Player costs and recession hit Reds

RISING player costs and a dip in the general retail market reduced Munster Rugby’s forecasted cash surplus for the year to June 30 by almost €300,000.

In figures presented to the Munster Branch AGM at Midleton RFC, the forecast cash flow surplus is forecast to dip from €758,000 at June 30, 2010 to €471,000, a falling off of €287,000.

Chief contributory factors cited to delegates by Munster Rugby financial controller Philip Quinn were a 17 per cent drop in its store sales, although they are still on track to break even this year, and a 14 per cent rise in player costs to €2.4 million for the professional squad, who were crowned Magners League champions last Saturday.