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Premier Rugby Finances 2017/18

New Stadium

By CoochieCoo
June 11 2019

Here is an update of Premier Rugby finances of the Clubs for the season 2017/18

There has been debate on the MB as to the finances of Premiership Rugby. Here are the figures from the published results of Clubs for the year ending 30 June 2018.


Club Turnover Profit/Loss EBITDA Ave Gate Wages Team Staff Sales and Admin Emp Total
  £'000s £'000s £'000s   £'000s Nos Nos Nos
Exeter 20,472 657 2,328 12,852 12,055 105 248 353
Leicester 20,411 1,178 310 22,879 12,721 78 89 167
Bath 19,806 3,149 1,303 18,527 12,874 86 60 146
Gloucester 15,766 2,183 1,512 13,273 11,712 57 278 335
Northampton 17,127 2,814 1,683 13,104 11,585 89 189 278
Sale 9,334 1,805 1,790 6,274 7,300 71 15 86
London Irish 9,501 2,936 2,559 12,214 8,047 84 19 103
Worcester 12,195 5,755 3,352 8,597 10,731 98 256 354
Newcastle 10,949 4,278 3,617 9,757 9,626 88 389 477
Saracens 17,929 3,887 3,633 19,097 12,612 103 56 159
Wasps 32,827 9,723 4,051 17,641 13,394 52 181 233
Harlequins 22,116 4,928 4,376 18,866 14,227   296 296
Totals 208,433 41,979 25,238 173,079 136,884 911 2076 2987

The Key facts:

  • Turnover including non Rugby is £208m.
  • Results after taxation and interest amounted to a net loss of £42m with only one Club in profit - Exeter
  • The Investment Analyst's preferred measure EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) shows a net loss of £25m with Leicester joining Exeter in profit. The table is in the order of the best performing clubs in EBITDA terms.
  • Harlequins boosted their published result by £4.8m by revaluing their PRL shares. As the other clubs haven't revalued, this has been adjusted in the interests of a level playing field.
  • Saracens past losses funded by loans from Nigel Wray have been waived to the tune of £51m.
  • 1.9m fans attended premier rugby league matches over the season.
  • Total employed by the clubs was nearly 3,000 and players and team staff amounted to 911. This includes coaching and team support staff except, in Gloucester's case where coaching staff etc are in the sales and admin figure. Harlequins do not disclose the split of staff except FT and PT.
  • Thes CVC deal was completed after these accounts and Worcester disclosed that they received £8.2m from them in a post balance sheet event note.
  • Bath disclose that they spend £1m annually putting up and taking down their temporary structures. Bath pay approximately £312k to Bath Recreation Limited for use of the Rec.

Effect of CVC deal with PRL

The deal was that CVC bought 27% of PRL for £210m. This values PRL at about £775m and dividing that between the 13 clubs will be about £60m each. As stated in a note in the accounts, £8.2m was received by Worcester in March 2019 and all clubs will receive a similar payment for infrastructure improvements. However, I understand that it should be in the region of £13m each. 

Results in Graphs


The club with the greatest turnover, Wasps, makes the largest loss. The third highest turnover is Exeter and that gives them a profit mainly because of income from non rugby and lower overheads. Two clubs disclose they only have Rugby Income - Bath and Sale. Harlequins do not disclose their non Rugby income.

 Overheads Comp

Here are the overheads with Turnover and EBITDA Where the red line is above the green means a profit and touching is breakeven and green well above red is not so good news. The EBITDA blue line near 0 but not above, means a club needs to increase their income or reduce costs. In our case we spend £1m on our temporary structures and this will be eliminated with a new stadium with extra capacity for revenue to realise Bruce's ambition for the club to be self sustaining.


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Premier Rugby Finances 2017/18
Discussion started by (IP Logged), 15/06/2019 07:37
15/06/2019 07:37
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Edited 1 time(s). Last edit at 2019:06:28:21:48:01 by CoochieCoo.

15/06/2019 11:19
Very interesting (and a bit concerning for the league as a whole) CC, thanks.

[Adoptee 19 / 20: The High ball and counter attack meister, Tom Homer]

Bath Supporter Jack
Bath Supporter Jack
16/06/2019 08:24
Yes very interesting Mr CC.

As an observer........the losses, mostly, are pretty modest.

Saracens losing 3.6m......EBITDa, which currently is being financed 100% by Nigel Wray, represents perhaps 1% of his wealth......I suspect it is even less. The same ratio for Mr Craig would be even less.

How much does one of those 200 foot super yachts cost to run in a year........someone who has got on might like to say!

I wonder if Exeter make a "profit" because Mr Rowe's company SW Communications sponsors with enough to take it into surplus. We do know however that they get a significant amount of non rugby revenue.

When the new set up is in place at the Rec, we can expect an increase in attendance and the capability of earning non rugby income.

I suspect we would then run at a surplus........however just a little matter of the x tens of millions of pounds to get there.......however I have always assumed that Mr Dyson would gift that!

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