Exeter Chiefs: Club records £6.3m loss despite Champions Cup and Premiership titles
- Published
Exeter beat Racing 92 31-27 to win the Champions Cup for the first time in their history in October 2020
Exeter Chiefs made a loss of more than £6.3m in the year they won the Champions Cup and Premiership titles.
The figures from June 2020 to June 2021 saw many of the club's matches played behind closed doors due to Covid-19.
Exeter's conferencing business at Sandy Park - which has helped fund the rugby side of the club - was shut for almost all of the period due to the pandemic.
Rugby income fell from £15.7m to £9.5m while Sandy Park's income dropped £1.25m to just £127,762.
Directors hope that with Covid-19 restrictions now lifted they can return the club to profitability within the next 18-24 months.
Exeter have seen a number of high-profile players such as Jonny Hill, Sam Skinner and Tom O'Flaherty announce they will leave the club this summer with a reduced salary cap of £5m coming in.
Before the pandemic Exeter were one of the few profitable clubs in the Premiership but made a loss of just over £2.23m from June 2019 to June 2020 when the pandemic first took hold.