Ulster Rugby: Chief executive Jonny Petrie says Covid-19 has reduced Irish province's income by 50%

Only 500 fans were allowed to attend Friday's Champions Cup home defeat by Toulouse

Ulster Rugby's chief executive Jonny Petrie says the Covid-19 global pandemic has reduced the Irish province's income by 50%

With meaningful number of spectators still not able to attend games, Ulster, like many sporting organisations have lost their main revenue stream.

"It is certainly a figure stretching well into the millions that we will be down on revenues this year," he said.

"It is a good 50% of our income and that makes it a real challenge."

Ulster will be hoping to access a significant portion of the £25m which Sport Northern Ireland has announced will be made available through its Sports Sustainability Fund.

Petrie now two years into Ulster job

"We are working through that with Sport NI and the Executive to look at how the funding can look at filling in some of those gaps for us," added the Ulster chief in an interview which took place before Friday's European Champions Cup defeat by Toulouse.

"I know the Minister for Communities is very keen to see that money getting out to where it is needed in sport as quickly as possible.

"We expect the process to go through the New Year with a view to the funding going to the governing bodies probably in February at some stage.

"We are very grateful for the funding being put in place but that really is only part of the picture. The participation and the health and wellbeing aspect is equally as important."

Petrie, now two years into his Ulster role after taking up the job in December 2018, added that the "domestic game" in Ulster also must not be forgotten.

"We know revenues have been hit with the inability of clubhouses to be open and fundraisers and lunch clubs to have been hampered. We need to work hard to make sure that the funding goes exactly where it is needed."

Marcel Coetzee is being linked with a possible return to South Africa

Ulster hope Coetzee will stay 'long term'

Asked whether the financial hit Ulster has taken will affect player retention and indeed recruitment, Petrie admitted this was a "really difficult" issue.

Ulster's biggest name player Marcel Coetzee has been linked with a possible return home to South Africa but while acknowledging the impact the financial hit has had, Petrie insisted that the province hope the star back row will remain at the club "in the long term".

"We have been working closely with the IRFU on what our financial plan is in terms of the budget and the ability to move forward with contracting.

"We think we are in a reasonable place with that and we would expect to get cracking with that over the course of the next month.

"It is really important for us as under Dan (McFarland) we have built a really strong squad and I say a squad because we have got a lot of good young Ulster talent coming through the ranks and playing really well for us.

"It is important we continue to invest in that group and see that grow and succeed over the next few years."

Petrie said Ulster would not be rushed into appointing a successor to assistant coach Dwayne Peel who will return home to Wales to join Cardiff Blues' coaching staff at the end of this season.

"It's been disappointing in some respects that Dwayne has opted to move back to Wales. In other respects we completely understand both his family situation with young kids who are starting school and also for the opportunity for a young Welsh coach to move back to his homeland.

"We wish him all the best and we'll take our time in looking at what's next for us.

"Under Dan, we've built a really strong coaching group, some good young coaches coming through the system, who've worked with our young players for a long time. We want to take a look to see what that might develop into."