STATEMENT: Scotland to make changes to Murrayfield
12/16/2024 03:47 PM
Scottish Rugby is gearing up for a major revamp of Murrayfield Stadium as it battles to recover from financial losses topping £15 million over the last two years.
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Big losses, bold moves
The governing body revealed a £6.7m loss for the year ending May 2024, adding to a hefty £10.5m deficit from the previous year. Now, they've launched a two-year financial reset programme aimed at clawing their way back to profitability.
Key to this strategy? Transforming Scottish Gas Murrayfield into a hospitality powerhouse. With "significant funds" already earmarked, the stadium upgrades promise to boost fan experiences and unlock new revenue streams through enhanced hospitality offerings.
While plans are still in the works, Scottish Rugby confirmed that essential customer-focused upgrades and revenue-driving improvements are firmly on the agenda.
Back in the black?
Scottish Rugby expects these changes to slash losses to just £3.1m by 2024-25, with a breakeven target set for 2025-26. After that? They're forecasting a return to profit—good news for Scottish fans and stakeholders alike.
Tough decisions on and off the pitch
The financial reset also includes a hiring freeze (apart from key roles like the CEO and performance director) and a headcount review that could see up to 35 positions cut across departments.
Outgoing CEO Mark Dodson, who has led since 2011, will step down this summer, adding another layer of change to Scottish Rugby's reshuffle.
"Challenging but necessary"
Scottish Rugby Ltd chair John McGuigan is confident in the tough decisions being made:
"The financial sustainability of Scottish Rugby is our absolute priority. These proactive steps are challenging in the short term, but critical for securing the future of our game. This reset ensures we can achieve the ambitions we've set out in our long-term strategy."
What's next for Murrayfield?
Murrayfield's makeover comes on the back of a sponsorship deal with Scottish Gas, signed in July 2023. As the home of Scottish Rugby prepares for a glow-up, fans will hope this bold move pays off—both on and off the pitch.
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