RFU Annual Report for 2018/19 shows £100.5 Million Investment in Rugby
The Rugby Football Union (RFU) Annual Report and Accounts for 2018/19 is published today. The report highlights rugby investment of £100.5 million. This includes investment in the professional game and community game.
The financial outcome for season 2018/19 saw total group revenues of £213.2m (prior year £172.4m), operating profit of £14.9m (prior year loss of £24.4m) and profit to reserves (after reinvestment in the game) of £3.9m (prior year loss of £30.9m).
The improvement on the previous year was mainly due to stronger sponsorship revenues, more international matches played at Twickenham, a reduction in overall rugby investment and lower overheads. At the end of the year, outstanding bank loans totalled £59.5m (2018: £44.3m).
Said RFU Chairman, Andy Cosslett: “The Union made good progress on a number of fronts despite the financial constraints we placed on ourselves.
“Maintaining the Union’s financial stability requires prudent planning, financial discipline and, when necessary, strong action to be taken on costs. Over the past two years we have felt it necessary to take such action in response to revenues falling short of some ambitious forecasts and a more uncertain outlook. Parts of the game that rely on our financial support and many RFU departments were asked to cut back. While this work has been difficult and presented challenges, investment levels in the game remain high. During the year, the RFU invested £100.5m (2018: £107.7m) in the game, and the financial position of the Union has strengthened.”
CEO Bill Sweeney added: “Twickenham Stadium generate 85% of our revenues to invest in the game at both the performance and community levels. We welcomed 1.2 million people across 22 major events during the year and the East Stand, which opened for the autumn’s Quilter Internationals, brought excellent feedback and added to the stadium’s status as a world-class venue.
“Numbers taking part in rugby union have remained stable, against a general downward trend in team sports over the past 12 months. Building upon an inherently healthy community game, we continue to focus on sustaining and enhancing men’s XV-a-side rugby, while growing women’s and girls’ playing numbers, which have substantially increased.
“We are all proud of what we do to inspire the next generation to participate and enrich their lives through the unique values of rugby, and we are committed to working with key stakeholders in the English game to deliver consistently winning English national teams and a flourishing community game.”
For full report click here