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Welsh Rugby Union confirm how much they have lost after annus horribilis
By PA
The Welsh Rugby Union recorded a loss of £7.5million in the last financial year.
That figure has increased by £2.7m from 2023, although turnover has risen by almost £5m in the same period.
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An increase from £97.9m to £102.7m was reported by WRU chief executive Abi Tierney to Wales’ member clubs at the Union’s annual general meeting on Sunday.
The WRU Group’s operating profit before distributions, though, decreased by £800,000 to £22.7m in 2024.
Operating costs, meanwhile, rose by just over £8m to £75.1m, which included higher costs for the senior men’s national team in a World Cup year, along with strategic investment into women’s and girls’ rugby.
“This year’s annual report comes against a backdrop of a challenging but incredibly future-focused time for Welsh rugby,” Tierney said.
“As my first year as Group CEO comes to a close, we have already laid out our direction of travel for the next five years with the publication of our headline ‘One Wales’ strategy this summer.
“The need to establish financial stability features at the core of the strategy, and is essential to shaping a sustainable future for the game.
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“As we continue to rebuild following Covid inflationary pressure, the necessary continued investment into rugby and the (Principality) stadium has increased the Group’s operating cost base.
“The WRU has been presented with a number of financial obstacles this year and previously, including a period of high inflation.
“The high interest rates and a high inflation economy has had a direct impact on consumer spending trends and a reduction in disposable income, which has been felt across the UK, not just in Wales.
“This, in turn, has affected ticket sales and match income.
“Our aim, as ever, is to maximise the re-investment into rugby each year, and despite the current financial position £60.4m was re-invested into Welsh rugby over the financial year.”
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