ENGLAND’S GOVERNING RUGBY Football Union (RFU) revealed on Wednesday that revenue for the financial year 2020/21 stood at £120 million (€143 million) less than pre-coronavirus forecasts.
Reported revenue is £97m, down from £167m in the previous year.
An underlying loss to reserves of £21.3m is £30m worse than pre-Covid forecasts.
Advertisement
But the RFU, which welcomed back capacity crowds of 82,000 to its Twickenham headquarters for this month’s England internationals, said financial stability had been achieved through a combination of 119 redundancies, a debenture donation and emergency backing from the British government.
Long one of rugby union’s wealthiest national governing bodies, the RFU received £2.3 million from the government’s coronavirus job retention scheme and £2.25 million in business rates relief.
Investment in professional rugby for the year totalled £40.3 million in the year under review compared to £66.4m in the previous year.
“This 150th year of the RFU has been an immensely challenging one for the union and our sport,” said Bill Sweeney, the RFU’s chief executive, in a statement issued after the publication of the governing body’s annual report.
“We have worked harder than ever before to support the professional and community game though the pandemic, with a clearly focused strategic plan to ensure we deliver real benefit and support to the game.
“As we emerge out of Covid, the RFU will continue to take a leadership role in reshaping and improving the game for the benefit of all involved.”
To embed this post, copy the code below on your site
Close
Comments
This is YOUR comments community. Stay civil, stay constructive, stay on topic.
Please familiarise yourself with our comments policy
here
before taking part.
England's RFU facing £120 million drop in revenue due to pandemic
ENGLAND’S GOVERNING RUGBY Football Union (RFU) revealed on Wednesday that revenue for the financial year 2020/21 stood at £120 million (€143 million) less than pre-coronavirus forecasts.
Reported revenue is £97m, down from £167m in the previous year.
An underlying loss to reserves of £21.3m is £30m worse than pre-Covid forecasts.
But the RFU, which welcomed back capacity crowds of 82,000 to its Twickenham headquarters for this month’s England internationals, said financial stability had been achieved through a combination of 119 redundancies, a debenture donation and emergency backing from the British government.
Long one of rugby union’s wealthiest national governing bodies, the RFU received £2.3 million from the government’s coronavirus job retention scheme and £2.25 million in business rates relief.
Investment in professional rugby for the year totalled £40.3 million in the year under review compared to £66.4m in the previous year.
“This 150th year of the RFU has been an immensely challenging one for the union and our sport,” said Bill Sweeney, the RFU’s chief executive, in a statement issued after the publication of the governing body’s annual report.
“We have worked harder than ever before to support the professional and community game though the pandemic, with a clearly focused strategic plan to ensure we deliver real benefit and support to the game.
“As we emerge out of Covid, the RFU will continue to take a leadership role in reshaping and improving the game for the benefit of all involved.”
© – AFP, 2021
To embed this post, copy the code below on your site
forecast