Chiefs supporters told the future holds 'bright prospects'

Exeter Rugby Club members were given an upbeat message about the future at their annual AGM.

Chairman and CEO Tony Rowe CBE said there was no doubt about the strength of the economic headwinds that have been blowing since the coronavirus pandemic outbreak and the subsequent energy crisis.

However, he assured members their club has navigated the trials and tribulations with one eye on the future.

The meeting was told there have been some incredibly important landmarks during the past 12 months including The Courtyard by Marriot Sandy Park hotel now being fully operational.

And although the final costs of the construction of the building have been absorbed into this trading year contributing significantly to an overall operating loss for the club, the hotel is now beginning to trade at a profit, securing some much-needed financial diversity.

Alongside the hotel, the conferencing and events side of the business has never been busier, with Sandy Park Stadium seeing more clients coming through its doors in 2023 than any other year to date.

With current forecasts for 2024 showing even greater growth in this area, there is a huge amount to be positive about, members were told.

Mr Rowe said: “We aren’t trying to hide from the economic challenges of the past few years, but it feels very much as though we have turned a corner and are heading towards a profitable 2024.

“Whilst we are unable to control the external factors that have impacted the business, I am personally buoyed by the projections that we are seeing, particularly with the rise in ticket sales and the optimistic trading reports of the hotel, which is still very much in its infancy.

"I’d like to thank our commercial partners, club members and of course our fans, who have been with us throughout this challenging period and I look forward to heading into the New Year with bright prospects for our rugby club, both on and off the field."

You can read the full report here.