Exeter Chiefs record £2.26m loss

Exeter Chiefs have recorded a pre-tax loss of £2.26m after being "significantly impacted" by the Covid-19 pandemic.

The Premiership and European champions' financial figures are down across the board as the effects of the first three months of lockdown show a significant drop from the club’s performance in 2019.

The club's financial results for the year to June 2020 was boosted by CVC’s acquisition of a stake in PRL saw them post a record £24.75m profit.

But that figure has fallen by £4.73m in the latest accounts. The figures do not cover earnings from winning the Premiership or Champions Cup, which happened after 30 June.

Exeter had been the only profitable Premiership club prior to the CVC investment and are currently building a hotel and expanding Sandy Park.

"Obviously our financial results have been significantly impacted by Covid-19 but we are delighted with our performances on the field," chairman and chief executive Tony Rowe stated in the club's annual report.

"During the period to March 2020 when supporters were allowed our average attendance was only slightly less than the record set in 2018-19 and there is no doubt it would have been exceeded if the season had continued as normal, as would our other key performance indicators particularly relevant to match-days."

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