In the year to June 30, 2008, Leicester Tigers company results showed:
* A record turnover of £15.65million, up 3% on the previous year
* An increase in commercial income to a record £8.7million
* Matchday hospitality sales of £2.4million, an increase of 5.5%
* £8million in the bank
Commenting on these results, Leicester Tigers chairman Peter Tom CBE said:
“Leicester Tigers delivered a record turnover of £15.65million in the year, although, as we mentioned in our annual accounts of 2007, further growth in revenues was constrained by the stadium capacity and the limited facilities available for matchday and corporate events at Welford Road.
“However, I am delighted to say that in July we began redevelopment of the Caterpillar Stand, which will increase stadium capacity to 24,500 and provide the extra accommodation desperately needed to satisfy demand for tickets and hospitality, while also allowing us to expand our conference and events business.
“We reported a loss on ordinary activities before tax of £202,000, mainly due to increased ground and match expenses, staff costs and continued investment in top-class medical and support services for our players. We have also begun to put in place the plans to manage and maintain our redeveloped stadium and this all comes at a cost.
“The continuing success of Leicester Tigers is built on the tremendous backing of our supporters and sponsors, and my thanks go out to them all. We are a team in the broadest sense.”
Work on the first phase of redevelopment of Welford Road is now under way and £1.3million was spent on related professional fees during the year.
“We have been delighted with the response to our plans for redevelopment,” added Peter Tom.
“Our bankers at HSBC have been very supportive, the share placement exceeded expectations and nearly half of our 13,000 season ticket holders took out the two- and three-year options, which we feel is a resounding endorsement of our plans for the future.”
Commenting on these results, Leicester Tigers chairman Peter Tom CBE said:
“Leicester Tigers delivered a record turnover of £15.65million in the year, although, as we mentioned in our annual accounts of 2007, further growth in revenues was constrained by the stadium capacity and the limited facilities available for matchday and corporate events at Welford Road.
“However, I am delighted to say that in July we began redevelopment of the Caterpillar Stand, which will increase stadium capacity to 24,500 and provide the extra accommodation desperately needed to satisfy demand for tickets and hospitality, while also allowing us to expand our conference and events business.
“We reported a loss on ordinary activities before tax of £202,000, mainly due to increased ground and match expenses, staff costs and continued investment in top-class medical and support services for our players. We have also begun to put in place the plans to manage and maintain our redeveloped stadium and this all comes at a cost.
“The continuing success of Leicester Tigers is built on the tremendous backing of our supporters and sponsors, and my thanks go out to them all. We are a team in the broadest sense.”
Work on the first phase of redevelopment of Welford Road is now under way and £1.3million was spent on related professional fees during the year.
“We have been delighted with the response to our plans for redevelopment,” added Peter Tom.
“Our bankers at HSBC have been very supportive, the share placement exceeded expectations and nearly half of our 13,000 season ticket holders took out the two- and three-year options, which we feel is a resounding endorsement of our plans for the future.”
