Castleford Tigers owner Martin Jepson calls for investors as he makes long-term admission

Castleford Tigers chairman Martin Jepson has outlined the club’s need for further investment, after agreeing an option to buy almost 100% of its shares.

The lifelong fan of the club could jump from having around a third of the club’s shares to almost all of them if he triggers the option.

However, either way, he is the chairman of the club now, and his addition to the club’s ownership and directorial structure has already seen a number of changes, including to Wheldon Road, their home ground.

He also showed that he’s willing to make big decisions, removing head coach Craig Lingard in just the first week he had in his new role, and replacing him with rugby league legend Danny McGuire.

Now, he has shone a light on the financial situation of Castleford Tigers in a popular fan-led podcast.

Speaking on the COYFCast, hosted by Tigers supporter Ross Williams, Jepson explained that further changes to the financial structure are still needed.

He said: “The reality is that most of the rugby league clubs, if not all of the rugby league clubs, run at a loss.

“It became inevitable that more money would need to be invested into the club going forward. It was really a question of having the appetite for that and being prepared to take that on board.”

He noted the long-standing commitment of the former owners, the Fulton family, but continued: “It’s apparent that we probably need more investment and fresh investment going forward for the next season and I said I was prepared to take that on board.

“So, the deal I signed is still under option, the option expires at the end of January. Ian (Fulton) has stepped down as director and that gives me full control, it also gives me full responsibility for all costs. So, it’s totally on my shoulders, if we need to put more money in, I need to make more investment over a few months.

“It is a big responsibility but I’m taking that on to try and structure everything so we get the right people in place on and off the field. There’s quite a lot to be done off the field as well as on the field itself. So that’s where we are at the moment.”

Castleford Tigers chairman Martin Jepson on long-term financial security

Jepson also outlined a further, longer-term vision for the club, saying: “I think what’s important is for me to set the vision as to what we believe is the right way forward for the club, and then for people to join that journey going forward.

“I don’t expect I’ll sign anybody (investors) up immediately in the next couple of weeks. We’ll continue some discussions that we’ve already started. We’re open to other discussions if other people want to come forward but a lot of it is about how people would fit with the club and they’re for an appropriate level of commitment that the club needs going forward.”

It’s no secret that rugby league, including Super League, isn’t in the best place financially, and Jepson said: “Unless we bring more money into the game, with the money that comes in from the TV deal, which is the main sponsor, if you’re running a salary cap, there’s an immediate deficit on day one – before you pay the wages and running costs of the club and so forth.

“And that’s how you have to approach it. We’re taking a long-winded view here. We believe that sport will thrive going forward.

“In the short term, clubs need cash flows to keep going. I can do that like myself for the time being, but I think it’s important to share the burden going forward. It’s not just cash flow, it’s also the actual workload as well, particularly when I’m doing it remotely.”

The sport having people looking long-term is vital, and there’s hope for Castleford fans that this type of thinking will keep them stable for much longer than it may have appeared a short while ago.

You can listen to the full episode of the COYFCast on Apple Podcasts or Spotify.