US EditionNZ Rugby posts massive financial loss, despite record income for 2024
- At their AGM in Wellington, New Zealand Rugby revealed a net deficit of NZ$19.5 million for the 2024 financial year, despite achieving record revenue of NZ$285 million.
- The loss resulted mainly from foreign currency hedging impacts on sponsorship revenue and increased investments in commercial growth, offsetting strong revenue gains.
- NZ Rugby continued to grow commercial revenue through sponsorship and matchday income, maintained a strong cash position with $174.5 million in reserves, and described the operational result as near break-even.
- Chair David Kirk said the loss was not a cash loss and highlighted the challenging international environment, while CEO Mark Robinson emphasized the need to develop a sustainable financial model.
- The results suggest ongoing efforts are critical to achieve financial sustainability in New Zealand Rugby to support the community game and preserve the sport’s long-term viability.
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Total News Sources12
Leaning Left2Leaning Right0Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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