Revealed: St Helens’ huge financial losses as reasons for drop in crowds explained

St Helens have reported huge losses of almost £2million for the year ended October 31, 2024 after what the club have described as “our most disappointing season” since Super League was formed in 1996.

Saints finished sixth in the table last season and were then beaten by Warrington Wolves in week one of the play-offs during the Eliminators.

That poor on-field performance was mirrored off it as total revenues fell by 5% from £9,095,180 in 2023 to £8,581,390 in 2024.

“Rebuild of squad and was backroom staff was necessitated”

Operating losses increased from £2,205,615 to £3,554,463 in 2024 and earnings before interest, taxation, depreciation and amortisation increased from a loss of £1,319,278 in 2023 to a loss of £2,559,952 last year.

A reduction in central distribution from the latest broadcast deal with Sky Sports also contributed to the club’s financial situation – while gate receipts were also down due to every game being televised.

Intriguingly, the Saints did not blame loop fixtures on the drop in gate receipts in their strategic report. They instead said they ‘were impacted by both on field performance and also the impact of all games being televised’.

After tax, the Saints’ bottom line loss was £1,921,533. That is slightly down on 2023’s losses of £2,046,194.

In a report published on Companies House, St Helens said: “A league position of sixth then saw us agonisingly eliminated in the first round of the play offs by Warrington in golden point extra time.

“There was no doubt that unparalleled injuries throughout the second half of the season contributed to our poor results and that the return of some players at the end of the season was too little too late. However, it also indicated that a gradual refresh and rebuild of our squad and back room staff was necessitated.

“The St Helens women’s team won the Challenge Cup for the fourth season in a row but lost out in the Grand Final. Gate receipts were impacted by both on field performance and also the impact of all games being televised. Super League distribution fell despite all games being televised.

“Retail sales were down but non match day hospitality and events revenue continued to grow despite not holding a concert in 2024.

“Total revenues fell 5% from £9,095,180 in 2023 to £8,581,390 in 2024. Operating losses increased from £2,205,615 to £3,554,463 in 2024.”

Retail sales were down but non match day hospitality and events revenue continued to grow despite not holding a concert in 2024.

But the report revealed Saints’ soaring costs had hit them in the pocket, stating: “Costs have increased across all of the teams and the stadium as well as the impact of the national minimum wage. We continually look at ways to control and reduce our costs.”

Saints said net assets fell from £2,234,791 in 2023 to £313,258 in 2024 while debtors and cash were in line with last year.

The report warned that the “principal risk” to their business is an adverse performance on the pitch and its subsequent effect on income stream.

However, it also stated: “The group believe that they have in place the appropriate facilities and staff to ensure that the team continues to challenge in all competitions.

“Energy prices are a major concern as there is no way to pass on these increased costs without impacting attendances for both match and non matchday activity.

“Support funding received from the Department of Culture, Media and Sport (DCMS) for the sport of rugby league in 2020 started to be repaid including the interest from July 2023.”