Ulster Rugby is currently facing a significant financial deficit of between £2.5 million and £3 million, according to the club’s new chief executive, Hugh McCaughey. Despite the grim financial figures, McCaughey remains optimistic about the future, projecting that the team will break even within two to three seasons.
Having assumed the CEO role on an interim basis in March, McCaughey’s position was confirmed until the end of 2025. With a strong background as a former health trust executive, he has already put a recovery plan in motion, aiming to stabilize the club’s finances while maintaining Ulster’s competitive edge on the field.
“We have agreed on a financial plan which we are confident in and which will return us to stability and break even within two to three seasons,” McCaughey said. The plan is centered on generating income through sponsorships and maintaining strong fan support. He emphasized that it’s not a “slash and burn” strategy but one that seeks to balance the books while supporting the needs of both the staff and players.
Optimistic about the club’s future, McCaughey revealed that initial projections over the past few months suggest Ulster is already on the path to recovery. He highlighted the importance of prudence in recruitment and budgeting for the next two seasons, aiming to create long-term stability for the team.
Ulster is also actively seeking new sponsorships, with McCaughey confident of securing a major backer after the club’s association with Kingspan ends next year. Having followed Ulster for over four decades, he is determined to foster a sense of unity and progress within the organization, focusing on a family-like environment to drive success.
McCaughey concluded, “I see my role as bringing leadership, stability, and creating the right environment for continued improvement. Everyone in the Ulster rugby family has a part to play in this journey, and we are building the right conditions for success.”
