Shareholders had the opportunity to question the Leicester Tigers board of directors at the club’s 22nd Annual General Meeting at Welford Road on Thursday.
The Board answered questions on subjects including the strategic review, financial results and shareholding as well as stadium catering and a cashless stadium.
In the formal part of the meeting, Tigers directors Rory Underwood, Terry Gateley and Peter Aldis were re-elected to the board.
Addressing the AGM, director David Abell said: “Last season was not a memorable one in terms of results on the field. It is not where we want or expect to be, and no one involved in the club would attempt to say otherwise.
“A lot of work has gone into correcting that and there have been promising signs with some significant recruitment and Geordan Murphy driving the culture in his first full summer in charge.
“We will continue to constantly review our operation to ensure that progress is upwards.”
The Report and Accounts detailed revenues of £20 million in the year ending June 30 2019, with an operating loss of £1.9 million offset to some extent by a further increase in Premiership rugby income.
“Along with our season ticket holders and matchday supporters, our commercial partners play a significant part in the business and generate income to fully support the playing squad, with the recruitment and retention of players, the best possible support staff and facilities, and a successful academy structure,” added Abell.
“Thanks to the strength of support – from season ticket holders and fans to corporate partners and sponsors – as well as the experience of more than 20 years at the forefront of the professional game, we believe we are in a strong position to make the most of the opportunities ahead of club rugby.”
The club also acknowledged the success of the academy system which has produced under-18 league champions in the last two seasons and a flow of players promoted to senior rugby, all following in the footsteps of four graduates who are now with England at the Rugby World Cup in Japan.
“A lot of successful teams are based on a young core of players who have come through together,” said chief executive Simon Cohen. “Manu, Dan Cole, the Youngs boys, Tom Croft, they all came through together. You cannot transport that in, it has to grow up through the system.
“Ged Glynn did a lot of work on the academy and it is starting to deliver that kind of group to the club. I think that is a key part of being successful.”