Bristol make cash plea

Bottom club in need of 'significant investment'

Last updated: 19th November 2008

Bristol make cash plea

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Bristol have confirmed they need significant investment if they are to survive in the Guinness Premiership.

The club currently operates on the smallest budgets in the Premiership but operate a £1million annual loss - with a small group of investors covering the shortfall.

However with the credit crunch and attendances dropping by 20 per cent, Bristol are attempting to raise £2.5m-a-year from other sources.

Chief executive Steve Gorvett said: "If we want to compete at the top end of the league and bring Heineken Cup rugby here again we need to have the funding in place.

"We are talking to several groups about new funding, including some of our current investors, but in simple terms we need to find an additional £2m to £2.5m-a-year to compete.

"The board believes that by raising the public awareness that we are looking for investment, a new group may come forward. Our over-riding interest is securing the best future for Bristol."

Bristol, who are bottom of the table, spend £1m less than their rivals on their squad - and were against the raising of the salary cap to £4m this season.