Ulster Rugby Annual Report 2015 - 2016

Should Ulster cap spending at current levels and risk a reduction in competitiveness and the knock on effects on gate receipts and sponsorship, or, should Ulster Rugby spend more in the coming seasons to try to maintain and even increase competitiveness in the league and in Europe. This latter approach was proposed by the Management Committee before being approved by the Branch through their adoption of the budget for 2016/17. However, it is incumbent upon the professional staff and senior volunteers to review the cost base and consider additional income generation and work with the IRFU to release additional funding in order to minimise the actual deficit outturn for 2016/17. THANKS The Professional Game depends upon the continued goodwill of the local supporters, sponsors and other partners who support the team throughout the year and we thank all these people for their continuing

CASH POSITION Cash is always important for the Branch. Cash balances have averaged over £1.5m for this year. The on-field success continues to prove attractive to sponsors and supporters alike, which has helped maintain these strong cash balances. This enabled earlier loan repayments to the IRFU than originally scheduled reducing the impact of interest charges in 2015/16 when the remaining £830,000 was repaid at the start of the financial year. The loan for the Corporate Stand is now fully repaid leaving no loan creditors on the balance sheet. OUTLOOK The Professional Game continues to make up over 85% of the Branch’s income. The financial success of the Branch is more or less directly related to the success of the team on the pitch through gate receipts and sponsorship. Season ticket sales are trending closely to last year and the expectation is that the target of 10,500 will be achieved. During the year considerable time was devoted to the appropriate strategy for the professional game.

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