London Broncos felt the effects of their recent year in Super League as accounts for the period ended 30 November 2019, showed a significant decline in their operating losses.
London Rugby League Limited recently lodged their accounts for the year ended 30 November 2019 at Companies House, revealing that their total income for the year more than doubled, from £1,077,299 in 2018 to £2,160,856 in 2019, primarily caused by a significant rise in income from the Sky broadcasting contract and increased attendances.
An average attendance of over 2,000 in Super League, compared to under 900 in the Championship saw the club’s turnover more than double during that period, and with administrative expenses only increasing by less than £300,000, that has had a major effect on the club’s overall finances.
In total, the Broncos made an operating loss of £881,765, almost halving the previous year’s loss of just under £1.64 million.
The club reports long term liabilities of £23,610,283, virtually all of it being owed to the club owner David Hughes.
Elsewhere prop forward Greg Richards has become the latest player to extended his stay at the club after signing a new deal.
The former St Helens and Leigh player joined the club ahead of their Super League campaign in 2019 and coach Danny Ward is delighted to have him on board once again.
“We are really pleased to have secured Greg for another season,” said Ward.
“He’s a good bloke who has fitted in fantastically since his move down here and is coming into his prime years now.
“He’s Grand Final winner who brings plenty of Super League experience and quality.
Meanwhile fellow prop Rob Butler has left the club to join Warrington Wolves.
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