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
#10. Northampton Saints – £26.5m
#9. Gloucester £27.1m
