RFU Announces 2019 Profit After Losses In Previous Year
The RFU has published its annual accounting report, which shows the organisation made an operating profit of £14.9m in the 2018/19 season.
The news comes after the governing body for rugby in England posted an operating loss of £24.4m in the year prior.
The RFU also says it invested £100.5m in the professional and grassroots game, and after that reinvestment, 2018/19 profits stood at £3.9m. The previous year saw a post-investment loss of £30.9m.
RFU Chairman, Andy Cosslett said: “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.”
Bill Sweeney, CEO, RFU 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.”
