“It’s imperative that we improve the facilities at Ravenhill” said Chief Executive Michael Reid, “in the past 6-12 months the business of rugby has changed rapidly, and an investment in our facilities is absolutely vital if we are to cement our position and compete”

The first phase of the redevelopment programme, which is to build a new stand on the terrace side of the ground, has been officially unveilled today to the public, following a soft-launch to partners and sponsors at the end of March.

Last year Ulster Rugby generated a turnover of £3.5m marking a 50% rise since 2005 and a transformation from the dawn of professionalism. However, in the intervening years, as turnover has risen, so have the costs, specifically around the recruitment and retention of players.

“First and foremost we need an investment in players which will bring results on the pitch, increased crowds and the financial windfalls and bonuses that come with participation in the latter stages of competition” said Reid, “We have an excellent Academy structure but it’s getting harder to retain local players who are lured by the financial packages and lifestyles offered by other clubs”

“Since the Rugby World Cup in October 2007 there’s been an explosion in player value with top players commanding salaries in excess of £400,000 a year and this makes the improvements to Ravenhill so important.”

“Secondly, we have to be able to offer more to our corporate customers and really capitalise on the growth of popularity of rugby” says Reid.

“The Friday night feeling at Ravenhill is no longer something new to our seasoned supporters and if we want to retain them, as well as benefit from what the corporate market can offer us then upgrading the facilities within the ground is key.”

The new stand, which will be operational for September 2009 will cost £4.5 million to build and the project will be almost entirely financed through commercial income.

Boasting 20 corporate boxes and 530 premium seats as well as an exclusive glass front bar/lounge facility offering an elevated view of the Ravenhill pitch, the new grandstand will provide opportunities for individuals and organisations to enjoy rugby at Ravenhill in more comfort than ever before.

And Ulster Rugby is taking a slightly different approach to selling some of what is on offer; “The bulk of selling will be done through our Commercial Team, but we have a small group of high-level, influential business people who are closely associated with the club working as advocates on our behalf, concentrating particularly on recruiting our Patrons” said Reid. “We’re looking for just 25 members to join this exclusive club and as well as offering their financial support they’ll provide an excellent sounding board for us moving forward”

“In Ireland, rugby is structured very differently to England and Wales where clubs are privately backed by wealthy investors, and while at this stage, we’re not in a position to offer a benefactor a direct say in running the club, the IRFU are currently undertaking a Review of Governance which will consider alternative models.”

Financial projections expect that the new stand will be self-financing by it’s third year of operation at which stage the next step in the ground redevelopment process, which is to build a new stand at the Memorial end of the ground, will have begun.

For more information on opportunities available within the new stand at Ravenhill, please contact Lyndsey Irwin at Ulster Rugby on 028 9049 3222.