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Rugby Australia announced a $27.1 million loss for 2020 at its annual general meeting on Thursday, with chairman Hamish McLennan labelling the governing bodys balance sheet horrible following a 12-month period significantly affected by COVID-19.
Yet in light of RA shedding $31.2 million in costs last year, McLennan has hit out at unnecessary spending by previous administrations, saying it was a missed opportunity to have not invested more into grassroots rugby each year.
The Wallabies during last years Tri-Nations. Credit:Getty
The full extent of RAs financial predicament has been laid bare, with the governing body recording a 41 per cent reduction ($45.7m) in revenue in 2020.
This was due to a reduction in broadcast revenue from fewer home Tests, a significant drop in gate takings, while trying to continue to maintain a massive cost base as COVID-19 halted matches from March until July and impacted the Test calendar.
While a $27.1 million deficit does not make for pretty reading, in comparison, New Zealand Rugby announced on Thursday a loss of NZ$34 million ($A31.6 million) last year.
However, NZR had a 26 per cent decline in revenue, compared to RAs 41 per cent.
The Wallabies played only six Tests in 2020 and RA was forced to split profits with New Zealand and Argentina during a condensed Tri-Nations tournament, hosted in Australia.
Its a tough set of results during a nightmare COVID-19 year, McLennan told the Herald. In truth, the balance sheet is horrible but weve kept the game alive and were fighting on and making real progress.
All codes have lost money, which is a fact of life.

On By marabye

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