The cost of London Welsh's dream revealed
April 16, 2013
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A report in the Evening Standard claims London Welsh have lost around £4 million over the last two seasons and face making massive cuts following their almost inevitable relegation from the Aviva Premiership.
The report says the club lost £1.8 million in 2011-12, the season they gained promotion, and added expenses in 2012-13 have seen that annual deficit rise to £2.2 million despite increased TV, sponsorship and gate revenues.
The cost of relegation has been put at around £2 million which will be in part offset by a parachute payment which will be worth £1.4 million. But with the club's major backer, Kelvin Bryon, walking away at the end of the season, wide-ranging cuts are on the cards.
Yesterday Bleddyn Phillips, the club's chairman, said that a return to Old Deer Park could not be ruled out as the costs of remaining at Oxford's Kassam Stadium could not be justified given the much smaller attendances likely in the Championship.
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