The Toulouse rugby club TO XIII avoids filing for bankruptcy thanks to public subsidies

2023-10-04 16:27:12

While the Rugby League World Cup has taken up residence in the Pink City with five matches at the Toulouse Stadium, the rugby union club is going through a turbulent period. On a sporting level, Toulouse Olympique XII hosts Bradford this weekend in the semi-final of the Championship and can hope for a return to the Super League. An accession which would relieve worrying finances, which required the mobilization of local authorities to avoid bankruptcy.

In the process of taking over while its president Bernard Sarrazin is preparing to hand over the reins to Olivier Dubois, the club posted a significant deficit. Thanks to a capital increase, the future president, also director of the Autobuy company, made up part of it, to the tune of 300,000 euros. But around 300,000 euros were still missing, according to sources, to keep the TO XIII afloat. “The buyers analyzed the financial situation and, if they decided to invest personally, they contacted the Town Hall, which also asked us for our support,” explains Kamel Chibli, vice-president of the regional council in charge of Sports. .

70,000 euros from the department

“To avoid filing for bankruptcy that no one wants, the departmental council will provide this emblematic club on an exceptional basis with 70,000 euros, which are added to the 70,000 euros already paid in December 2022,” indicated the department of Haute- Garonne. Added to this the exceptional subsidy of 110,000 euros voted by the municipal council and the 50,000 euros from the Occitanie region, in the form of sponsorship of matches in particular, and the TO XIII will receive 230,000 euros in public aid. “We couldn’t lose TO XIII, it’s an emblematic club. This commitment allowed the buyers to feel confident,” assures the regional elected official, reassured by the organization and the project presented to the communities.

Kamel Chibli emphasizes, however, that the communities are “not there to overcome management problems”. In fact, this aid raises the question of a structural problem. By integrating the ranks of the English championship, the TO XIII plays one match in two across the Channel and must also face rental costs in Ernest-Wallon. A rise to the Super League would certainly bring more in TV rights for example, but could that solve everything? “The Catalan Dragons needed several years to stabilize in the elite. But we are vigilant and the buyers have a great project,” the region’s elected official wants to believe.