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How's the club doing financially?

How's the club doing financially?

Ian Anderson7 Dec 2020 - 12:00
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https://www.sidcuprfc.co.uk/ne

Currently: OK. Outlook: uncertain.

The good news is that the club's new main sponsor, DPSplc (many thanks to Dave Price), has committed to continue their very generous support of the club.

On the not so good side, before the lockdown, we already knew that we had lost the club's previous main sponsor, XP Plumbers, who had generously supported us for many years. To add to the woes, Coronavirus has meant that another club sponsor - a big supporter of the juniors and minis - needs to wait until later in the year before deciding whether they can commit.

This has all been made worse by the RFU decision not to distribute tickets for international games at Twickenham to clubs this season. Twickenham capacity is likely to be very limited so the RFU are keeping tickets for their commercial partners. The effect on clubs like ours is that we won't be able to make the offer of tickets to our potential new sponsors; good for the RFU, not good for us!

However, on the plus side, the rugby club has strong regular cashflow though the 500 Club and we are very grateful to all members that have continued to pay their monthly subscription through these uncertain times. In addition, as we have historically paid only one or two players in a season, we don't have a large wage bill to consider.

The Sports Club (which manages the bar and facilities), has benefited from 100% relief on 2020/21 business rates and has received the £25k cash grant paid to leisure outlets. This has covered the Sports Club's cashflow while the bar has been closed and has greatly helped keep the financial pressure off the rugby club.

The outlook for the future though is uncertain. Annual subscriptions become due in September; the majority of these come through the junior and mini age groups. We're waiting with considerable interest in developments on timing for a return of youth rugby.

We'll let you know more as soon as we know more.

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