Leicester Tigers鈥 management say they were comfortable with the club鈥檚 latest flat financial results 鈥 saying after a lacklustre season it was no surprise gate revenues were down.
They said hard work from the Welford Road club鈥檚 commercial team had helped offset losses to some extent 鈥 and hoped investment in the squad would push the team up the Premiership table and boost income in the season ahead.
However, having 10 players involved in the Rugby World Cup at the start of the season Premiership season, would not help the start of the 2019-20 campaign.
New results show club revenues were down 拢400,000 in the year to the end of June at 拢20 million.
Income from ticket sales, including season tickets, fell around 10 per cent to 拢4.9 million, and overall the business made an operating loss of 拢1.9 million 鈥 the fifth year in a row it has been in the red.
Average attendances were down 1,500 to 20,162 and season ticket sales were down 500 at around 13,500 鈥 although ticket sales were still significantly more than the average for Premiership Rugby teams.
Club chief executive Simon Cohen felt things would pick up this season, with the club now debt free and actively looking for a new owner who could take it to future success.
He said around 拢13 million of investment coming to Tigers from CVC鈥檚 new 27 per cent stake in Premiership Rugby would start coming in over the next few seasons.
Mr Cohen said: 鈥淚 think we have had a strong commercial performance on the back of the Tigers struggling on the pitch.
鈥淲hat is pleasing is that our support has remained so strong and if we can ensure we are better on the pitch the numbers are poised to take a decent upturn.
鈥淲e have invested heavily in the squad and have brought in Pat Howard [as a mentor to the coaching team] to do a review of the club and come back every month to implement that review which we think will set us off on an upward trajectory.
鈥淏ut we remain conscious that this being a World Cup year, it will be very difficult for us as we will lose a lot of our players 鈥 we are the second biggest provider to the England team with eight players in the current squad.鈥
He said the trading figures would not affect the club鈥檚 quest to find a new owner and said conversations so far had been positive.
He also said plans to build an 拢11 million, 849 space car park next to the club in partnership with Leicester Royal Infirmary were still going ahead, while he anticipated planning permission for a 187 room hotel on the opposite side of the ground was imminent.
He hoped work on both could start in the spring.
Tigers executive chairman Peter Tom CBE said: 鈥淣otwithstanding a disappointing 2018/19 season, the club is in strong financial health, with no net debt and the prospect of enhanced income as a result of CVC鈥檚 initiatives to grow the game.
鈥淲e have invested in new resources to address our performance on the field and look to the new season with optimism.
鈥淥ff the field we are implementing a number of new commercial initiatives, such as dynamic ticketing, together with a number of community programmes that will enable us to capitalise on our brand heritage.
鈥淧remiership Rugby is at a pivotal stage in its commercial development.
鈥淲ith the enhanced attention on the sport that the World Cup in Japan will generate 鈥 with many Tigers players on international duty 鈥 and an ever increasing global presence and fan base, we look to the future with confidence.鈥
