Ospreys post £1.8m annual loss but say PRA is imminent

Ospreys have revealed they made a loss of £1.8m in their latest accounting period to June 2025, down from £2.18m in the previous 12 months.

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

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

Signing off the accounts, director Nicolas Angio-Morneau said they are confident that Y11 will continue to provide financial support under the contract terms included within the legally binding funding obligations under the RPI Deed of Undertaking and Professional Rugby Agreement 2023 (PRA23) Framework.

He added: "Currently the PRA23 terminates on 30 June 2027 and the company intends to sign the PRA25 imminently which runs to 30 June 2028."

The statement accompanying the accounts goes on: "The directors remain 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.

"In addition, the proposed redevelopment and relocation to St Helens in Swansea represents a significant strategic opportunity to strengthen the Company's long-term sustainability and growth prospects."

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

The Ospreys have endured a difficult season with question marks about its future following the WRU announcement in October 2025 they were planning to cut one of the four professional sides.

Ospreys' fans and players have feared they are being targeted, especially after the WRU announced in January 2026 that Ospreys owners were the preferred bidder to buy Cardiff, who were taken over by Welsh rugby's governing body in April 2025.

That deal with Y11 subsequently fell through in April with the WRU announcing that the four professional sides would exist in their current guise until the end of the 2027-28.

They have invited Ospreys and Scarlets to sign the new PRA which Dragons and Cardiff had already committed to.

But the WRU is pressing ahead with its policy of cutting a professional team by 2028 and has promised to outline how it plans to achieve that by the end of June.

Having played home games at the Brewery Field in Bridgend last season, work started this week on Ospreys new St Helen's home.

The region are hoping to play their first game in Swansea against the Dragons on 24 October.