NZRU announces record losses 23/04/2010 |
|
| |
| |
The New Zealand Rugby Union (NZRU) has reported record losses of NZ$15.9m for 2009.
The results – which followed a profit of NZ$366,000 in 2008 – were partly down to the global economic downturn and the cost of hosting next year's World Cup.
But NZRU chief executive Steve Tew added: "Of the loss, NZ$9.5m is on our operating budget, mainly from the shortfall in income on All Black Test matches at home and abroad, reduced interest income and increased expenditure on medical support and players due to a higher than normal number of injuries incurred.”
He explained that the large reserves held by the union would cover the losses but said: "While we are fortunate that our financial position is very strong, the game cannot continue to spend more than it earns. Consequently, we have made revenue growth and cost management a priority for 2010."
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
