Exeter Chiefs post £10m loss, seek new investment

PREM Rugby club Exeter Chiefs have reported a loss of £10.3 million in their most recent financial accounts, highlighting growing financial pressure across English club rugby.

The figures relate to Exeter Rugby Group PLC, the club’s ownership company, for the year ending June 30, 2025. The loss marks a sharp increase from the previous year, when the company recorded a deficit of around £850,000.

The latest accounts show that the club’s turnover fell to £20.1 million from £21.6 million a year earlier. Despite revenues remaining above £20 million, losses rose by more than 1,000 per cent year on year, underlining the scale of the financial setback.

A major factor behind the losses was an exceptional expense of over £6.15 million linked to the impairment of loans owed by an associate company.

Directors stated that, after reviewing the position, they believe the amount is unlikely to be recovered and have therefore written it off in the accounts. Excluding this impairment, the group still posted a loss before tax of around £2 million.

Gross profit also declined sharply, falling from £2.8 million in the 2024 financial year to just over £500,000 in 2025. Income generated at the club’s Sandy Park stadium remained broadly flat at £2.5 million.

The accounts follow confirmation that Exeter Chiefs chairman Tony Rowe is seeking fresh investment and is open to selling a stake in the club.