{"id":8457,"date":"2023-12-01T17:03:55","date_gmt":"2023-12-01T22:03:55","guid":{"rendered":"https:\/\/newssprinters.com\/index.php\/sport\/rfu-all-debt-from-covid-impact-years-paid-off-but-significant-loss-expected-next-year-rugby-union-news\/01\/12\/2023\/"},"modified":"2023-12-01T17:03:55","modified_gmt":"2023-12-01T22:03:55","slug":"rfu-all-debt-from-covid-impact-years-paid-off-but-significant-loss-expected-next-year-rugby-union-news","status":"publish","type":"post","link":"https:\/\/newssprinters.com\/index.php\/sport\/rfu-all-debt-from-covid-impact-years-paid-off-but-significant-loss-expected-next-year-rugby-union-news\/01\/12\/2023\/","title":{"rendered":"RFU: All debt from Covid-impact years paid off but ‘significant loss’ expected next year | Rugby Union News"},"content":{"rendered":"

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\n RFU CEO Bill Sweeney: “In a very difficult financial environment, the RFU achieved an operating profit of \u00a34m due to robust financial management”; RFU: “Next year, as Autumn Internationals were replaced by the Rugby World Cup, the 2023\/24 annual results will show a significant loss” <\/h2>\n
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Last Updated: 01\/12\/23 9:14pm<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n The RFU has revealed all their Covid-impacted debt has now been paid off <\/p>\n<\/figure>\n<\/div>\n

The Rugby Football Union has paid off all its debts from the Covid-impacted years and reported an operating profit of \u00a34m for 2022\/23.<\/p>\n

Revenues for the year were \u00a3221.4m, up from \u00a3189.1m, although the operating profit figure of \u00a34m is down from \u00a315m.<\/p>\n

The English game’s governing body holds \u00a324.9m in cash and \u00a325m in deposits, as well as a P&L reserve of \u00a3123.3m.<\/p>\n

An increased investment into England teams from \u00a320.8m to \u00a325.5m is partially explained by the cost of sacking Eddie Jones and appointment of Steve Borthwick and his assistants.<\/p>\n

However, The RFU also said that next year’s results will show a “significant loss”.<\/p>\n

“Rugby finances work in four-year cycles based on the number of men’s home internationals staged at Twickenham Stadium. 22\/23 is the third year in the Rugby World Cup cycle when there are the highest number of home internationals at Twickenham Stadium and, as such, these higher revenues were expected.<\/p>\n

“Next year, as England Autumn Internationals were replaced by the men’s Rugby World Cup, the 2023\/24 annual results will show a significant loss.”<\/p>\n

RFU chief executive Bill Sweeney said: “Wasps, Worcester, and London Irish going into administration was the single most defining aspect of the men’s professional game last season.<\/p>\n

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