Gloucester Rugby finances in good state, says chief executive Lance Bradley

Gloucester v Wasps
Gloucester played Wasps in the Premiership at Kingsholm on 11 September, but will not have another home game in the league until 15 October when they host Bristol

Premiership club Gloucester are in good financial health, according to chief executive Lance Bradley.

Gloucester recorded a pre-tax profit of just over £1m in their last accounts, but do have a government Covid-19 loan of just over £11.2m to repay.

“Our financial position is the best it’s been for many years,” he said.

“As we emerge from the impact of Covid our operating profitability is heading towards positive levels, and last year saw our highest ever turnover.

“We have developed a five-year plan which shows both those key measurements continuing to improve.

“We’re not where we want to be yet, but we are heading firmly in the right direction,” Bradley told the club website. external-link

Bradley said the club have plans in place to repay their Covid-19 loan and that Gloucester do not owe any money to His Majesty’s Revenue and Customs.

Worcester were placed into administration by the Department for Digital, Culture, Media and Sport (DCMS) on Monday, with the club owing £6m in unpaid tax and having total debts of around £25m, including a £15m loan from DCMS for Covid-19 losses.

It meant they were suspended from playing matches, the first of which was scheduled to take place at Kingsholm, which is reported to have cost Gloucester in the region of £400,000 in lost revenue.

“It has not yet been decided whether it is postponed or cancelled. That will depend to some extent on how quickly Worcester are able to come out of administration,” added Bradley, who called on fans to still support the club and local businesses which rely on match-day income.

“If it happens quickly, and only a game or two are missed, then I expect the game will be rescheduled. If not then I expect it will be cancelled.

“Having a home game cancelled does, of course, have a significant financial impact on us. It also has an impact on the many local businesses that depend on Gloucester Rugby match days to boost their income.”

BBC News

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