Rugby Australia considers private equity after recording $27.1 million loss in coronavirus-hit 2020
Rugby Australia (RA) has recorded a net deficit of $27.1 million for 2020 due to the COVID-19 pandemic, with the governing body losing so much money it even considered reverting to amateur status.
- Rugby Australia experienced a $45.7 million reduction in revenue in 2020
- New Zealand Rugby has approved a historic private equity deal, with Rugby Australia looking to follow suit
- Rugby Australia says it “openly talked about the game potentially becoming amateur” amid its financial woes
The $45.7 million reduction in revenue was the key factor behind the huge loss, which was somewhat offset by $31.2 million in drastic cost-cutting measures.
Staff costs were reduced by $9.9 million (down 46 per cent), a $7.7 million reduction in player…