Coventry in good health despite £300,000 loss.


By Coventry Telegraph
April 20 2011

COVENTRY Rugby Club made an expected loss last year but is confident of moving towards a break even position and even the possibility of a small profit next season.The club inherited a number of past liabilities last year and had to invest substantially in order to move Cov forward into a new chapter after being in administration.

Chairman Peter Rossborough said that the trading deficit of £323,000 for the year to June 30, 2010, was not unexpected and should not tarnish the good work undertaken by the board and senior management and playing staff recently.

He said: “We have achieved a great deal in a short time thanks to our totally committed board and senior management supported by our loyal supporters and sponsors.

“We had to restructure the business and meet significant extraordinary costs associated with bringing the club back out of administration”.

“This club is now back on its feet and confident in its future. We have attracted some major, internationally renowned brand sponsors and our fans have stayed loyal throughout.

“That being said, there is a great deal of work still to be done both on the field and off the field.

“Our objective has to be to get into at least a break even position in the short term and we see no reason why we cannot achieve that goal,” he added.

Cov are attracting crowds of just under 1,000 to most home games although the last home gate exceeded 1,100.

New sponsors continue to come on board and the club is looking at all avenues to promote the use of the Butts Park Arena during the week.

The club has tied up major sponsorship deals with Jaguar Land Rover and Unipart Logistics.

Coventry in good health despite £300,000 loss.
Posted by: Unofficial Coventry Rugby (IP Logged)
Date: 20/04/2011 07:50

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Re: Coventry in good health despite £300,000 loss.
Posted by: covkid53 (IP Logged)
Date: 20/04/2011 23:13

Absolute nonsense Peter, we are deep in doggy do.

Who is going to pay off this £325,000 debt ???

Time to end it.... Now.

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