TONY Rowe has confirmed the search for new investors into Exeter Chiefs has begun as he looks to safeguard the long-term future of the Premiership club.
Rowe has been the driving force behind the Devon club for in excess of 20 years, investing millions of pounds into helping the Chiefs rise out of the National Leagues to that of English and European champions.
Exeter’s long-serving chairman and chief executive, however, has warned that things will have to change moving forward, including the likelihood of the club moving away from being run by the members.
“We do have to look at things,” said Rowe, right. “I’ve already told the members that the club can’t continue as a members club. The challenge has been, what with Covid and the lockdown, having to play behind closed doors, we were losing nearly a million pound a month.
“On top of that, just when things should have started to get better, we had the energy crisis and that led to inflation. The consequence of that is that over the last four years we’ve lost £17.5 million and that’s a big chunk of money for a club to lose.
“I’ve bought the hotel off the club, which has enabled the club to keep afloat, but the reality is that beyond this, if we were to have another financial crisis, where’s the club going?
“We’re chatting to people and looking for investment and the end result will be, as I said, the club will eventually not be a members club. Turnover now is in excess of £20m and that’s too big to be a members club.
“Are the members happy with that? I’m not sure they are, but if they’re realists and they want the club to survive, it needs to happen. Any actions we take will obviously need to be sanctioned by the members, but it’s about making sure the club can survive and go on for another 150 years.”
Rowe admits there are numerous challenges that clubs face currently, particularly around funding and he
insists changes need to be made to ensure future prosperity all round.
“One of the challenges we have with English rugby at the moment is that we’re massively underfunded,” added Rowe. “Our TV contract is £5m less than it was last year, so it’s all wrong.
“One of the problems English rugby has got is that we’ve got to get more sponsorship into the game. I think some of that is down to the fact that we’ve tried to portray the game as a safe game, yet everybody’s running scared of head injuries.
Rugby is a gladiatorial sport and we should promote it as that part. The young men entering the game today know exactly what the game is about and it’s safer than it’s ever been.
“The guys that are suffering from head injuries, they were playing in the old days, a lot of them maybe pre-professional rugby. The physio on the pitch had a bucket and a sponge and that was it. You’d take a bang on the head, you’d shake your head, and on you went.
“As a sport we’ve moved on. Although it’s got tougher and quicker, it’s much safer and we need to promote it. It’s a fantastic spectacle, 30 fit men running at each other, it’s just brilliant to watch.”
Not that watching the Chiefs this season has been particularly enjoyable for Rowe and the Exeter fan-base, who have seen their side lose their opening six games in the Premiership.
It’s left the Devonians one off the foot of the table, only Newcastle Falcons sit below them, but Rowe is confident that the tide will turn and that the youthful Chiefs will rediscover their winning formula in the league after claiming victories in their two matches in the Premiership Cup.
“We got into a losing run, which has happened previously, and we couldn’t get out of it,” said Rowe. “I think the break from the Premiership has come at a good time for us, we’ve won a couple of games in the cup, and you can see the team have grown with confidence recently.
“I’m very optimistic moving forward because we’ve got so much talent in our squad. Rob (Baxter, director of rugby) and I have chatted about things – and in my position I’ve got to stay abreast of everything – but we’ve been working together for 25 years. Sometimes we don’t have to have a discussion to know that things have to change.
“It just needs to click one day – and it will click! If we can get a good cup run together, that will build a lot of confidence. If you go back to 2014, when we won the LV= Cup for the first time, that was the trigger for the guys to have confidence and move forward.
“If we can have a good cup run, then perhaps finish up around fourth in the Premiership, that’s a realistic goal. Every season is two halves, so if the guys can come back after Christmas with a bit more confidence, I think we’ll be all right.”
