Rugby Australia has announced a $9.2 million loss for 2023, with the World Cup being blamed as the main reason for the major deficit.
It comes just a year after the RA made a profit of $8.2 million.
Operating costs for 2023 were $11.5 million due to the World Cup, which proved to be a costly exercise for no rewards after the Wallabies failed to progress to the knockout stages of the tournament in France.
However, the loss was less than those from the previous two World Cup years of 2019 ($9.5 million) and 2015 ($9.8 million).
RA chief executive officer Phil Waugh admitted 2024 would also be a financial battle for the sport’s national governing body, which is currently keeping the Melbourne Rebels afloat.
“From a revenue perspective 2024 will be another challenging year given we have had to take on the unplanned cost of the Melbourne Rebels’ operations for 2024, as well as additional investments and distributions to member unions, Super Rugby clubs, the community game, pathways and women’s rugby,” Waugh said.
However, Waugh said there was a “clear path forward” in terms of “uniting the game from the grassroots to the elite level”.
“We could have reduced costs further for 2024, however this could have had a detrimental long-term effect for the game,” he said.
“It is essential that we set the game up as best we can for the major revenue events on the horizon in 2025, 2027 and 2029.
“Sales to date for the (2025) Lions tour have been exceptional, both in our market and in the UK. This once-in-12-years event creates the opportunity to repay debt and get over the legacy of Covid-19 that the game is still facing.”