How club revenue turns Champions Cup into cash of the titans
This weekend’s Investec Champions Cup round of 16 may be about getting the win in one of Europe’s most iconic stadiums, but in reality competitions such as this – seen by many as the top club rugby competition in the world – can have a monumental impact on rugby finances.
The classic cliches in rugby often have an element of truth: the French have the money but beneath the surface they’re not as stable as many assume; the English are up there but make loss after loss; and the URC teams see drastically varied revenues due to the geographic pressure points placed on such a widespread league.
But does money mean success in the Investec Champions Cup? We’ve taken a look at the latest revenue figures for each of the 16 remaining clubs to see whether cash really is king.
First off it is worth breaking down who has what of the remaining teams – six of which are French Top 14 outfits and six apiece are English Premiership and United Rugby Championship teams.
Revenue in the Champions Cup
While exact Top 14 data is difficult to come by, La Ligue Nationale de Rugby does state in its latest report that the average revenue in France is upwards of €25m per club, €28m in fact. Compare that to those in the UK and you’ll see the advantage those across the English Channel have.
Harlequins and Saracens, England’s two London clubs, top the revenue statistics based on the latest available accounts – topping off at over £26m and £23m respectively. East Midlands duo Leicester Tigers and Northampton Saints also have revenues of over £20m. Sale Sharks linger further back but have limited access to otherwise profitable parts of the stadium they share with rugby league team the Salford Red Devils.
In the United Rugby Championship, Leinster and Munster top the table with turnover of around €20m – but these clubs tend to get further funding from the central rugby union in Ireland.
It could take the Dubliners close to the bigger spenders in the Top 14, though an average revenue of €28.4m across the English Channel would suggest the likes of Bordeaux and Toulouse are pushing far higher than that.
Elsewhere Italian team Benetton and Scotland’s Glasgow Warriors are lingering behind, closer to £10m in revenue. Financial results weren’t available for the Irish region Ulster.
Looking back
Looking back at the last four finals – which involve clubs who are still in this year’s Champions Cup contention – and you’ll only find big hitters.
Of the eight spots in the last four finals, Leinster and La Rochelle have featured three times each and Toulouse take up the other two places.
These are clearly the money men of Europe, with Racing 92, Saracens, Clermont and Toulon all featuring in the last decade. The outliers, some would say, are Exeter Chiefs, who aren’t traditional European big spenders. Toulon famously assembled galacticos to win three consecutive titles.
It does point, therefore, to a correlation between stable, high-revenue clubs and European success.
European rugby will be a hot topic across the next fortnight, with the round of 16 and quarter-finals taking place.
But when you watch each of the eight matches, take a look at just who is playing who. Is it two big revenue clubs clashing – like Munster’s trip to La Rochelle or Harlequins’ jaunt to Leinster – or is it a battle of the shoestring budget, when Glasgow try to upset Leicester Tigers?
Sometimes it is nice to think the underdog wins, but in the world of the Champions Cup – historically and now – usually money talks.