Sports News

Scarlets announce rare professional rugby union profit

Nigel Short became Scarlets chairman in May, 2011

Scarlets believe they are one of only two leading European teams to have made a profit in the financial year that ended on 30 June 2019.

Annual accounts say Scarlets posted a profit of £166,773 while directors wrote off £4,601,879 in loans.

In the previous year Scarlets made a loss of £643,035.

Chairman Nigel Short said Scarlets believe they are one of “only two [European] clubs to have reported a profit for the season”.

Scarlets’ turnover rose from £11,868,110 to £14,423,362 with £1,725,021 coming from the Welsh Rugby Union via a funding agreement involving the three other Welsh regions, Dragons, Cardiff Blues and Ospreys.

Short added of their financial performance: “It shows the value of having good operational and commercial management in place.

“We also owe a huge debt of gratitude to our funding directors, who have supported Scarlets over the years and during this financial year written off the remainder of their long-term loans and debt.”

For the latest Welsh rugby union news follow @BBCScrumV