Financial results released by Gloucester Rugby Limited with Companies House for the year ended June 30, 2025, revealed “significant doubt on the company’s ability to continue as a going concern”.
However, the report concludes: “After considering the mitigating actions described above, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.”
Turnover fell from £14.92m in 2024 to £13.44m in 2025, while the total comprehensive loss jumped from £516,355 to £2.91m during the same period.
Central income fell from £5.13m to £3.04m, ticket income slipped from £4.6m to £4.5m but hospitality, conferencing and events income rose from £1.82m to £1.99m.
The directors have prepared cash flow forecasts covering a period of at least 12 months from the date of approval of these financial statements.
The report says: “The directors acknowledge that there are inherent uncertainties in forecasting future financial performance, particularly in the context of the competitive nature of Premiership rugby and variability in team performance, matchday revenues, sponsorship deals, broadcasting rights, and economic conditions affecting sponsorship and attendance.
“These conditions indicate the existence of a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern.
“If the company is unable to secure the necessary funding, it may be unable to realise its assets and discharge its liabilities in the normal course of business.”
During the period, the average number of people employed by the company fell from 286 to 250. The total wage bill (including directors) rose slightly from £10.04m to £10.14m.
The report adds: “English Rugby continues to experience challenges, and although the on-field performance and attendances improved towards the end of the season, the club remained static in revenue growth across ticketing income and hospitality and conference events. Sponsorship and advertising sales have seen improved growth due to improved commercial opportunities.”
On the field, during the 2024/25 season the club delivered a competitive performance in the Gallagher PREM, finishing 5th in the league table, narrowly missing qualification for the play-off positions. This represented the club’s highest league finish since the 2018-19 season.
In domestic and European cup competitions the club reached the quarter-finals of both the PREM Rugby Cup and the EPCR Challenge Cup.
A number of strong home performances were recorded at Kingsholm during the season, including a record home score against Exeter Chiefs, contributing to several sell-out fixtures. The club’s style of play received positive recognition across the competition.
Kingsholm Stadium continued to operate as an important regional venue for hospitality, conferences and events, the report added.
At the start of the season, the club introduced a new premium hospitality offering, converting the former Legends Lounge into the Chairman’s Club, which now represents the most premium matchday hospitality experience available at the stadium.
Across the season the company experienced growth in a number of hospitality and venue revenue streams, with additional corporate box holders and new 1873 members joining the club’s existing hospitality portfolio.
In May this year, Gloucester Rugby revealed that a drive to attract investment from fans and backers for the club had drawn more than £300,000 in new investment.
Martin St Quinton, majority owner, said the response to the fundraiser had been strong, with the average investment, which gave participant shareholders full voting rights, achieving around £2,500.
Last week, Tom Jones performed at a sell-out concert at Kingsholm as part of the venue’s events offering.
Punchline-Gloucester.com says: “This is a tough business to be in at the moment. A couple of years ago a number of rugby clubs went bust, which meant there were fewer games and therefore less ticket sales and revenue. Good players are expensive. We are lucky in Gloucester that Gloucester Rugby club is well run and managed and has a strong following across the county and beyond.
“To be fair to the club, like any good business who finds their finances under strain, they have managed to pivot the business in order to raise extra money. We as fans must try to support the club as much as possible by going to the games, buying lots of beer, going to the events and buying their merchandise. And if you have some cash available, buy some shares. Wear your new shirt with pride next season.”
Punchline is supporting Gloucester Rugby captain Lewis Ludlow’s testimonial year
