Crusaders Limited Partnership announce breakeven result for 2018
- Published: 16 December 2018
BNZ Crusaders Chairman Grant Jarrold has announced the financial result for 2018, as reported at the Annual General Meeting for the Crusaders Limited Partnership earlier this month.
“This month we were able to reflect on what has been another wonderful season for the BNZ Crusaders. The opportunity to host a Super Rugby Final for the first time in 10 years was truly remarkable, and to win the title in front of a sold-out crowd at Christchurch Stadium was a fantastic result for the BNZ Crusaders organisation, players, staff and fans," Mr Jarrold said.
“Of course, hosting three playoff games – against the Sharks, Hurricanes, and the Lions - effectively increased both our revenue and costs in 2018. Whilst playoff games are outstanding for our fans and players, they can be challenging financially especially when full houses are not achieved other than for the final.”
Jarrold said to reach a breakeven bottom line was disappointing for the organisation given the successful Crusade, however the business that drives the Crusaders on the field is in good shape, with strong support from commercial partners and sponsors: “What is pleasing is that plans for a new multi-use arena in Christchurch, announced by Government and Council, have advanced and provide a level of confidence that our fans who come to games at our temporary stadium will do so knowing that the future looks brighter. We look forward to more fans coming to Crusaders games to see our Championship team aim to make it three in a row in 2019.
“We are grateful for the commitment and ongoing support of our commercial partners, particularly our naming rights sponsor, BNZ. It was fantastic to be able to share in such a successful 2018 season with you all,” Mr Jarrold said.
Attendees of the AGM were also advised that Natalie Thain has been reappointed to the BNZ Crusaders Board for a further term and Scott Ford has also been appointed, replacing outgoing Board Member, Brent Isbister.
Mr Jarrold acknowledged the outstanding service that Mr Isbister provided to the organisation from 2016 to 2018, and welcomed Scott Ford to the Crusaders' Board: “On behalf of the Board, I’d like to thank Brent for his immense contribution to the BNZ Crusaders during his tenure. His strong background in rugby governance at both club and provincial level has proved invaluable, and we are fortunate for all of his time and energy, as well as the knowledge he has imparted over the last three years.
“Scott also has extensive experience in club rugby throughout the Crusaders’ region, and we are confident his passion for the community and provincial game, as well as his exceptional management skills, will be a strong addition to our existing Board.
“It was also fantastic to officially welcome Colin Mansbridge at the AGM, in what was just his first week in the role as Chief Executive,” Mr Jarrold said.