Exeter celebrate another profit-making year
September 28, 2012
Exeter notched their second win of the campaign against Saracens last weekend © Getty Images
Exeter Chiefs chairman and chief executive Tony Rowe has predicted a bright future for the club after they reported another substantial profit for the last financial year.
The Chiefs posted a net profit of £630,399 last year following an outstanding first season in the top flight and they have backed that up with another "six-figure profit" for the most recent financial year with exact details yet to be released.
One of only four Premiership sides to record a profit for 2010-11 alongside Northampton, Leicester and Gloucester, the Chiefs impressed again both on and off the field last term with a fifth place finish in the Premiership and a set of accounts that serves to cement their status as one of the leading clubs in the country.
"It's been a great year for the club, but also a very busy one," Rowe told the club's AGM. "As a club we continue to go from strength to strength. On the playing side, we have made big strides forward with our qualification into the Heineken Cup this season, whilst off the field there has been a huge amount of work put in by a great number of people as we look at plans to redevelop Sandy Park further.
"We now have a great club here at Exeter, but it's one I genuinely believe will get even greater in the years to come."
As well as announcing the club's figures for the year, the Exeter board of directors were also able to confirm that the purchase of the Premiership Rugby 'P Shares' - which allows the club additional central funding - has now been completed from Championship outfit Leeds Carnegie for an undisclosed sum.
The board also confirmed that planning permission has now been secured for a new, state-of-the-art, three-pitch training facility at Oil Mill Lane, Clyst St Mary - and the planning application for the redevelopment of Sandy Park had now been submitted with city councillors and the club are hopeful of a positive outcome at the end of the month.
© ESPN EMEA Ltd
"The fans could not be happier with the opposition and it adds an exciting element to a game that is shaping up as a thriller." Ben Kay previews the Premiership final showdown
"If there was a cross breed of canine called an Underdogdoodle it would win best in show at Crufts." Mark Durden-Smith looks at the Aviva Premiership Final
With the Lions' tour to Australia fast-approaching, ESPN's Austin Healey and Mark Durden-Smith sat down to share their memories of the 2001 trip Down Under
Ask John answers questions on the Leopards' tour to Italy in 1974, brotherly Test sides, Pat McGrath, England's games against the Barbarians and Jacques Brunel