Gallagher Premiership financial lowdown

Gallagher Premiership

As another Gallagher Premiership season develops, teams start to announce their annual reports, profits and losses. With the added CVC investment there are some intriguing reports coming from England’s elite clubs.

Robert Rees gives you a brief overview of all 12 Gallagher Premiership teams and their financial situations.

*Please note that staff costs include coaches and non-playing staff (i.e. admin), not to be confused with spending more than the salary cap allow.

**Some clubs have released their updated Year Ending 2019 accounts whilst others have had to be backdated to their last accounts, YE18.

Bristol Bears

  • A net profit on the year ending 2019 of £2.84m (YE18: £7.23m loss).
  • Taken from the official audits, it read, “The net profit for the YE19 includes a significant adjustment to reflect the company’s share in PRL.”
  • In short, this means they’ve revalued an asset due to CVC investment.
  • Turnover was £9.39m on the year.
  • Total staff costs were £9.73m.

Northampton Saints

  • Loss before tax of £2.66m in the YE19, not including any asset revaluations as Bristol have done. YE18 loss was £2.78m.
  • Turnover was £18.45m.
  • Total staff costs came to £13.12m.
  • All figures audited to a 13-month period.


  • Operating loss of £3.89m in the YE18. Up from £2.69m YE17. Mainly down to increased running costs.
  • Turnover rose to £17.93m. Allianz Park was responsible for £4.8m of this with rugby activities making up the rest, including their RFU and competition income.
  • Staff costs came to £12.61m.
  • Highest paid director; £387,479.


  • Pre-tax loss of £2.18m in YE18 (YE17: £1.19m).
  • Turnover of £15.76m.
  • Lance Bradley has replaced Stephen Vaughan as CEO.
  • Total staff costs came to £11.71m.
  • Gloucester repaid £370,110 back on a loan to Director, Martin St. Quinton.

Exeter Chiefs

  • Profit before tax in the YE18 was £659,416 (YE17:£731,649).
  • Turnover came in at £20.42m.
  • Sandy Park generating just £1.74m.
  • Staff costs were 12.05m.
  • At the start of the 2019/20 season they appointed five new directors; Lisa Duncan, Nicola Teague, Toni Percival, Natasha Pavis and Christopher Over. They also terminated three directors; Brian Lodge, Stephen Byrne and Kieron Northcott.

Sale Sharks

  • Operating loss in YE18 of £1.8m (YE17:£1.39m).
  • Turnover of £9.3m.
  • This is kept relatively low due to them not owning the stadium.
  • Staff costs came to £7.3m. This will have gone up as they are now nearer the salary cap than before.


  • Profit in the YE19 of £4.6m. An increase of £14.3m down to funds received as part of the PRL deal with CVC and the resulting £4.1m increase in valuation in the club’s shareholding in Premiership Rugby.
  • Turnover in at £34.5m.
  • Ricoh Arena has been revalued at £51m (down from £60m) due to no long term sponsorship deal being in place.
  • Staff costs were £14.3m.
  • The highest paid director being in at £296,000.

Worcester Warriors

  • Loss in the YE18 was £5.75m (YE17:£8.1m).
  • Turnover rose by £1.4m, to £12.2m.
  • The club was still up for sale at this period of accounts. The majority shareholding was “purchased by Militibus Quanco ltd for consideration of £1.”
  • All land and property had a 175-year lease, 174 years left on it as a 2019.
  • Total staff costs were £10.7m.


  • They recorded a ninth consecutive year of record turnover, equalling £22.1m.
  • Operating loss in the YE18 was £4.8m (YE17:£4.7m).
  • Staff costs came to £14.2m.
  • Highest paid director was £220,000.

London Irish

  • Turnover came in at £9.5m, PRL income being £5.86m of this.
  • Operating loss in the YE18 was £2.7m (YE17:£2.43m).
  • Their income will rise faster than any Championship side – which they were at the time of these accounts – due to them being a shareholder in PRL. Likewise with Newcastle this year.
  • Staff costs came to £8.04m.

Leicester Tigers

  • Turnover came to £20m, but season ticket sales dropped for the fourth straight season.
  • Operating loss in the YE19 of £2.16m (YE18:£2.1m).
  • CEO Peter Tom confirmed the club were up to the salary cap.
  • The largest average gate in the Gallagher Premiership saw tickets account for 24% of their income.
  • The £12.8m received from PRL from CVC investment saw the bank overdraft fully repaid and net cash rise to £8.7m from a £300,000 net debt in YE18.
  • Staff costs were £13.4m.


  • Loss before tax was £1.3m in YE18 (YE17:£880,505).
  • Turnover was £19.8m.
  • Staff costs came to £12.87m.
  • The highest paid director was paid £125,425 and remained unnamed.


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