One-off Land Deal provides additional €24 million in Exceptional Income
Irish Rugby has grown its revenues to over €87.5 million for the 2018/19 year, an increase of €1.8 million on the corresponding period last year. The increased revenue resulted from the sale of additional ten-year tickets and corporate boxes together with an increase in PRO14 revenues which has been passed on to the provincial teams.
The men’s international game now accounts for 81% of all IRFU revenues through ticket sales hospitality, sponsorship and amortised income. When we add the 15% generated by PRO14 and EPCR, this results in 96% of the Union’s revenues being attributable to the men’s professional game.
The net revenues from the professional game were allocated across the entire game, with increases to domestic game funding, Women’s rugby, values-based initiatives through the ‘Spirit of Rugby’ Programme, and the promotion of the game, particularly on driving attendance to this year’s Women’s Six Nations games.
As reported earlier this year, the IRFU also netted just over €24 million from the sale of land at Newlands Cross. The Union has agreed that the net proceeds of this sale are to be applied for the benefit of the domestic game.
Commenting on the Annual Report, IRFU Chief Executive Philip Browne said:
We are pleased to report strong revenues for the 2018/19 financial year. As we move to implementing our latest strategic plan, entitled ‘Building Success, Together’, which includes ambitions plans for the development of our Women’s game, we rely heavily on the revenues generated by the senior men’s team.
“These revenues come from loyal supporters, partners and Sport Ireland, who provide the funding for the development of every aspect of the game. We are extremely grateful for such support.
“With the impact of Brexit still unknown, the future for all businesses is uncertain. We must continue to govern the game in a prudent and responsible manner and in that respect we must ensure that the revenues received from the Newlands sale continue to deliver an income that can be spend on our on-going grassroots programmes.”