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Report reveals Premiership clubs' £300million debt in six years
By PA
England’s top-flight clubs have accumulated a combined debt of £300million in six years, according to an investigation into the precarious financial position of the Gallagher Premiership. Wasps and Worcester have been placed into administration already this season - the Warriors are still seeking new owners - and a report in the Daily Telegraph has suggested that other teams are struggling, naming London Irish and Harlequins individually.
The £300m total excludes the £200m investment for a 27 per cent share from CVC Capital Partners in 2018. The private equity firm took out a £27.5m dividend for the last two financial years.
The Premiership debt investigation by private equity director Mike Ryan described London Irish as “high risk” because of their low turnover, while Harlequins are of concern after borrowing £48m in 2021. “The club structure has historically been on an unsustainable footing. It has never made a profit,” Ryan told the Daily Telegraph.
“At the moment, this is heading for disaster. I would like to see the fiscal-year 2022 numbers to be more comfortable with the call, but I would be surprised if they were any better than FY19 [financial year 2019]. The overall competition is still losing money.
“It is professional on the field and semi-professional at best off the field. That is the biggest problem that rugby is facing globally, in my view.”
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Latest Comments
It certainly needs to be cherished. Despite Nick (and you) highlighting their usefulness for teams like Australia (and obviously those in France they find form with) I (mention it general in those articles) say that I fear the game is just not setup in Aus and NZ to appreciate nor maximise their strengths. The French game should continue to be the destination of the biggest and most gifted athletes but it might improve elsewhere too.
I just have an idea it needs a whole team focus to make work. I also have an idea what the opposite applies with players in general. I feel like French backs and halves can be very small and quick, were as here everyone is made to fit in a model physique. Louis was some 10 and 20 kg smaller that his opposition and we just do not have that time of player in our game anymore. I'm dying out for a fast wing to appear on the All Blacks radar.
But I, and my thoughts on body size in particular, could be part of the same indoctrination that goes on with player physiques by the establishment in my parts (country).
Go to commentsHis best years were 2018 and he wasn't good enough to win the World Cup in 2023! (Although he was voted as the best player in the world in 2023)
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