IRFU Deficit Of €10 Million For Year Ended July 2021
A general view of The Aviva Stadium Mandatory Credit ©INPHO/Tommy Dickson
The Irish Rugby Football Union has reported a deficit of €10million for the financial year ended 31st July 2021, following on from the €36million deficit previously reported for the preceding 15 months.
During the period the IRFU provided €27million of special covid funding to the Provinces and €4million to the club game.
The union’s income increased from €79.2million to €84 million, due primarily to broadcasting income from two postponed Six Nations matches, the receipt of €13.2million from the PRO14 CVC deal and €18.2million in government funding and assistance in relation to wage subsidies and other government initiatives.
Professional game costs increased by almost €20million, to just over €68million reflecting amongst other things, the financial assistance provided to the provinces during the pandemic.
The Union’s reserves have fallen from €98.6million to €52million since April, 2019 (See pg 4 and 5 of the accounts).
Commenting on the accounts, IRFU CEO, Philip Browne said,
“COVID 19 has had an enormous impact on the IRFU. While our deficit has been reduced to €10million in this period, the Union would have experienced a loss of over €43million had we not had the assistance of the government and the funding from the CVC deal with PRO14. Irish Rugby thanks the government, and Sport Ireland, for its support.
Our aim was to emerge from the pandemic with the IRFU, the provinces and our clubs solvent, and the funding of €27 million to the four provinces and €4million to our clubs has assisted in that goal.
This has been a difficult time for everyone, particularly those who have experienced illness and the loss of people due to the pandemic.
The IRFU is emerging, with the rest of society, into this new environment and I want to thank everyone, from staff to players and coaches and volunteers across the entire rugby landscape for their time, patience, assistance and understanding at this extremely difficult time.
There are brighter days ahead.”
Downloads
IRFU Hon. Treasurer Report Nov 2021