STATEMENT: Premiership Rugby losses double in the last 12 months

Wednesday, 05 April 2023 at 08:15

bySteven Smith

Premiership Rugby's losses have nearly doubled to £36 million in the past year, according to accounts published by Companies House.

This is indicative of the economic turbulence being experienced by English rugby.

The company's total equity has also fallen by more than half, from over £96 million to £43 million.

This season, two of Premiership Rugby's clubs, Worcester Warriors and Wasps, have gone under, which has been criticized by the Department for Digital, Culture, Media and Sport Committee as a "stain on the reputation" of the sport's stakeholders.

Additionally, Premiership Rugby has been criticized by MPs for their "complacent belief" that the sport's financial problems can be solved through collaboration and increasing central revenues, despite clubs losing an average of around £4 million per year.

London Irish, who have debts of over £30 million, are on the brink of collapse but are hoping to be saved by an American consortium's takeover bid, which has yet to be confirmed by the Rugby Football Union as of Tuesday.

PREMIERSHIP CLUBS RANKED BY DEBT:

#11. Exeter Chiefs - £13m

Rob Baxter, Director of Rugby of Exeter Chiefs speaks to the media during the Gallagher Premiership Rugby Match between Bristol Bears and Exeter Chiefs at Ashton Gate on 20 May. Photo: Tom Sandberg/PPAUK

#10. Northampton Saints - £26.5m

A London Irish supporter during the Gallagher Premiership rugby match between London Irish and Northampton Saints at The Brentford Community Stadium, Brentford, London on March 25 2022. - PHOTO: James Fearn/PPAUK

#9. Gloucester £27.1m

Jonny May of Gloucester Rugby during the Gallagher Premiership Rugby Match between Gloucester Rugby and Harlequins at Kingsholm on 17 February. Photo: Tom Sandberg/PPAUK

#8. Leicester Tigers - £30.1m

Freddie Steward of Leicester Tigers during the Gallagher Premiership Rugby Semi Final Match between Leicester Tigers and Northampton Saints at Mattioli Woods Welford Road on 11 June. Photo: Tom Sandberg/PPAUK

#7. Sale Sharks - £30.9m

#6. Newcastle Falcons - £32m

#5. Harlequins - £33.7m

Harlequins player Marcus Smith during the Gallagher Premiership rugby game between Leicester Tigers and Harlequins at Mattioli Woods Welford Road on Dec 5th - PHOTO: Steve Bond/PPAUK

#4. London Irish - £37.3m

Tom Pearson of London Irish during the Gallagher Premiership match between London Irish and Northampton Saints at The Gtech Community Stadium, London on 25 March 2023 (Photo: Danny Loo/PPAUK)