Worcester Warriors Face £8.1 Pre-Tax Loss for 2016/17 Season
For Worcester Warriors bad news seems to come in pairs. The club is second to last at the Aviva Rugby Premiership table, and they recently reported a £8.1million loss too. While the 2015/16 season delivered a profit of £14.3million, the Premiership club reported a multi-million loss for the following season.
Worcester Warriors are now struggling both on and off the pitch. From the financial aspect, Warriors have to decrease their outgoings and focus more on benefiting from commercial revenues. Bill Bolsover, the Warriors chairman, commented on the situation. “We recognise that the level of spending seen during the 2016-17 financial year is not sustainable,” Bolsover said.
The £14.3million profit Warriors reported in 2015/16 is likely to be the cause of the club’s current financial situation. As the media speculated earlier, the club owners wrote off £20.4million worth of loans. The reason for this is the unofficial Worcester Warriors decision to sell the club. With the £14.3million profit, the club had better chances of finding investors.
“We have put together a challenging budget to balance costs against income, and we are tracking well against it,” said Bolsover about the team’s plans.
He further explained, “Our commercial performance for the 2017-18 financial year will be far stronger than it was in the previous year and the financial support needed from our shareholders will decrease by around 50 percent, which illustrates that we are making significant improvements financially.”
However, Worcester Warriors, the UK betting apps underdogs, are not the only ones struggling financially. Saracens might be looking for backers too. The club’s co-owner, Johann Rupert decided to sell his 50% stake in the Saracens club. London Irish is looking for investors as well. The Exiles rank at the very bottom of the table with 9 points behind Worcester Warriors.
We’ll see what the future holds for these three Premiership clubs, and of course, keep you updated on the latest events.
More from blog
Celebrate BitStarz’ Birthday and Win a Tesla Model 3!
Everyone’s favorite online casino is baking a cake, popping the champagne, and inviting you to the biggest and best birthday party of the year. BitStarz is getting ready to celebrate its 6th birthday and we’re doing it in style with a promotion that will drive you insane. If you love cars and casino games, you’re […]Read more
Drogba Star-Power Backs Team 10bet
*Please keep in mind that this is a current offer, and it might not be the same in time you read this post. Please check 10bet website for current promotions. Legendary footballer Didier Drogba announced his official partnership with sports- betting industry staple 10bet recently. The former Chelsea superstar and the Ivorian national team captain […]Read more
A dream stopped by a punch, the story of Johnson and McDonnell
Last week marked two amazing bouts, as Callum Johnson fought Artur Beterbiev and Gavin McDonnell fought Daniel Roman. Betting apps blazed as the odds soared on the world title matches. All four, amazing warriors as they are, couldn’t win. Both Johnson and McDonnell lost the fight and lost a chance to win a world title […]Read more