Following a 10% increase in year on year revenue to £18.6m, Bath Rugby has declared an EBITDA trading loss of £0.8m for the year ending 30th June 2017 (2016: £0.5m), this included a significant increase in player costs in line with changes to the salary cap.
The reported loss after tax of £2.5m (2016: £1.1m) accounts for investment in the West Stand, which increased the capacity at the Rec to 14,500 for the 2016/17 season.
Chief Executive Tarquin McDonald said:
“The purpose of the Club’s business performance is to support ongoing investment in our core rugby activities, and we remain committed to investing up to the salary cap. Whilst we have not delivered the performances or consistency that we and our supporters wish to see, we will continue to invest in our playing, coaching and performance structures as we work to address this.”
The Club also remains committed to keeping rugby in the heart of Bath. Grimshaw has been appointed in the role of lead architect and is leading the design process for an 18,000 capacity stadium which will provide a new home for Bath Rugby securing its long term future in the heart of the City as well as supporting riverside regeneration, sporting participation and a broader social legacy.
Tarquin McDonald continued;
“We have the opportunity to provide our supporters with the world-class facilities they deserve in the heart of Bath, and to secure the long term future of Bath Rugby in the City. In addition, the project will serve as a catalyst for riverside regeneration and wider community benefits for all. It is our intention to bring forward design proposals for planning later during 2018.”
