Rugby

Loss-making NZ eye Lions cash boost

2016-04-28 11:17
All Blacks logo (File)

Wellington - New Zealand Rugby (NZR) on Thursday revealed that next year's British and Irish Lions tour will be crucial to its finances, underpinning a five-year plan to break even by 2020.

NZR said it recorded a NZ$463 000 loss in 2015, despite the All Blacks becoming the first team to ever to win back-to-back Rugby World Cups.

While that was less than the NZ$955 000 deficit the organisation was expecting, NZR said the figure was set to blow out to NZ$10 million this year as it ploughs extra funds into provincial unions.

Chairperson Brent Impey said the NZR was still in a "favourable financial position" with cash reserves of NZ$59.1 million, but it needed to find ways to generate extra revenue.

"We face a revenue challenge if we hope to continue growing investment in the game," he said in a statement.

"We are forecasting losses in four of the five years, with the exception being next year with the British and Irish Lions.

"Our aim is to reach break-even over the period, but it is clear already that this will be a big challenge."

The NZR's annual report released on Thursday did not provide a breakdown of projected losses or how much next year's Lions tour is expected to bolster the bottom line.

However, it said last year that demand was set to exceed the composite team's last tour in 2005, when 20 000 travelling fans created a boisterous atmosphere and injected an estimated NZ$135 million into the economy.

No Lions squad has won a series in New Zealand since 1971. Next year's tourists face a packed 10-match schedule, including three Tests against the All Blacks.

Read more on:    all blacks  |  rugby

 

Read News24’s Comments Policy

Live Video Streaming
Video Highlights

 
 
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

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
Vote

Which of the 4 South African team will finish with the fewest Super Rugby SA Conference points?

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.