Exeter CEO Tony Rowe has hit back at allegations that his Chiefs are in financial trouble. The 2020 Gallagher Premiership and Heineken Champions Cup winners have come under scrutiny following the exit from the club of numerous star players and it was claimed in recent weeks that the business was on “shaky foundations”.
The allegation was made amid the fallout surrounding the demise of London Irish, the third club since last September to collapse and exit the English top flight. Rowe, though, has refuted the suggestion that Exeter could be next in line, claiming instead that the Sandy Park club is now in a solid position to kick on after three years of testing trading caused by the pandemic.
Speaking on the Exeter club website, Rowe said: “For the last three years, ever since covid hit, every club has been tested like never before. It has been a real challenge for all of us, not helped by the ongoing situation with the war in Ukraine, and sadly not every club has been able to get through the process as we have seen.
“To lose another club last week underlines just how tough it has been and it is a trend that needs to be bucked sooner rather than later. Thankfully, the club had assets within its business structure that we were able to use to help bring much-needed funds back in to help combat the repayment on loans and address other issues around the finances.
“That effectively helped keep us afloat through some tough trading months but now as we look to the future, we are very confident that next year we will be back in full recovery mode. Sandy Park itself is incredibly busy.
“Sandy Park Hotel is very busy and with crowds starting to come back into stadiums, both for our men’s and women’s teams, as well as the concerts we are holding here this summer, we see a bright and exciting future ahead for the club and for our business as a whole.”
Addressing the ‘shaky foundation’ that Exeter were allegedly on, Rowe added: “As I said, it has been a financially challenging time for all of us, but what I guess it has shown is just how underfunded the game of rugby itself truly is.
“That is something not only clubs have to address moving forward, but it is also for the likes of Premiership Rugby and those who run the game in this country to really look into. We can’t afford to stand still in any shape or form. For the game to grow in the manner we all want, we have to be looking at developing every aspect of it, both on and off the field.
“Personally, I’m really looking forward to the future. The squads we are assembling for the new season are hugely exciting and clearly with an eye to the long-term future as well. We have never been a club who are looking for a short-term fix. We have always had a vision of where we want to go, how we want to get there and a realistic time frame of how long that will be.
“Our success in recent years has been built around having those solid foundations and that is what we will continue to do as we look to attack next season and beyond.”
