Finance Planning Update

In Saturday’s matchday programme I included a brief financial update (below and attached), which I thought I would share with all who weren’t there to see the excellent win against Old Albanian.

Financial Planning Update

As we enter the last five weeks of the playing season, we will also be coming into the final quarter of the 2018/19 financial year, which runs to the end of June 2019.

This year has been a transitional year, as the club migrates from its Private Limited company status to a company Limited by Guarantee. As from 1st July 2019, the new members’ club – the nattily named Birmingham & Solihull Rugby Football Club Limited (“B&SRFCL”) – will be wholly responsible for running all financial affairs from that point onwards.

We are very fortunate that the ground at Portway is in beneficial ownership, through Portway Community Rugby (PCR). The existing rugby club operating entity has also enjoyed the significant patronage of benefactor Chris Loughran since the dark days of 2009, when the club had to start afresh after liquidation.

Chris signalled two seasons ago that the club would need to become financially self-sustaining from the beginning of the 2019/20 season and the new members’ club must now work hard to achieve this.

Later on in this programme I have set out 10 different ways in which members of B&SRFCL can help and support OUR club NOW and going forward.

In parallel, we are also working hard behind the scenes to secure pledges from 12 benefactors, who will each provide £10,000 for three consecutive seasons to fund on-field semi-professional activities. Two of these 12 pledges have already been secured but should anyone know of individuals or organisations who wish to get involved in this way, please let me know.

We are also beginning the process of talking to current and other potential commercial sponsors for next season across a range of budgets. Again, please contact me in the first instance if you have any contacts that can be introduced (my email address is richard@nccreativegroup.com ).

We will keep members informed of progress as we work towards a new financial model for next season.

Kind regards/COYB

Richard
Club Treasurer