Bay of Plenty Rugby will announce a record operating loss at its annual meeting tomorrow in Rotorua.

The deficit of $759,058 dwarfs last year's loss of $166,422 and is nearly three times the previous worst loss recorded in 2003. It comes just two years after a near $500,000 profit.

The union's financial position and reports by its chairman and acting chief executive, Stuart Harvey, are likely to cause much discussion at tomorrow's meeting at Rotorua's Whakarewarewa Rugby Club.

Harvey's combined report is damning on the performance of the union, on and off the field, in the last 12 months.

The names roll off the tongue. Levave, Harding, May, Hopgood, Bruce. Yes folks, meet the 2008 edition of those perennial under-achievers, the not so mighty Waikato Chiefs.

2008 Chiefs squad: Ben Castle, Simms Davison, Tanerau Latimer, Jamie Nutbrown (BOP), Ben May (Tasman), Craig West, Aled de Malmanche, Tom Willis, Jono Gibbes, Toby Lynn, Kevin O'Neill, Sione Lauaki, Liam Messam, Brendon Leonard, Stephen Donald, Richard Kahui, Sosene Anesi, Mils Muliaina, Sitiveni Sivivatu, Dwayne Sweeney (Waikato), Kristian Ormsby, Tasesa Lavea, Lelia Masaga (Counties-Manukau), Tom Harding, Fafili Levave (Wellington), Hayden Hopgood (Canterbury), Callum Bruce (Otago), Viliame Waqaseduadua (North Harbour).

4 Bay players this time around and Mike Delany has been drafted into the Highlanders.