SA Rugby suffers net loss of R33 million

2018-08-29 13:30
Mark Alexander (Gallo Images)

Cape Town - SA Rugby is facing a tough financial battle and it may take some time to emerge from its current slump.

The rugby governing body did a presentation in front of the Portfolio Committee of Sport and Recreation in parliament on Tuesday when it reported a net loss of R33 million in 2017.

Furthermore, the SA Rugby Group, which includes the governing body's subsidiaries, suffered a net loss of R62 million. The SA Rugby Group promotes, develops and supports all levels of rugby in South Africa.

The reasons for the heavy loss were attributed to the failed 2023 Rugby World Cup bid, the costs involved in getting the Cheetahs and Southern Kings into the PRO14 and the loss of sponsorships.

In November last year, South Africa looked set to beat France, Italy and Ireland for the rights to host the 2023 World Cup.

However, World Rugby’s Council opted to overturn a recommendation that South Africa should host the tournament and instead voted for France to host the tournament in a secret ballot.

CORRECTION: It was initially incorrectly reported that SA Rugby had suffered a net loss of R62 million during 2017. SA Rugby on Wednesday stressed that it suffered a R33 million loss in 2017. The SA Rugby Group (including subsidiaries) however did suffer a R62 million net loss.

Read more on:    sa rugby  |  rugby


Read News24’s Comments Policy

Live Video Streaming
Video Highlights
Sport Talk
Breaking News

Previous Results

Date Home Team Result Away Team

Which Super Rugby quarter-final are you most looking forward to?

Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter


The 2018/19 Absa Premiership season is in full swing. Will Mamelodi Sundowns retain their title? Or can one of Kaizer Chiefs, Orlando Pirates, Wits, SuperSport United - or another team perhaps - snatch glory from the Brazilians? Be sure to visit Sport24 for all the latest news!

Latest blogs

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.