RBR Advisory can point to a number of high-profile appointments and case studies relating to expert deliverables in the world of sport. Our partner-led team comprises a number of key personnel who have sat on boards at professional football clubs and rugby clubs, or advised on strategic change from an external position.
We regularly work with banks, lenders, lawyers and investors in addition to key decision makes in sporting organisations, and have an outstanding reputation in the sector, particularly in relation to football.
Our football cases have turned clubs around from the brink of financial ruin to long-term stabilisation, for example, Southampton FC, AFC Bournemouth and, more recently, Hull City FC. We have handled the administrations of Port Vale FC, Wrexham FC, Swindon Town FC, and also Coventry Rugby FC in recent years.
On the advisory front, we have provided forensic accounting evidence for Glasgow Rangers FC, worked on loss calculations for a number of elite sports personnel, provided due diligence on the sale and purchases of football clubs, investigated employee fraud at a sporting institution, and worked with various golf clubs on matters relating to debt restructuring and turnaround.
Our skills are widely recognised and we pride ourselves on providing transparency and honesty to both management and supporters and ensure that we do not over-promise just to create pleasant reading or soundbytes.
We were appointed joint administrators to AFC Bournemouth in 2008, when the club had debts of around £4m and we came very close to liquidating the business.
It was rescued at the eleventh hour thanks to huge support from its loyal fan base and the good grace of its current chairman, who provided the funds for the following month. Between them, the Chairman and the supporters enabled the club to survive the ordeal and move out of administration, although not relegation.
But whilst they kept their faith in the club, throwing it a lifeline worth hundreds of thousands of pounds, few envisaged that the turnaround would result in promotion to the Premiership – particularly in such a short space of time.
Bournemouth now ranks amongst England’s top teams and the value of the club is now likely to exceed £120m. In May 2018, AFC Bournemouth CEO Neill Blake said: “The club is in a more secure position than it has ever been, with significant progress made regarding infrastructure and facilities to ensure that it continues to build on its success.”
This turnaround is nothing short of miraculous and is a great case study in football’s resilience.
If you would like to speak with one of our Partners on financial matters relating to sports organisations, there is a wealth of knowledge at your disposal with Gerald Krasner (formerly CEO of Leeds United FC) and Julie Palmer (huge sporting knowledge and the firm’s principal media spokesperson) available for a consultation at your convenience.