Rugby Australia Eyes Financial Recovery with Lions Tour and 2027 World Cup Amid $23m Loss
Source: news.source.channelnewsasia
Rugby Australia (RA) reported a significant financial loss of A$36.80 million for 2024, attributed to costs associated with integrating Super Rugby teams and supporting the Melbourne Rebels before their collapse. Despite the deficit, RA remains optimistic about future revenues from the upcoming British and Irish Lions tour and the 2027 Rugby World Cup, which they hope will lead to a financial turnaround. The organization also anticipates a new broadcasting deal and the appointment of a new Wallabies coach to bolster their recovery efforts.
Key Points
Rugby Australia reported a A$36.80 million loss for 2024, exacerbated by costs related to Super Rugby team integration and the Melbourne Rebels' collapse.
Despite the financial setback, RA is optimistic about future revenue from the British and Irish Lions tour and the 2027 Rugby World Cup.
RA spent over A$10 million on integrating the ACT Brumbies and New South Wales Waratahs and more than A$5 million on the Melbourne Rebels' administration and exit.
The organization is forecasting a record surplus in 2025 due to the Lions tour and plans to exit an A$80 million loan.
A new broadcasting deal with Nine Entertainment starting in 2026 is expected to be on better terms than the previous agreement.
Rugby Australia is set to announce a new Wallabies coach to replace Joe Schmidt, with Les Kiss being a favored candidate.
