Ulster CEO McCaughey reveals multi-million pound deficit
Ulster Rugby is facing a deficit of between £2.5m and £3m, according to new chief executive Hugh McCaughey.
However, McCaughey expects Ulster to "break even within two to three seasons".
The former health trust chief executive explained that a plan is in place to deal with the province's financial issues.
Read more here.
Image source, InphoHugh McCaughey was appointed as Ulster Rugby's interim CEO after Jonny Petrie's departure in March
Hugh McCaughey is to remain as Ulster Rugby's chief executive until the end of 2025.
Former health trust chief McCaughey took over as Ulster interim CEO in March after Jonny Petrie left the position.
Ulster Rugby and the IRFU announced McCaughey's continuation in the post on Monday afternoon.
“We were confident that Hugh was the right person for us to bring in to lead the province at a challenging time last season, given his extensive organisational leadership experience and understanding of the game," said the chair of Ulster's management committee Paul Terrington.
"This extension of his contract is testimony to the progress made to-date."
McCaughey coached Ulster and Ireland players at youth level and was manager of Ulster Rugby and the Irish Sevens team at the 2009 World Cup.
“I have relished the challenges and opportunities that have come from leading Ulster Rugby since I took up the role of CEO in April, and I look forward to continuing to move the province forward over the course of the next season," said McCaughey after the announcement of his contract extension.
Image source, Getty ImagesAidan Morgan has joined Ulster from Super Rugby's Hurricanes
Former Ulster and Ireland wing Craig Gilroy believes the northern province are in for an "exciting season" with 23-year-old fly-half Aidan Morgan among their new signings.
Billy Burns, who has been Ulster's first-choice number ten since arriving from Gloucester in 2018, joined Munster in the off-season with Morgan subsequently arriving at Kingspan Stadium from the Hurricanes.
"I'm excited to see what he brings," Gilroy told BBC Sport NI.
"He seems to be a real natural out-half.
"I was a really big fan of Billy Burns and I was sad to see Billy leaving. I think Munster are lucky to have him."
In a tumultuous campaign last season, Ulster finished sixth in the URC and were knocked out of the play-offs by Leinster at the quarter-final stage.
But, after head coach Richie Murphy arrived in March following the sacking of Dan McFarland, performances were improving as the year wore on.
"I've got full faith in Richie Murphy. I think he's a brilliant appointment," added Gilroy. "I think he'll take the guys forward.
"A few new signings in key positions, it's going to be an exciting season."
Image source, InphoRoddy Grant spent five years as forwards coach with Ulster
Ulster Rugby have announced that forwards coach Roddy Grant has left his position "by mutual agreement".
Grant spent five years in the role with the Irish province.
Ulster head coach Richie Murphy said: "Roddy has given a lot to the club over the last five years and we would like to thank him for all his hard work that is set to stand by us as a squad in the seasons ahead.
"From a personal perspective, I really enjoyed working together at the end of last season. Roddy is a coach that gives it his all, and I know how much maintaining the highest standards means to him."
Grant commented: "I'm extremely proud of our work as forwards over the past five years".
"I feel that I leave with the pack in a better place than when I arrived, with the guys having built a very strong reputation as a forward pack.
"I gave it my all, and I went all in. Thankyou to all the players who gave everything and went all in for me too," added the Botswana-born former professional player.
Image source, Getty ImagesUlster were beaten 48-24 by Toulouse at Kingspan Stadium in January
Ulster will start their Investec Champions Cup campaign with a trip to France to take on holders Toulouse on 8 December.
The game at Stade Ernest Wallon (15:15 GMT) is the first of four pool matches for the Irish province.
Ulster face French opposition again six days later with an encounter against Bordeaux Begles at Kingspan Stadium (15:15).
Richie Murphy's side finish against two English teams, starting with Leinster Tigers at Welford Road on 11 January (20:00).
It's back to Belfast for the final fixture against Exeter Chiefs on 17 January with another 20:00 kick-off.
Six-time winners Toulouse defeated Leinster in a thrilling final at the Tottenham Hotspur Stadium in May.
They played Ulster at the pool stage in January and came out with a 48-24 away win.
Next year's final will be played at the Principality Stadium on 24 May.
Image source, GettyQueensland Reds head coach Les Kiss is a former Director of Rugby at Ulster
Ulster are to play Australian Super Rugby side Queensland Reds in a friendly match at Kingspan Stadium on 7 February.
The fixture will form part of the club's centenary celebrations for its home ground next season.
