Saints announce increased losses for financial year 2023

[josie andrews]

ST HELENS RFC have announced increased losses for the financial year ended 31 October 2023.

Club Chairman Eamonn McManus highlighted the reduced TV income, inflation and the rise in energy costs as the biggest contributory factors in the losses.

And those losses will get worse for 2024 with the commencement of Covid loan repayments that needed to be taken out to cover the years 2020 and 2021.

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 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.”

https://www.sthelensstar.co.uk/sport/24 ... year-2023/

[josie andrews]

All clubs will be suffereing & the loss of revenue from Sky & other broadcasters is the fault of the RFL in under selling our great game short year upon year.

[fozzie58]

All clubs will be suffereing & the loss of revenue from Sky & other broadcasters is the fault of the RFL in under selling our great game short year upon year.

Have to agree Josie and quite what the sport is paying IMG for is simply beyond me a minimum of 450 thousand a year for what?

Truth is you can’t even blame them for the tv deal that gave away the kitchen sink for less money as they didn’t have anything to do with it so the question remains why is a sport paying a company that doesn’t seem to offer the sort anything at all yet the headquarters have to make redundancies it is utter madness

[Mike]

All clubs will be suffereing & the loss of revenue from Sky & other broadcasters is the fault of the RFL in under selling our great game short year upon year.

Have to agree Josie and quite what the sport is paying IMG for is simply beyond me a minimum of 450 thousand a year for what?

Truth is you can’t even blame them for the tv deal that gave away the kitchen sink for less money as they didn’t have anything to do with it so the question remains why is a sport paying a company that doesn’t seem to offer the sort anything at all yet the headquarters have to make redundancies it is utter madness

WHat should IMG be doing?

[Wigan_forever1985]

You've got to ask yourself how economically viable Rugby League is for the next 5-10 years

Saints are one of the big 4 names in the sport, they have their own stadium and they are feeling the heat.

The salary cap in its static guise is becoming less and less viable for young people coming through to support in the modern times. We are probably looking at situation that vast majority of younger players could easily outstrip rugby league wages through "normal" jobs and couple that with the health risks etc its hard to see a solid future

I dont think IMG are to blame, i think the owners of the clubs are to blame for consistently living small

with the TV deal i dont think you can say we have a bad deal unless you know what if anything the other offers were. If no-one else wants to buy the product then Sky are well within their rights to offer as low as possible - they owe the sport nothing they are a business.

[Ipinwigan]

Totally agree, the way the game is and always has been run by the RFL, they have absolutely no idea how to promote the game.
The addition of IMG has not raised awareness of the game outside of the RL community.
The only apparent thing that IMG have done, is bring in a spurious grading system, probaly not fit for purpose.
Under the current grading system, even if Hull finish bottom they stay in Super League and London are relegated.
The trouble with this closed shop system, is that teams who perform badly have nothing really to loose and as Hull have done this season, bring nothing to the game.

[Wigan_forever1985]

Totally agree, the way the game is and always has been run by the RFL, they have absolutely no idea how to promote the game.
The addition of IMG has not raised awareness of the game outside of the RL community.
The only apparent thing that IMG have done, is bring in a spurious grading system, probaly not fit for purpose.
Under the current grading system, even if Hull finish bottom they stay in Super League and London are relegated.
The trouble with this closed shop system, is that teams who perform badly have nothing really to loose and as Hull have done this season, bring nothing to the game.

And this is what im alluding to in the small minded approach, its owners looking after their own interests not the games interest

For a sport to be successful you need a few things;

Good grass root access
Characters and the ability for individuals to become the stars of the show - not teams
Sponsorship
The ability for anyone who wants to invest to be able to - with a framework

The problem is with rugby league we are falling way short in many of these areas

[Charriots Offiah]

You've got to ask yourself how economically viable Rugby League is for the next 5-10 years

Saints are one of the big 4 names in the sport, they have their own stadium and they are feeling the heat.

The salary cap in its static guise is becoming less and less viable for young people coming through to support in the modern times. We are probably looking at situation that vast majority of younger players could easily outstrip rugby league wages through "normal" jobs and couple that with the health risks etc its hard to see a solid future

I dont think IMG are to blame, i think the owners of the clubs are to blame for consistently living small

with the TV deal i dont think you can say we have a bad deal unless you know what if anything the other offers were. If no-one else wants to buy the product then Sky are well within their rights to offer as low as possible - they owe the sport nothing they are a business.

It wasn’t long ago that they were bragging about having a stadium and about it being a significant source of revenue, what went wrong? I have read somewhere today that McManus has said there will be cuts but they will still spend up to the salary cap. I can see Welsby moving on soon.

[fozzie58]

All clubs will be suffereing & the loss of revenue from Sky & other broadcasters is the fault of the RFL in under selling our great game short year upon year.

Have to agree Josie and quite what the sport is paying IMG for is simply beyond me a minimum of 450 thousand a year for what?

Truth is you can’t even blame them for the tv deal that gave away the kitchen sink for less money as they didn’t have anything to do with it so the question remains why is a sport paying a company that doesn’t seem to offer the sort anything at all yet the headquarters have to make redundancies it is utter madness

WHat should IMG be doing?

A damn site more than rehashing tired,stale ideas such licensing oh sorry grading or trying to reintroduce that tired concept of the war of the roses no one went why would they go now?

450k a year for a poor sport is untenable simple as that

[Mike]

Have to agree Josie and quite what the sport is paying IMG for is simply beyond me a minimum of 450 thousand a year for what?

Truth is you can’t even blame them for the tv deal that gave away the kitchen sink for less money as they didn’t have anything to do with it so the question remains why is a sport paying a company that doesn’t seem to offer the sort anything at all yet the headquarters have to make redundancies it is utter madness

WHat should IMG be doing?

A damn site more than rehashing tired,stale ideas such licensing oh sorry grading or trying to reintroduce that tired concept of the war of the roses no one went why would they go now?

450k a year for a poor sport is untenable simple as that

So everything they've done is wrong and they should get us more money right now.

I understand that something like their 5-10 year plan that we've not started yet just doesn't cut it, but what should we do instead?