Taunton Tighten Purse Strings

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Following the launch of Taunton's long-term ‘Dare to Dream’ plan to bring RFU Championship rugby to Hyde Park, the club have announced a tightening of their purse strings.

Talking to 1st XV players, Director of Rugby Lee Waddon informed his squad that the playing budget was to be reduced for the remainder of the season. Waddon went on to say that plans have been launched to increase incomes, including offering naming rights to the impressive Hyde Park grounds and conferencing complex.

He said, “The continued global recession, together with fallout from the tragic events of 4th November, have combined to greatly impact on the Club.

“Like everyone else in the country, we are tightening our belt to weather the storm. We find we are unable to meet our current playing costs from revenue income, and have reluctantly made the decision to make cuts to the 1st XV playing budget.

“Gates are rising and ambitious development plans are being launched to address the issue as our ‘Dare to Dream’ initiative gets underway.”

In his statement Waddon informed players the club management committee had considered the funding issue and decided it best to introduce short-term cut backs as opposed to borrowing against assets.

A specialist marketing and promotions team has been formed to drive up trading at the club’s business conference and events complex. Management committee member Colin Gould said, “We have excellent seminar facilities at Hyde Park, with six fully serviced conference rooms of varying sizes to accommodate both small and large numbers. We have an events complex and already host many successful private functions, weddings and party events.

“We also have a growing tribute band season that is becoming increasingly popular. Our weekly Sunday carvery and restaurant facilities continue to do well, and have plenty of potential to grow further. Our aim is to drive up business to increase income streams and not to borrow against assets.

“RFU Championship rugby for Taunton is our long-term aspiration, and having just launched the ‘Dare to Dream’ initiative, planned as a progressive three to five year program, we cannot allow a short-term overspend to jeopardise our long-term plans.”