Harlequins Have the Biggest Turnover in the Premiership. They Still Missed the Play-offs.

In the 2024-25 season covered by these accounts, Harlequins finished 7th in the Premiership with 48 points, missing the play-offs by a distance that will have disappointed a club with genuine Twickenham Stoop crowds and a London commercial base. Their Champions Cup campaign ended painfully in the round of 16, thrashed 62-0 away at Leinster, the heaviest defeat of any English club's European knockout tie that season.

Yet the accounts tell a different story about scale. Turnover of around £29m is the highest of any club in this dataset, ahead of every other Premiership side here, a reflection of matchday income, sponsorship and a strong London commercial operation. Despite that, Harlequins still posted a pre-tax loss of close to £3.5m, and net assets sit at roughly minus £10m.

Staff costs of around £15m were broadly in line with the division's bigger spenders, so the gap between Quins and the play-off places wasn't obviously a budget problem. It looks more like a season where results didn't match resources, the kind of campaign that puts pressure on recruitment and coaching decisions ahead of the following year regardless of the turnover figures.

Cash in the bank was around £1m, a modest but real cushion compared with some rivals running on empty, even as the wider balance sheet remains in negative territory.

Turnover vs staff costs, FY2024-25