The game is part of a wider European tour by the Brisbane-based team and will see the return of Ulster's former Director of Rugby Les Kiss, now Queensland Reds head coach.
Another familiar face to Ulster fans will be former prop Jeffery Toomaga-Allen, who will return to Belfast after spending the 2022-23 season with the Irish province, before joining the Reds.
Next season's fixture will be the third time the two sides have met, with Ulster having first faced the Reds at Ravenhill in 1986, the Australian visitors winning a tight match by six points to four.
It would be 22 years before the sides would meet again when a Reds Development team were beaten 24-0 by Ulster in a pre-season friendly at the province's home ground in 2008.
"Personally I can't wait. I have great memories of my own time at Ulster," said Kiss.
Image source, InphoWilhelm de Klerk (left) and Jack Murphy (right) were key figures in Ireland's Under-20 Six Nations campaign earlier this year
Ireland under-20s fly-half Jack Murphy and centres Sam Berman and Wilhelm de Klerk are among seven players added to Ulster's academy for the 2024-25 season.
Murphy, the son of Ulster head coach Richie Murphy, was Ireland's starting 10 in this year's Under-20 Six Nations, while South Africa-born De Klerk started all five games at 13.
Murphy, De Klerk and Berman - who has also been capped at U20 level - all join from the Leinster academy.
James McKillop (second row/back row), Bryn Ward (back row), Clarke Logan (scrum-half) and Jonny Scott (centre) will also join the UIster academy.
"The seven players joining us have showed great potential and have all played in the national pathway teams," said Ulster academy manager Gavin Hogg.
"We look forward to working with these players and helping their development, along with the 13 players who are progressing onto Year 2 and 3 of our programme."
On Thursday, Ulster confirmed that fly-half James Humphreys - son of former Ulster and Ireland 10 David - has been promoted to the senior squad on a one-year development contract.
Ulster Rugby Academy Squad 2024-25
Year 1:
Forwards: Bryn Ward (back row), James McKillop (back row)
Backs: Jack Murphy (fly-half), Clarke Logan (scrum-half), Sam Berman (centre), Jonny Scott (centre), Wilhelm De Klerk (centre)
Year 2:
Forwards: Cameron Doak (prop), Jack Boal (prop), Jacob Boyd (prop), Zac Solomon (hooker), Henry Walker (hooker), Charlie Irvine (lock), Josh Stevens (back row), Tom Brigg (back row)
Backs: Ethan Graham (wing/full-back), Ben McFarlane (wing/full-back), Lukas Kenny (wing)
Year 3:
Forwards: Joe Hope (lock)
Backs: Rory Telfer (full-back)
Matt Gault
BBC Sport NI Senior Journalist
Image source, InphoDavid Humphreys was speaking as the IRFU launched its new strategic plan on Thursday
Ulster great David Humphreys says the club faces a period of "evolution" but insists there has been a "huge upturn in mood" since Richie Murphy's appointment as head coach.
Having initially replaced Dan McFarland on an interim basis, Murphy was handed a two-year deal in May and secured Ulster's place in the 2024-25 Investec Champions Cup.
"I think there's been a huge upturn, even in the result against Leinster, the way they played and the energy they brought," said IRFU high performance director Humphreys.
"Richie's got a real quality in terms of, not just his coaching ability, but his ability to get the best out of players, specifically you mentioned Ulster there. They're going to have to go through an evolution.
"Munster did it a few years ago and did it very well and look where they've got to now. That's part of what Richie's going in to do. He's very good and brining young players through."
Humphreys, who captained Ulster to the European Cup title in 1999 and spent time as the province's director of rugby, added: "I think you've heard some of the language that's come out of Hugh McCaughey, the new CEO, this is about getting some young players into the system, giving them opportunities and I've no doubt that at some stage, Ulster will return to competing with Munster and Leinster at the top of URC."
Image source, InphoEric O'Sullivan has made over 100 appearances for Ulster
Marty Moore, Eric O’Sullivan and Matty Rea have all extended their contracts with Ulster ahead of the upcoming season.
They join Ben Carson, Reuben Crothers, Conor McKee and David Shanahan who have also had their contracts renewed.
It comes as Ulster confirmed their 43-strong squad for the 2024-25 season including new arrivals fly-half Aidan Morgan and winger Werner Kok.
"I’m looking forward to getting stuck into a new season with a strong squad who are ambitious in their goals for the year ahead," head coach Richie Murphy said.
“We have a great crop of young guys coming through into the Senior set-up who will cut their teeth alongside the experienced leaders in the group."
