Sport, parks and leisure - 'Challenging times' ahead for rugby as RFU reports £30m losses...
20 Apr 2019 Sport, parks, & leisure: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

27 Nov 2018

'Challenging times' ahead for rugby as RFU reports £30m losses
BY Tom Walker

RFU invested a record £107.7m in the English game during the financial year

RFU invested a record £107.7m in the English game during the financial year

The Rugby Football Union (RFU) has posted losses of £30.9m for 2017-18 – a year in which the national governing body also made 54 staff members redundant.

The financial statement for the year ending 30 June 2018 shows that the RFU invested a record £107.7m in the English game in the last financial year – despite income falling by £12.5m.

Outgoing CEO Steve Brown said the RFU faces 'testing times' ahead.

"Looking back, 2017-18 clearly marks a transition point for the RFU, as it moves from a period of high growth and investment in the game to a more challenging time," Brown said.

Chair Andy Cosslett added that the sport's landscape was "rapidly changing" – and that the organisation must adapt to the changing tide.

This will include the need to reduce RFU's level of annual investment in rugby from the current average of £100m to around £95m.

"Over the past few years we have enjoyed revenue growth in a buoyant sports market," he said.

"During this period of exceptional growth we've been able to increase significantly the amount of investment going back into the game, while maintaining the sound financial position of the Union.

"The situation, though, is changing. Market conditions have been getting tougher and it is clear we can no longer rely on the predictable uplifts in revenues we have seen in recent years.

"As a result we are taking action now to cut our cost base to a more sustainable level and reinforcing our financial disciplines."

The publication comes a week after CEO Steve Brown announced he would be stepping down as after just 14 months in the role.

He insisted that the decision was unrelated to the financial losses of the past year.

To download and read the RFU's annual financial report in full, click here.



Connect with
Sport Parks Leisure
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Mytime Active signs signs 40-year leisure deal with Bromley Council
Mytime Active signs signs 40-year leisure deal with Bromley Council   18 Apr 2019

Social enterprise Mytime Active has signed a 40-year deal to run 12 leisure facilities in London on behalf of Bromley Council. The deal will include .... more>>
FA announces £376m turnover for 2017-18 – invests record £128m back into sport
FA announces £376m turnover for 2017-18 – invests record £128m back into sport   17 Apr 2019

The Football Association (FA) invested a record £128m into English football during 2017-18. Reporting its results for the financial year ending 31 .... more>>
ECB to explore gaming and esports opportunities
ECB to explore gaming and esports opportunities   15 Apr 2019

The English and Wales Cricket Board (ECB) has embarked on a project to evaluate the potential of video gaming and esports as a platform to engage more .... more>>
Ottawa and New York make their cases to join English Rugby League
Ottawa and New York make their cases to join English Rugby League   12 Apr 2019

Representatives of proposed rugby teams based in the Canadian city of Ottawa and New York, US have presented their plans to join the English Rugby .... more>>
Sport England: record number of adults now physically active
Sport England: record number of adults now physically active   11 Apr 2019

A record 62.6 per cent of the adult population are now classed as physically active, according to the latest figures from Sport England's Active .... more>>
Company profile


Matrix Fitness

At Matrix Fitness, our goal is to make innovative commercial fitness equipment that stands out and sets new industry standards.

View full profile>>

Catalogue gallery


Featured Supplier

Elevate and Metro Blind Sport to promote inclusivity through inaugural Charity of the Year partnership

Elevate and Metro Blind Sport to promote inclusivity through inaugural Charity of the Year partnership

Organisers of Elevate, Elite Sport and COPA are delighted to announce Metro Blind Sport as its Charity of the Year partner for the 2019 trade show, held at ExCeL London on 8-9 May. More>>




in this issue

• Deloitte: European fitness growing strongly
• Number of low-cost gyms could double
• Dungeon attraction opens at Alton Towers



Latest jobs

Jobs Search



Personal Trainer
Location: Greater Manchester, England
Company: The Gym Group
Personal Trainer - Self Employed
Salary: Fantastic Benefits
Location: Cumbria, England
Company: The Gym Group
Personal Trainer / Fitness Trainer
Salary: Fantastic Benefits
Location: West Sussex, England
Company: The Gym Group
Diary dates
Powered by leisurediary.com




24-25 Apr 2019

FUTR (Formerly Millennial 20/20)

Business Design Centre, London, United Kingdom



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Social good: Spice of life
Oomph! founder Ben Allen is bringing variety to residential homes More>>
  Interview: Sioux-per foods
The Sioux Chef, Sean Sherman, is on a mission to revive indigenous cuisine More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Sports: Play to the crowd
When public sector budgets are tight, crowdfunding is an attractive option More>>
  Regeneration: High ideals
In Utah, a bunch of hip entrepreneurs is creating a crowdfunded ski resort More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd