LONDON BRONCOS have estimated that relegation from Super League and the lack of a parachute payment will cost the capital club almost £1m.
The Broncos, who won just three games from a possible 27 in 2024, were cut adrift before a ball had even been kicked due to their lowly IMG grading given to the club towards the back end of 2023.
As a result, there was an understandable lack of investment in the squad for what would be their maiden season in Super League.
Now, London chief executive Jason Loubser has revealed just how financially damaging that relegation and lack of parachute payment is for the club.
In the statement, Loubser writes: “The club is at the start of a new journey on the basis that we are heading into the Betfred Championship in 2025 based on the grading process which will be made public by the RFL next week.
“In the first instance, I would like to echo the thanks to David & the Hughes family for the incredible support which they have shown the club over the years and with everybody continuing to back us, we are sure that Broncos can continue the journey.
“However, it is now vital that we all recognise the challenges that we face as London Broncos and whilst we are working tirelessly in the background to source new investment, the reality which we face is that we must raise funds now
“There will be no parachute payment for clubs relegated from Super League in 2024 as had been the case in previous years.
“This leaves a hole in our budget and now requires us to raise funds alternatively and immediately. We estimate it will cost circa £900,000 to navigate our way through the 2025 season so for us to confidently start signing players and be ready for the first competitive game we need to raise around £350,000 in the next month.”
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