Rugby Australia posts $9.2m annual loss

In 2023, the Wallabies were also restricted to just two home Tests against Argentina and New Zealand, significantly affecting broadcast revenue, which was down by $14 million from the previous year. Matchday revenue was also down by $25 million from 2022.

RA reported significantly higher costs given it was a World Cup year, with operating expenditure up by $11.5 million.

The tournament was disastrous on and off the field for RA, with Eddie Jones’ Wallabies becoming the first Australian team to fail to reach the quarter-finals of the competition and Waugh subsequently revealing $2.6m in unapproved expenses had been spent during the campaign.

“The over-investment that was unapproved was $2.6m, which covered three main elements, being team costs, staff travel and then player benefits,” Waugh said in March, adding that RA only found out the extent of the excess spending “retrospectively”.

World Rugby grant increase

RA benefited from a substantial World Rugby grant of $31 million representing over 30 per cent of the organisation’s revenue for 2023 and up from the previous grant of $905,000 last year.

Rebels with a financial cause

The Rebels’ future still hangs in the balance, with RA having funded the club to the tune of $3.9 million last year. Regardless of whether the Rebels’ investor group delivers a rescue package, annual funding would still need to be delivered by Waugh and chairman Daniel Herbert. RA has spent $12.5 million on the club in the last three years.

Loan facility

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In November, RA announced it would utilise an $80 million credit facility, reportedly with an interest rate of more than 10 percent. The annual report shows that RA have drawn $50 million from that facility.

Broadcast

In the third year of RA’s broadcast deal with Stan Sport and Nine, the World Cup posted average audience figures of almost 450,000 for the final between South Africa and New Zealand, while the Wallabies’ 40-6 group defeat to Wales was the most watched Australian game with an average audience of 363,100.

The average audience for the weekly Saturday night Super Rugby game on free-to-air TV was up 15 per cent on 2022’s average.

Meanwhile, RA reported participation growth across clubs (up 1.7 per cent) and schools (up 2.3 per cent), as well as another strong increase in female participation (up 16 per cent).

More to come.

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