Gloucester Rugby call on fans for investment fund raise
Gloucester Rugby are set to announce plans for a fan-led fund raise in a bid to “protect the future” of the club.
The Cherry and Whites last year added City fund manager Jack Ingles to an investor group that comprises majority owner Martin St Quinton and minority shareholder Tim Griffiths.
But the Prem Rugby club made a loss of around £500,000 in their latest accounts as the English game continues to struggle to turn a profit – their dip into the red from turnover of £14.9m was the smallest loss among the 10 clubs.
Now Gloucester are calling on fans to help fund the future of the club through what they’re calling “A Piece of Holm” – a reference to the club’s ground Kingsholm.
“A Piece of Holm is seeking to raise investment to support Gloucester Rugby’s ambition to realise its vision, developing local, home-grown talent to create a world class environment for future Cherry and White greats,” reads a statement on Republic, an investment platform mainly for start-ups, crypto and web3 businesses.
“Investment will go directly to the academy system and training centre at Kingsholm, creating an unrivalled space to grow and develop our talent pool, across both women and men’s teams, contributing to our key objective; a sustainable professional rugby business, protecting the future of this great Club and its place at the heart of the community.”
Gloucester Rugby raise
Gloucester are currently ninth in the 10-team Prem Rugby table and are one of two clubs – alongside the Newcastle Red Bulls – yet to pick up a win after four rounds.
The adjacent women’s team – Gloucester-Hartpury – have won three consecutive PWR domestic titles.
And the funding call comes amid a backdrop of uncertainty surrounding rugby in England: the top flight Prem Rugby is set to vote on relegation rules; a rebel R360 league could poach many of the league’s best overseas players; and the overall financial state of the sport is fragile amid loans owed to DCMS for Covid-19 bailouts.
City PM approached the club for comment.