Newcastle Rugby Post Loss Of £3.9m Last Season

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1 April 2019

Newcastle Falcons rugby club has posted widening losses at the same time as the club fights to remain in the Premiership reports the Newcastle Chronicle .

Newcastle Rugby Limited, which includes the finances of both the Falcons rugby union team and the Newcastle Thunder rugby league team, reported an operating loss of £3.9m for the year ending June 30, 2018. That is an increase on the loss of £2.8m for the previous season.

The loss comes despite Newcastle Falcons reporting increase attendance and revenues at its Kingston Park ground. Turnover during the period grew from £9.7m to £10.9m.

However, the costs at the club continued to increase as its senior management upped investment in the the ground and the clubs’ players.

A spokesman for Newcastle Falcons said: “Long term the club remains committed to operating at a break-even position and enjoying on-field and off-field success. The current losses are in line with expectations and come in a period of increasing turnover and the highest ever attendances in the club’s history.

“The current cost levels are seen by the club as a continuing investment of top-flight rugby in the region, and last season’s highest Premiership position of fourth plus three semi-final appearances are the positive results of this investment.”

The club’s accounts also added that the firm had continued to invest in its infrastructure, playing and coaching staff, and its academy.

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https://www.chroniclelive.co.uk/business/business-news/newcastle-falcons-report-widening-losses-16060850

 

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