Leeds Rhinos preparing for £4 million loss

Leeds Rhinos are expecting to suffer losses in the region of £4 million over the next 18 months.

The club posted a Coronavirus update on their website outlining the latest developments to safeguard itself as the repercussions of Covid-19 continue to be felt.

Within it, the club confirmed the eye-watering level of the financial impact, but said they would overcome the challenge.

Director of rugby Kevin Sinfield said: “Clearly the lockdown is a huge hit to the club’s financial plans. As you would expect, there have been long and detailed conversations between myself, Gary Hetherington and our Financial Director Nigel Chambers, as we discuss various options for altering our budgets and salary cap plans for the ‘new normal’ world that lies ahead forus.

“Our Operations Director, Sue Ward, and Head of Medical Services, Dr Marwan Al-Dawoud, have been working tirelessly to prepare the stadium and our training ground, to protect all our staff and make sure we are ready to go once we get the all clear to return. As part of that process, I know they have spent countless hours making sure our stadium is ready for fans to return safely as well, once we receive the go ahead from the authorities.

“We are predicted to make a £4 million loss over the next 18 months from the impact of the lockdown, and obviously from the other additional costs of dealing with the ongoing challenges of Covid-19.

“Our players have been exemplary over this period and, along with all our staff, they have played their part by agreeing to wage reductions, to lessen the impact whilst we have been without income.”