The Ospreys have reported a reduced annual loss of £1.8 million for the period ending June 2025, down from £2.18 million the previous year, while their owners insist a new Professional Rugby Agreement (PRA) is on the verge of being signed.
Turnover dropped by £600,000 to £9.18 million, and the wage bill decreased from £6.75 million to £6.4 million. The Welsh side received £5.4 million in funding from the Welsh Rugby Union (WRU), supplemented by support from owners Y11 Sports & Media.
In the accounts, director Nicolas Angio-Morneau expressed confidence that Y11 would continue backing the club under the existing funding obligations. He stated, "Currently the PRA23 terminates on 30 June 2027 and the company intends to sign the PRA25 imminently, which runs to 30 June 2028."
The accounts also noted: "The directors remain confident in the company's future development, supported by ongoing shareholder backing and continued funding arrangements with the WRU. The expected transition to the new PRA is anticipated to enhance financial stability through to at least June 2028 and beyond."
Additionally, the proposed redevelopment and relocation to St Helens in Swansea is seen as a strategic move to strengthen long-term sustainability.
No major new loans were recorded. Current loans stand at £3.44 million, mostly the WRU post-COVID loan spread over 19 years.
The Ospreys have faced a difficult season, with uncertainty heightened by the WRU's October 2025 announcement of plans to cut one of Wales' four professional sides. Fans and players feared the Ospreys were the target, especially after January 2026 news that owners Y11 were the preferred bidder to buy Cardiff. However, that deal collapsed in April, with the WRU confirming the four sides would continue unchanged until the end of 2027-28.