Ulster Rugby is going through a “period of readjustment” with its finances, “Ulsters are also in search of new sponsorship” Says CEO Jonny Petrie

CEO of Ulster Jonny Petrie said the organization is “working with the IRFU to get to a sustainable solution” for the URC side’s financial problems.
Petrie clarified that expenditure has been affected by “other factors largely outside of our control” as well as increasing costs.
There will be a readjustment phase “this year and into next year,” he continued.
Petrie stated that “our top players are staying at Ulster” in spite of this.
In the wake of Dan McFarland’s resignation as head coach after a dismal start to the season, the CEO was talking with Ulster season ticket holders about a variety of topics.

Following the conclusion of the Under-20s Six Nations, Ireland Under-20s coach Richie Murphy assumed interim leadership for Saturday’s URC victory over the Dragons, replacing Ulster assistant coach Dan Soper. Murphy’s tenure will last until the end of the season.

• ‘Relief’ for Soper as Ulster reassembles following McFarland’s departure
• ‘Inconsistency’ compelled Ulster to adapt – Petrie

Ulster is likewise looking for a new sponsor because their long-term agreement with Kingspan is about to expire in 2025.

“In a model that relies heavily on gate revenues, we now have fewer home matches to be able to generate additional income, alongside those inflationary aspects and some adjustments to our various sources of external funding,” Petrie stated.

Petrie stated: “In time, we hope to use the 3G pitch to diversify our income streams, whilst ensuring we’re respectful of local residents.” This was a suggestion to open Kingspan Stadium to other events.

“No players leaving in large numbers”

Ulster finished second from bottom in their group in the Investec Champions Cup, and they now sit fifth in the United Rugby Championship.

“It is completely untrue to hear about a mass exodus of players. We’ll have a group that is just as powerful, if not more so, heading into next season,” stated Petrie.

“We have some really fantastic talent coming through the Academy and the routes, and they are all people who have begun to perform this year, which is why players are going on. It’s true that the team has seen some changes.

“Changes at the head coach position are never easy, and these past few weeks have been particularly trying. Our squad is really strong and is made up of brilliant players who haven’t been performing to their full potential.

Richie’s temporary replacement, for starters, excites me as well. The team has several experienced players, but there are also some younger players that need coaching because they aren’t playing at their best.

“He’s a coach with a good track record of getting the best out of a group of young players, as shown extraordinarily well with the Ireland U20s, and Richie knows a lot of the guys already.”

“Experienced, with a real sense of everything that’s going on in the game, and he will take more of a lead on all aspects of the professional game through to the end of the season,” Petrie added in support of Bryn Cunningham, head of operations and recruitment.