If fans are not allowed in stadiums clubs could go bust, says Exeter chairman
LONDON (UK) – Exeter Chiefs Chairman Tony Rowe has warned that if fans are not allowed to enter stadiums by the end of the year, English Premiership Clubs could go bankrupt.
Although the Premiership, which was suspended in March, resumes later this month, fans will not be allowed in stadiums as part of efforts to stem the spread of the pandemic.
Rowe said that the club, which was one of the few to consistently post profits for the past few years, is losing more than 1 million pounds each month because of the crisis.
“I don’t think the rugby fraternity realise how much clubs are losing,” he told British media. “We still have to maintain all the infrastructure, as well as the playing side, so it’s been incredibly difficult.
“Most of the clubs will have worked out how long they can survive but, if we can’t get some decent revenue coming in by the new year, we’ve got serious problems.
“At Exeter … we’re fortunate we’ve been able to lean back on some of our assets to help raise the funds we need to keep going, but I do fear for some of the other clubs.”
He said the loss of matchday revenue has hit clubs hard.
“Central funding is made up of TV, league sponsors and RFU money. However, the bigger money comes from bums on seats and if we can’t get spectators into the stadium, we’re all going to be in trouble,” he added.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field