St.Helens announce increased losses for 2023

St.Helens R.F.C. has announced increased losses for the financial year ended 31st October 2023.

Earnings before interest, tax, depreciation and amortisation showed an increased loss from £375,299 in 2022 to £1,319,274 in 2023.

Total revenues fell from £9,275,489 in 2022 to £9,095,180 in 2023.

Chairman Eamonn McManus stated: “Super League clubs are experiencing worsening financial performances principally due to smaller central distributions deriving from reduced Super League broadcasting rights.

“We also incurred a material increase in our cost base due to general inflationary pressures and in particular increased energy costs at our stadium.

“2024 is projected to see a further increase in losses. These will be exacerbated by the commencement in annual repayments in Covid loans which were necessarily taken out during the pandemic years. (Super League clubs were particularly badly hit financially by the pandemic as we were the only professional sport to be affected for two full seasons due to the February commencement date of our season which coincided with the outbreak).

“The Club is exploring and implementing ways to diversify and increase our operational revenue base in order to reduce accumulating losses. The arrangement with Liverpool FC’s Women’s team playing at our stadium is one such example.

“However, real progress can only be made if central distributions in time revert to higher levels. We continue to support RL Commercial and IMG in their endeavours to attain this.

“That said, the Club will continue to spend full salary cap, and to utilise all marquee exemptions in so doing. To do otherwise represents a false economy. However, other less essential costs will necessarily need to be reviewed.

“Our aim is to continue to be a leading and exemplary force in Super League in 2025 and beyond.

“The support which we have continued to receive from our fans and our sponsors in these difficult financial times is deeply appreciated by all at the club.”

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