St Helens CEO confirms near-£1,000,000 loss and calls for ‘higher’ central distribution

St Helens have announced that the club suffered increased losses in the 2022-23 financial year, and that they predict further losses in 2024.

2024 has been the worst year on the field in a while for St Helens, with the club’s play-off hopes hanging in the balance going into the final two games of the regular season.

This year, the club even expect a “further increase in losses”, but even when they were excellent on the field, the club was losing money.

In 2022, St Helens R.F.C. lost £375,299 – and won the Super League Grand Final for a fourth-straight year.

In 2023, they were still one of the best sides in the country, and they lost in the play-off semi-final to Catalans Dragons.

That year, loss tripled to £1,319,274, and total revenues slightly fell from around £9.25 million to close to £9.1 million.

Therefore, it’s clear that it isn’t merely on-field performance that is causing this – and there will be plenty of clubs sharing the same kind of thing in the coming weeks.

St Helens chairman explains increased financial losses

Speaking in the club’s statement, Chairman Eamonn McManus tried to explain the figures.

He said: “Super League clubs are experiencing worsening financial performances principally due smaller central distributions deriving from reduced Super League broadcasting rights.

“We also incurred a material increase in our cost base due to general inflationary pressures and in particular increased energy costs at our stadium.”

This is all despite every single Super League game being broadcast by Sky Sports this season – showing the broadcaster is perhaps getting a lot more than it’s putting in to the sport.

McManus continued, and suggested something that could worry some Saints fans.

He said: “2024 is projected to see a further increase in losses. These will be exacerbated by the commencement in annual repayments in Covid loans which were necessarily taken out during the pandemic years. (Super League clubs were particularly badly hit financially by the pandemic as we were the only professional sport to be affected for two full seasons due to the February commencement date of our season which coincided with the outbreak).

“The Club is exploring and implementing ways to diversify and increase our operational revenue base in order to reduce accumulating losses. The arrangement with Liverpool FC’s Women’s team playing at our stadium is one such example.”

He also suggested that changed need to be made by the governing bodies of the sport: “However, real progress can only be made if central distributions in time revert to higher levels.

“We continue to support RL Commercial and IMG in their endeavours to attain this.”

Despite financial shortcomings, however, it seems that their focus is still on becoming one of the sport’s best teams once again.

He continued: “That said, the Club will continue to spend full salary cap, and to utilise all marquee exemptions in so doing. To do otherwise represents a false economy. However, other less essential costs will necessarily need to be reviewed.

“Our aim is to continue to be a leading and exemplary force in Super League in 2025 and beyond.

“The support which we have continued to receive from our fans and our sponsors in these difficult financial times is deeply appreciated by all at the club.”