Exeter Chiefs Record £2.26m Loss
By Osmium
April 8 2021
Exeter Chiefs Record £2.26m Loss Owing to Impact of Covid Pandemic This is for the FY ending June 2020, so after less than 3 months of games behind closed doors. FY 20/21 will look grim indeed.
From BBC website:
Premiership and European champions Exeter have recorded a pre-tax loss of £2.26m after being "significantly impacted" by the Covid-19 pandemic.
The club's financial results for the year to June 2020 compared to a £24.75m profit in the previous year.
Turnover fell by £4.73m due mainly to the pandemic's effects, which saw the club not play any games after March.
The figures do not cover earnings from winning the Premiership or Champions Cup, which happened after 30 June.
Exeter's 2019 profit was helped by £14.1m from their share of CVC Capital Partner's £200m acquisition of a stake in Premiership Rugby in December 2018.
Continues here: Exeter Chiefs record £2.26m loss owing to impact of Covid pandemic - BBC Sport
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The nod has been given to some very large capital projects, the hotel which I believe the finances had been allocated grows at a great pace, and will be a brilliant revenue string a few years down the line.
But bringing forward the East Terrace development, does show we are thought to be financially strong at our core. The extra money from seats and the capacity increase will get us back in the black within a few seasons.
The future is bright, and we are starting to get a stadium built in the usual Chiefs way of when we can afford it we will build.
We can be very proud of OUR Chiefs, the team and those doing so well in building the support for that team, in the not to distant future, I can see the completed stadium being a great asset to a great team, all our own work.