Mark McCafferty: ‘The overall environment is one of careful confidence’

Though Exeter were the only Premiership club to post a profit in the last financial year the competition’s chief executive says the club game’s long-term financial future is rosyLast weekend Saracens won the Premiership for the third time in four seasons but in the tournament’s 20th anniversary a much-changed landscape has retained a feature that stood out in 1997. Most clubs are losing money and Nigel Wray, chairman of the champions, will be writing a cheque for a couple of million pounds this summer to balance the books.A difference now is that while a number of clubs in the 15 years after 1…