,496,292. They were also one of only two clubs, along with fellow Premiership finalists Saracens, to produce a positive net financing costs figure of £258,953.

The results also disclose the number of people employed by each club, with Exeter recording the highest figure of 354 of which 156 were coaches and players. Bristol employed the fewest number of people (155) and number of players and staff (87).

Exeter’s financial results, with a loss of £3,994,469, included the hotel built on site at Sandy Park, which made a loss of £2 million over the course of the financial year. The hotel has since been sold off, with Exeter’s chairman and chief executive, Tony Rowe, buying an undisclosed stake in the Sandy Park Hotel back in December 2022 to help pay off the club’s Covid loans.

Exeter said at the time: “The fee paid for the shares by Mr Rowe not only provides an injection of capital to keep cashflow going, but will also help service substantial debts accrued by Exeter Rugby Club due to the impact of the Covid pandemic in 2020. Directors will use “their best endeavours” to retain “at least” 26 per cent shareholding in the hotel company.”

Premiership Rugby has been contacted for comment.

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