Crusaders $87,000 post-earthquake profit

Last updated 14:33 19/12/2012
AMI Stadium

Crusaders fans show their delight during the Super Rugby match against the Bulls at the new AMI stadium.

Relevant offers

Super Rugby

Japan Super Rugby team 'preferred location' Singapore Super Rugby bid conceding defeat Japan bid no longer shoo-in for Super Rugby Robbie Fruean linked with a Crusaders return Highlanders add more to their Tasman stocks Super Rugby will miss All Blacks for first round Dave Rennie on the hunt for another halfback Chiefs snap up Bryce Heem and Sean Polwart Move to Taranaki pays off for Iopu-Aso Chiefs add two forwards to Super Rugby squad

The Crusaders have rebounded from their struggles with the Christchurch earthquake to post an $87,147 profit for this year.

A new stadium and much more settled environment have seen them turn their financial struggles around.

The 2011 earthquakes forced the Crusaders on to the road for all of their matches last year as they operated at a $700,000 loss.

"We are very proud of this result, particularly given the ongoing difficulties that we are dealing with due to the earthquakes," Crusaders chairman Murray Ellis said. 

"We are still working through our business interruption insurance claim from last year, and the loss of the original AMI Stadium in the earthquakes will continue to hit our bottom line for some time due to the reduced capacity for ticket sales and other costs associated with the new stadium.

"In saying that, if it weren't for the new AMI Stadium at Addington, this year's surplus would not have been possible.  

"We are extremely grateful to the Government for driving this project and allowing our team to once again play at home in front of Christchurch and Canterbury fans.

"Crusaders CEO Hamish Riach said the ability to play at home was the single biggest factor contributing to the turnaround in the Crusaders' financial performance.

"If we subtract the extraordinarily high revenue from the match played in Twickenham in 2011, we grew match revenue by approximately 25 per cent this year. We also achieved a 136 per cent increase in sponsorship this year." Riach said.

Ellis believed the new licence to run the Crusaders announced yesterday would further add to the financial stability and commercial opportunities for the Crusaders heading into 2013 and beyond.

Ad Feedback

- Fairfax Media

Special offers
Opinion poll

What do you make of the Blues signing Jimmy Cowan?

It's a great move. His experience is needed.

The jury's still out for me. Let's wait and see.

It's a desperate move. Respectfully, Cowan is past it.

The Blues have bigger worries than halfback.

Vote Result

Related story: (See story)

Featured Promotions

Sponsored Content