Toulouse Olympique have been hit with a major financial issue this week, as a result of cuts by the government.
Their 2024 season was very close to being successful, as they finished second in the regular season, lost the Grand Final and finished just one spot off the top 12 in the IMG gradings, meaning they couldn’t have been any closer to being in Super League.
Their participation in Super League would have been huge, as they have had financial problems for a while as it is.
Being just behind Salford Red Devils will have been particularly frustrating too for the French side, as the Red Devils are in a bad financial situation themselves – as well as their struggles surrounding the Salford Community Stadium.
Toulouse Olympique hit with major financial problem
Credit: Allan McKenzie/SWpix.com
La Dépêche in France revealed last week that the club was being kept alive by sponsors and central funding, but it has now been confirmed that they will have a reduction in central funding going forward.
There was a meeting on Thursday which involved the clubs of Toulouse, including Stade Toulousain of the Top 14 in rugby union and Toulouse FC, who play in the top tier of French football, Ligue 1.
Some reported that the meeting was about removing the grant from the City Council of Toulouse for professional sports clubs entirely, but it was actually about just a 20% reduction – which has now been announced as going ahead.
It is part of a France-wide reduction in State funding for local authorities and will be a real issue for a side that had a heavy financial deficit last year.
Last year, they were given “exceptional aid” to avoid financial collapse, with even Occitania’s regional government offering a grant.
Mayor Jean-Luc Moudenc said, via Treize Mondial: “We are facing unprecedented budgetary constraints, imposed by the reduction in state subsidies. All sectors must contribute to this effort.”
