The IRB’s Group financial results showed a net loss of £40 million in 2009, however the IRB said this was broadly anticipated as the majority of revenues for the Rugby World Cup are ordinarily received in the latter half of the four-year cycle.
"These are exciting times for Rugby around the world and despite a difficult global economic climate and a reduction in operational costs, the IRB remains committed to the development of the Game worldwide," said IRB Chairman Bernard Lapasset.
"Such levels of investment are made possible owing to the commercial success of Rugby World Cup, which is firmly established as one of the world’s biggest sporting events. Record reserves from the 2007 tournament in France will continue to underpin the delivery of key tournament, development and high performance programmes around the world within the four-year RWC cycle, all aimed at raising playing standards."
A cost reduction programme saw a reduction in operating costs of 5 per cent, and further 5 per cent in-line reductions are projected for its 2010 and 2011 budgets.
Date : 04/06/2010 (Friday)