BEES SEEK PLEDGES OF FINANCIAL SUPPORT FOR NEXT SEASON

Birmingham & Solihull Rugby Club are seeking pledges of financial support from individual and corporate backers to help them plan their future in National Division 1. In an open letter that was sent to their members and supporters, the Board of Directors outlined the Club’s current position and its immediate priorities following the Bees’ relegation from the RFU Championship

In the letter, the Club has stated that initial budgeting for next season indicates that to maintain a professionally organised and run Club, with a semi-professional squad capable of competing effectively in ND1 will have a cost base in the order of £350k to £375k per annum. The Club’s current revenue streams fall far short of these levels and over the last two seasons the operating losses of the Club have been made good by the generous contributions of a handful of individuals, most notably by the current Club’s Chairman, Chris Loughran. Whilst Chris has indicated that he is both willing and able to contribute significantly to the Club’s finances in the immediate future, the Board believes that it is unfair to ask or expect one individual to continue to shoulder such a financial responsibility.

The Club is therefore asking its wider stakeholder base to pledge support in a number of different areas so the Club can commence its detailed planning for next season in the knowledge that a significant proportion of the necessary funding is in place. Key areas of support include companies and other organisations giving firm commitment to a range of Commercial Opportunities for next season as well as a “Matched Funding Appeal”, whereby for every £1 of money pledged by individual or corporate benefactors as a gift to the Club, £1 will be committed by Club Chairman Chris Loughran up to a limit of £200,000.
 
The Club is asking for pledges of support no later than 31st May so it can assess its funding options and plan accordingly for the forthcoming season. For a full copy of the open letter and information on how to support the Club going forward, please click here.