Rugby Union
Coventry post 'modest profit' during tough economic times

By Steve Carpenter Tuesday 18 December 2012 Updated: 19/12 16:14

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Buy photos » The gates have previously been locked at the Butts Park Arena as the club fought for survival. Photo by Dan James (www.buyphotos247.com)

ALTHOUGH Coventry have found it difficult to find the sort of consistency required to mount a serious promotion challenge in National League One, fortunes off the pitch are showing signs of improvement.

The club's financial problems have been well documented in recent years.

Back in 2010, Coventry slipped into administration and relegation from the Championship proved to come at a cost after losing out on sponsorship money.

But chairman Jon Sharpe has reported that Management Accounts for the club’s year ending June 30, 2012, show that all the hard work being put in behind the scenes is paying off.

Revenues have increased by 50% year on year and the club has moved from a loss-making position to one of a modest profit.

It comes as good news to the club who have struggled during tough economic times.

"All available spare cash is turned back into the club to fund playing staff, improvement of the facilities and new equipment," revealed Sharpe in a statement on the club's website.

"The intention of the board is to continue in this way; every pound we earn is to be used in developing the present and future of Coventry Rugby."

The statement also confirmed a sustainable business plan which listed three main sources of income - a variety of club sponsors and benefactors, match day revenue and the club will continue to maximised the Butts Park Arena away from match days.

"We cannot risk being reliant on our sponsors and benefactors alone, nor would they want us to be," Sharpe added.

"We have developed our focus on match day income and we try to improve the experience for all present.

"We have been busy selling the fine facilities we have here at the Butts Park Arena and can accommodate a wide range of events from business seminars through sporting lunches to wedding parties; numbers of ten to three hundred can be catered for."

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