It’s been an uncertain year for the Ospreys off the field
The Ospreys have announced a loss of £1.8m for their most recent accounting period to June 2025, down from £2.18m for the previous year.
The Welsh club saw their turnover fall by £600,000 to £9.18m, while their wage bill decreased from £6.75m to £6.4m. They received £5.4m in funding from the Welsh Rugby Union, alongside financial backing from owners Y11 Sports & Media.
In signing off the accounts, director Nicolas Angio-Morneau stated that they are confident Y11 will continue to provide financial support – despite having previously been close to agreeing to buy Cardiff earlier this year.
“The directors believe that preparing the financial statements on the going concern basis is appropriate due to the continued support of Y11, the shareholder, and are confident that they will continue to provide financial support under the contract terms included within the legally binding funding obligations under the RPI Deed of Undertaking and Professional Rugby Agreement 2023 (PRA23) Framework,” he said.
“Currently the PRA23 terminates on 30 June 2027 and the company intends to sign the PRA25 imminently which runs to 30 June 2028.
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“The directors remain confident in the company’s future development, supported by ongoing shareholder backing and continued funding arrangements with the Welsh Rugby Union.
“The expected transition to the new Professional Rugby Agreement (PRA25) is anticipated to enhance financial stability through to at least June 2028 and beyond.
“In addition, the proposed redevelopment and relocation to St Helens in Swansea represents a significant strategic opportunity to strengthen the Company’s long-term sustainability and growth prospects.”
Further within the notes of the financial report, the Ospreys directors stated their belief that the club “possesses or has access to sufficient resources” to continue for the foreseeable future.
It added that the termination of the current PRA23 would have a “material adverse impact” on the club’s future revenue as it reiterated the intention to sign the new PRA25 – with the club confirming they have prepared cash flow forecasts for a period of at least 12 months that reflect the “potential impact of the termination of the PRA23 and the anticipated funding under the PRA25, together with cost management measures” available to the club.
There was no indication in the accounts of any significant new loans.
The current loans stand at £3.44m, with the majority of that being comprised by the WRU post-Covid loan spread over 19 years.
It has been a turbulent season for the Ospreys, with serious doubts hanging over their future following the WRU’s announcement back in October that they would look to cut a professional club.
The Ospreys have continually found themselves in the firing line, particularly after their owners Y11 were chosen by the WRU as the preferred bidder for Cardiff – a year after the capital club had been taken over by the governing body.
Ultimately, that deal collapsed – with the WRU confirming there would be four professional clubs until the end of the 2027/28 season.
The WRU have also offered the two west Wales regions the chance to join Cardiff and Dragons in signing PRA25.
However, the governing body remain committed to cutting the number of professional teams – saying they will outline their path to that before the end of this month.
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