DESPITE reporting a profit of £224,301 last year, Warrington Wolves are still reliant on on-going financial support from key board members, says club Chairman Stuart Middleton.
The profit for the club’s owners Warrington Sports Holdings followed a relatively successful season last year, reaching both the Challenge Cup and Grand finals.
Commenting on the club’s annual report and financial statements for the year up to November 2018 Stuart, who was given the honour of leading the team out at Wembley last year after investing £1m in the club, with a promise of a further £1m over four years, said: “It is pleasing to report an increase in turnover and that the club is now back in a profitable position after a disappointing previous year.
“The significant changes and investment made during this accounting period resulted in a challenge cup final and grand final appearance and a top-four league position.
The acquisition of a number of quality playing personnel, the recruitment of a new head coach, assistant coach, head of rugby operations and other key positions helped to achieve this.
The club further invested in the youth structure, training facilities and stadium modernisation.
“Although the club is in a better financial position, it is still reliant on on-going financial support from key board members.
“The long-term strategy is to continue to develop Warrington Wolves Rugby League club as the best Rugby League club in Super League. The club has four long-term strategic aims that include the creation of a people-centric business that has a high-performance culture, to increase the membership revenue by engaging with supporters, to consistently achieve on-field success and to achieve financial sustainability.
“The Board believes that these four strategic aims will lead to the realisation of the club’s vision to become the leading club in Super League.
“I would like to thank each and every colleague at the club for their contributions and to our sponsors, volunteers, Foundation and fans for their continued support, it is greatly appreciated.”
Books submitted by Warrington Sports Holdings Ltd for 2017 showed that the club recorded a pre-tax loss of £67,684.
This compared to a loss of £262,708 during the 2016 season – the first time the club had recorded a financial deficit since 2011.
The other board members consist of owner Simon Moran, Vice Chairman Steven Broomhead, Lance James, Chief Executive Karl Fitzpatrick (appointed May 2018), Norman Summers and Mike Lomax.