Ospreys have announced that the club made a loss of £1.8 million for the 2024/25 financial year but reiterate their intention to sign the Professional Rugby Agreement (PRA25).

The West Walian region’s losses have fallen compared to last year, from £2.18 million in the 2023/24 season.

The region saw their turnover drop £600,000 to £9.18m, with their wage bill falling from £6.75m to £6.4m.

Ospreys receive £5.4m in funding from the Welsh Rugby Union (WRU) along with financial support from owners Y11 Sports & media.

The region receive that funding as part of the previous Agreement with the Union – PRA23 – and state in their accounts that they intend to sign the updated deal.

In the Directors’ Report, signed off by Nicolas Angio-Morneau, Ospreys state: “Currently the PRA23 terminates on 30 June 2027, and The Company intends to sign the PRA25 imminently which runs to 30 June 2028.

“The Directors remains confident in the Company’s future development, supported by ongoing Shareholder backing and continued funding arrangements with the Welsh Rugby Union.

“The expected transition to the new Professional Rugby Agreement (PRA25) is anticipated to enhance financial stability through to at least June 2028 and beyond.”

The Directors’ Report also touches on the move from the Brewery Field in Bridgend to a new home at St Helens in Swansea.

The club announced last month that development had begun on a new stadium at the ground.

The Report added: “In addition, the proposed redevelopment and relocation to St Helens in Swansea represents a significant strategic opportunity to strength the Company’s long-term sustainability and growth prospects.”

There was no sign in the accounts of any new loans. The current outstanding loans stand at £3.44m, the majority being the WRU post-covid loan over 19 years.

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