Bath claim 'robust set of results' despite latest financial losses

Bath have reported revenues of nearly £20million in its latest annual financial report and while the Gallagher Premiership still made an unspecified loss, they insist their outlook is robust with numerous plans aimed at eventually making it commercially self-sustaining.

This optimism comes amid a brutal season for top-flight rugby in England, with Worcester and Wasps financially collapsing last October and negative headlines this past week about the state of finances at Newcastle and London Irish.

A statement read: “Bath Rugby has reported revenues of £19.8m in its financial statements for the year ended, June 20, 2022, despite two home games being cancelled due to covid restrictions. This robust set of results is a testament to the passionate and loyal support the club has continued to receive from its fans, sponsors, and corporate partners; and to the hard work of everyone at the club.

“The club is committed to providing its head of rugby Johann van Graan with the resources and facilities required for success on the pitch; this includes exciting new signings Finn Russell and Thomas du Toit who will join the club for the 2023/24 season.

“Whilst the club is currently loss-making and reliant on the financial support of its owner Bruce Craig, everyone at the club is focused on plans to grow the club’s fanbase, to enhance its value to corporate partners and sponsors, to develop the matchday experience, and to become commercially self-sustaining.

“The club’s stadium project team are developing design proposals for world-class stadium facilities at The Rec, following the Supreme Court decision in October 2022 that covenants are not a barrier to the redevelopment of The Rec and will submit a planning application later in 2023. The redevelopment will not only revitalise the riverside, it will also enable the club to create a year-round sporting and community hub for all in the heart of the city.

“Women’s rugby continues to sit at the heart of the club’s plans and while the Bath tender application for entry into the Premier 15s for 2023/24 was unsuccessful, the club is continuing with its women’s rugby summer 7s campaign and focusing on the championship as a stepping-stone towards Premier 15s entry post-2023/24.”

CEO Tarquin McDonald said: “There is much ahead for us all to look forward to. We remain deeply grateful for the ardent support from our fans, sponsors and corporate partners; and for the unwavering support of our owner Bruce Craig.”