Bath Rugby reported a 31% reduction in revenue for the 2020/21 financial year. The financial results reflect a very challenging season due to the impact of Covid, resulting in rugby being played almost exclusively behind closed doors.
The club reported positive earnings before interest, tax and depreciation (EBITDA) of £47,542. However, this result is stated after the revaluation of the club’s investment in Premiership Rugby Ltd of £6.7m. This revaluation was applied by clubs across the Premiership and reflects the long-term value of the league. The club’s underlying EBITDA loss excluding the revaluation was £6.6m.
The club relied on the on-going support of its owner and sole shareholder, Bruce Craig, together with a loan from the government’s Sport Survival scheme which will be repaid over future seasons.
2020/21 Financial Results
|
|
2021 |
2020 |
|
Turnover |
11,587,938 |
16,825,184 |
|
EBITDA including PRL revaluation |
47,542 |
(2,748,676) |
|
EBITDA excluding PRL revaluation |
(6,617,311) |
(2,748,676) |
Chief Executive, Tarquin McDonald said: “The financial impact of covid across all sports was severe in 2020/21. This period was hugely challenging for rugby and for the club.
"We are incredibly lucky to be able to rely on the unwavering support of our owner Bruce, and to have been able to draw on support from government loans.
"We are also immensely grateful to our supporters, corporate partners and sponsors who have shown their loyalty and commitment to the club enabling us to continue investing for the future.”
