Munster Could Be Set To Take A Drastic Measure To Raise Funds That Will Upset A Lot Of Fans
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Munster Rugby are once again contemplating selling the naming rights to Thomond Park in a move that will likely upset their fanbase.
The current worldwide situation has hit sporting organisations across the world hard financially with gate receipts and broadcast revenue almost non-existent due to the postponement of sports.
Selling the naming rights to Thomond Park is an idea that has been floated ever since the province spent tens of millions to redevelop the famous stadium in 2008 – but it has long been met with backlash by Munster’s hardcore fanbase.
The province still owe the IRFU a considerable amount of money as part of a loan to transform the stadium into one of the best rugby venues in Europe – and selling the naming rights on the back of the current crisis might now be inevitable.
Speaking to the media yesterday via a conference call, Munster CEO Ian Flanagan said selling the rights to Thomond Park is one of a number of money-making schemes on the table for the cash-strapped province.
“I think we’re overly reliant on match-day income and that probably is a common scenario at a number of other clubs,” Flanagan said.
“And, what this period has proven is that an over-reliance on match-day revenue in this time where you can’t play games and get people in stadiums is extremely damaging to the revenues.
“We have to, as best we can find other ways of generating income and growing the revenue base. So, it is a big strategic avenue for us and we’ve put a lot of time and thought into it.
“Some of our plans may be delayed, but we’re looking to move on with them even in the midst of this. It’s undeniably going to be a tough commercial marketplace out there for the foreseeable future.
“I don’t think any company has been unaffected by this but naming rights to Thomond Park is one of the things on the table. It’s one of the things we’re exploring at the moment.
We have a new Head of Commercial and Marketing [Dave Kavanagh] in situ since the start of this year and yes it’s one of the things we’re actively investigating but there’s nothing to report in that space yet.”