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IRFU reports record revenues for 2018/19... but they also issue Brexit warning
Irish Rugby has grown its revenues to a record €87.5million for the 2018/19 year, an increase of €1.8m on the corresponding period last year.
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The increased revenue resulted from the sale of additional 10-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 per cent of all IRFU revenues through ticket sales hospitality, sponsorship and amortised income.
When added to the 15 per cent generated by PRO14 and EPCR this results in 96 per cent 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.
Irish Rugby Records Best-Ever Financial Year with €87.5 Million Revenue
Read More: https://t.co/sGGdOj6p7K pic.twitter.com/6IIsvQMB16
— Irish Rugby (@IrishRugby) July 19, 2019
As reported earlier this year, the IRFU, who will be hoping for unprecedented success at the World Cup in Japan, also netted just over €24m 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.
CEO Philip Browne said: “We are pleased to report strong revenues for the 2018/19 financial year.
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“As we move to implementing our latest strategic plan, entitled Building Success, Together, which includes ambitious plans for the development of our women’s game, we rely heavily on the revenues generated by the senior men’s team.
Ireland are preparing for RWC with the biggest training squad of any of the Six Nations countries 🤔
https://t.co/1BpFl2jGPW— RugbyPass (@RugbyPass) July 13, 2019
“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.
“In that respect, we must ensure the revenues received from the Newlands sale continue to deliver an income that can be spent on our on-going grassroots programmes.”
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