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Introducing the top 15 English club actually making a profit
By Jon Newcombe
With Cardiff going into administration earlier in the week, club rugby’s financial problems were brought to the fore once again.
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No sooner was Worcester’s return from the abyss announced, giving the game a much-needed boost, than the dark clouds returned as the troubling news from the Welsh capital came to light.
Having seen Wasps, Worcester, London Irish, and Jersey Reds go under in the space of 12 months, and now Cardiff, one of the powerhouses of the game on the brink of going to the wall, the sustainability of professional rugby is under scrutiny like never before.
The recent accounts of Bath Rugby and Gloucester Rugby also highlighted how the sums simply do not add up, the two West Country giants, who meet in the EPCR Challenge Cup quarter-finals on Sunday, made a combined loss of £6.5 million for the financial year 2023-24.
Bedford Blues as a club had their own financial problems at the start of professionalism. However, ever since local businessman Geoff Irvine rescued the club from the brink at the turn of the millennium after Frank Warren pulled his investment out, they have largely been a model of sustainability, only spending within their means.
Their ambition has been questioned as a result of not trying to buy their way into the Premiership, but if you asked fans of all the above clubs, would they rather have a team consistently fighting at the top end of the Championship, playing entertaining rugby, they would probably bite your hand off.
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Run as a part-time professional operation, the Blues posted a profit, a very modest one but still a profit, of £2,731 for the last financial year, on a turnover of £2.7 million.
“There’s no secret formula. We work very hard to maximise all of our revenue opportunities – we sweat every asset available to us – and we try and put on the most enjoyable matchday experience on and off the pitch,” said Blues Chief Operating Officer Gareth Alred.
“We have a set of values that we all buy into and live by, and sustainability is one of those values.
“We live within our means. Sometimes we get frustrated by the criticism that is sometimes levelled at us, that we are not ambitious. We are ambitious but we won’t risk our club for it.
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“Throughout my tenure, we have had good leadership, we have consistency in that people tend to stay in Bedford a long time – David Gunner our chairman has been there from the very start (of the Irvine-led takeover), Mike Rayer (DoR) will be celebrating his 20th season next year and I’ve been here for 10 years – and ultimately, for us, we have a rugby-loving community that loves coming to Goldington Road. We enjoyed record attendances, averaging over 3,000 per game for the first time for the 2023/24 season.”
Despite the pressures of Covid, the cost of living crisis, and a reduction in annual central funding of circa half a million pounds, the Blues have been profitable as a business in each of the last eight years except 2022, when they lost £49,000.
“From a central funding position and Covid, the cuts and the pandemic were extremely challenging. But we managed to hit a bit of a reset, and we managed to resource those losses through new business ourselves,” Alred pointed out.
“Obviously, we are very hopeful that central support (direct funding is worth circa £170,000/year) can reach previous levels; it would enable further growth for all the clubs in the league.
“But we have worked really hard to replace that revenue and have a model that isn’t reliant on any individual line, and that includes central revenue, and are very stringent in our budgeting.
“We do budget for the challenges that an old ground like Goldington Road might present, and we have a reserve plan around what may crop up. However, at times, we need the support of our members and fans, and we are very lucky that our community gets behind us.”
One thing money can’t buy is Bedford’s history, and former players will gather at Goldington Road this Saturday for the Championship clash against Nottingham to celebrate the 50th anniversary of the 1975 RFU Knockout Cup win over Rosslyn Park and the 20th anniversary of the thrilling 2005 Powergen Shield win over Plymouth Albion.
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Where are the other 14 clubs mentioned in the title?
I was looking for the other 14 as well ! I note the explanation, but surely change the heading to top 15 club singular ? Or is it a sub editors idea of clickbait ?
It’s about a club that is ranked in the top 15 clubs in England based on league position. I'm Sorry if it was misleading. Not my intention