Falling revenues, bigger losses, higher wages: Prem Rugby clubs’ debt climbs to £366m

The third edition of the Leonard Curtis Rugby Finance Report, published on Tuesday, reveals that the 10 Premiership Rugby clubs saw their collective losses rise from £34m to £36.5m in the 2024-25 season, while combined debt increased from £342.5m to £366.1m. Total wage bills grew from £125.9m to £129.8m, representing 80% of revenues, and six clubs were found to be balance-sheet insolvent. This comes despite growing investment interest from high-profile backers including Red Bull, Sir James Dyson, and the Black Knight group.