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

Marty McKenzie nails bench role at Crusaders, McNicholl back from injury Clear-headed Teihorangi Walden focuses on new opportunity at Highlanders Chiefs' punt paying off for Kane Hames as he gets another shot at Super Rugby Waratahs assistant coach Nathan Grey gives Leolin Zas red card a green light Super Rugby Team Talk: Is Taranaki happy with the Chiefs, and move over Fitzy Time for Crusaders to shine in Super Rugby without Nemani Nadolo Dean Mumm owns up to spreading illness on NSW Waratahs tour to South Africa Waisake Naholo, Marty Banks poised for return to injury-hit Highlanders Several question marks for Chiefs team ahead of local derby with Highlanders Super Rugby sensation Damian McKenzie re-signs with Chiefs for two years

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

Which 2015 NZ Super Rugby team looks best?

Blues

Chiefs

Crusaders

Highlanders

Hurricanes

Vote Result

Featured Promotions

Sponsored Content