Exeter Chiefs CEO Tony Rowe has confirmed that the club is actively seeking new investment after Exeter Rugby Group posted an after-tax loss of £10.3 million last season. Despite the financial setback, Rowe remains optimistic about the club’s long-term prospects, citing Exeter’s history of growth and success at both domestic and European levels.

Financial Challenges at Exeter Rugby

The substantial loss comes after the Chiefs endured a club-worst ninth-place finish in the Premiership, which impacted ticket revenue and matchday income. In addition to the poor on-field performance, the company had to write off a £6.2 million loan associated with the Sandy Park hotel, acquired by Rowe in 2022 to help settle debts from the Covid-19 pandemic.

Without the loan write-off, Exeter’s pre-tax losses stood at just over £3 million, reflecting a rise of £2.5 million compared with the previous year. Turnover dropped by around £1.5 million, while wages across the group rose by £1.4 million.

While Sandy Park’s conferencing and events business remained stable, generating just over £2.5 million, the rugby side of the operation experienced a significant income drop due to falling attendance, a direct result of the team’s struggles on the field.

Rowe Confident About the Future

Despite the financial difficulties, Rowe remains confident in the club’s future, saying:

“I have no doubt that within the next two to three years you will find us back right at the top, knocking on the door for Twickenham and wherever the European Championship final will be. We’re in a good place. It’s taken a couple of years to get us back there, but if somebody’s going to come along and wants to invest, they need to have an upside—and I believe we have a lot of upside at Exeter.”

Rowe highlighted a proposed new franchise model for English rugby’s top flight as a potential driver of investment interest. With Exeter Chiefs’ established reputation in domestic and European rugby, this could attract significant backing for the club’s next phase.

Rowe’s Legacy and the Club’s Rise

The 77-year-old businessman has been at the helm of Exeter Rugby since 1998, providing financial support that helped the Chiefs climb from the lower leagues to Premiership and European glory. Exeter moved to Sandy Park in 2006, subsequently expanding the stadium as the club secured two Premiership titles and the 2020 European Champions Cup.

Reflecting on his tenure, Rowe said:

“I’ve enjoyed my 30 years running the club and doing what I’ve done. I made no bones about it—I used the association with Exeter Chiefs to promote my businesses, and that’s how I could afford to put the money into the club. But we’re at a stage now where the club’s got to move on, we’re looking for an investor.”

Plans for New Investment

Rowe indicated that the club will require financial support over the next two to three years as it transitions toward the franchise model, likely expected within four years. He added that discussions are already underway with a London-based advisory firm and multiple potential investors. Decisions are expected to be made in the first or second quarter of this year.

“If I was 20 or 30 years younger and offered the opportunity, I’d jump at it,” Rowe said.

The CEO stressed that Exeter Chiefs remains an attractive investment opportunity due to its strong history, loyal fanbase, and potential for future success in both domestic and European competitions.

Looking Ahead

Exeter Chiefs’ focus now is on financial stability, attracting strategic investment, and preparing the squad for future success. With Rowe guiding the search for investors and the club’s proven track record of achievement, supporters and stakeholders alike remain optimistic about the club’s ability to return to Premier League contention and compete in European rugby tournaments.