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Gloucestershire Business News

Gloucester Rugby records loss, despite rising revenues

Despite a tough year on the field in 2022/23, Gloucester Rugby enjoyed record commercial revenues.

Results just out show the company's turnover for the year ending June 30, 2023 of £18,162,660 (2022 - £17,035,172) but the club once again reported a loss before tax of £543,881 (2022 - £694,537).

The company has net assets of £7,814,725 (2022 - £8,207,804).

The 2022/23 season resulted in the club finishing in tenth position in the Gallagher Premiership after 20 fixtures played, seven wins and 13 losses were recorded finishing with 41 points scored.

The club reached the Round of 16 in the Heineken European Champions Cup, narrowly losing out to the eventual champions, La Rochelle, in a tightly fought contest.

Gloucester are currently in ninth place in the Gallagher Premiership, having lost to Bristol at home on Saturday.

The directors' report for the year ended June 30, 2023 said: "The Premiership season was impacted greatly by the loss of Worcester Warriors and Wasps, who both entered administration in the early part of the 2022/23 season, followed by London Irish at the end of the season.

"The demise of these three teams presented a significant challenge to the club with the loss of match day revenue with fewer Premiership fixtures scheduled at Kingsholm. The club relied heavily on the loyalty and support from all its members, box holders and partners, which proved to be invaluable; a true testament to the community which the club is part of.

"Despite these unforeseen setbacks, the club performed well commercially, achieving a record level of commercial revenue. The ongoing relationship with principal partner, BiGDUG, continued to go from strength to strength as the partnership entered its third year, whilst club memberships increased by 4% from the previous season.

"Conferences and events made a strong return with record levels of revenue reported following the loss of this income during the Coronavirus pandemic."

On the pitch, the club welcomed a number of new signings while long-serving players Ben Morgan and Billy Twelvetrees retired.

The club was devastated to learn of Ed Slater's diagnosis with Motor Neurone Disease (MND) before the start of the season, which ended his rugby playing career. Following Ed's diagnosis a fundraising initiative, '4ED', was created raising over £320,000 by the end of the financial year. The campaign has now officially moved into the Gloucester Rugby Foundation, the club's charity, as a restricted fund to support those affected by MND in the county.

The women's team, Gloucester-Hartpury, had a season to remember, culminating in being crowned league champions, winning the play-off final at Kingsholm against Exeter Chiefs Women in front of a record crowd of almost 10,000 spectators. In October 2023, the club entered into a joint venture with Hartpury University and incorporated Gloucester Hartpury Rugby Ltd, as part of the club's continued support of the women's team.

The Academy continued to grow with 23 academy players making senior appearances within the season, along with five players being called up to the England U20s EPS squad. The development and pathway of academy players remains a key strategic objective for the club as we look to progress more young players into the senior squad.

The work within the community and foundation continued to flourish throughout the year with several schools and clubs benefiting from various projects targeting promoting education, wellbeing and participation through rugby, engaging with thousands of young children and people within Gloucester and the surrounding county.

The community and the Foundation remains committed to supporting communities across the county and to elevate individuals within it by using rugby as a platform to make a positive difference to people's lives.

The club's engagement with fans continued to grow with over 400,000 followers on social media channels, up 18% from the previous season.

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