Cape Town - SA Rugby posted a modest post-tax profit of R2m after two years of
losses, it was announced at the Annual Meeting of the organisation in Cape Town
The result reversed losses of R62.4m in 2017 and R15.7m in 2016 as a
series of cost-cutting measures had an impact.
Revenue increased by 9.5% to R1.3bn, largely attributable to
increased income from broadcasting rights, sponsorships and Test match
receipts. Expenses remained flat at R1.28bn.
“There have been some hard decisions taken over the past three years to
reach this position and there is hard work still to be done,” said Jurie Roux,
SA Rugby CEO.
“Some of the measures implemented caused significant discomfort; however,
we believe the positive impact of implementing these measures will be realised
in the future.
“We have made progress in the past year, but we know we are still some
distance from achieving an adequate financial standing.”
the expense side,
player payments increased in accordance with agreements in place and due to an
additional Test, while SA Rugby’s
investment in PRO14 membership came at a nett cost of R60m. Strategic
performance expenditure increased due to the investment required to achieve SA
Rugby’s transformation goals.
Springboks and our national teams remain our priority and we continue to
prioritise their activities. The budget for the 2019 Rugby World Cup campaign
is secured and signed off but we will continue to look for savings in
peripheral activities,” said Roux.
current debate about the proposed ICASA regulations - which would remove the
exclusivity enjoyed by successful bidders - remains a serious threat to our
financial sustainability and we will continue to engage with the regulator to
point out the potentially disastrous consequences of a change.”
annual financial statements were approved by the members. The 2018 Annual
Report can be downloaded in full from the
“Governance” section at www.springboks.rugby.
meeting also elected Vanessa Doble, head of Legal and Compliance at SA Rugby,
as SA Rugby’s first female representative to the World Rugby General Council.
position was opened following a constitutional change by SA Rugby to include a
female representative after World Rugby increased national union representation
to three members, one of which has to be female. SA Rugby’s other representatives
are President Mark Alexander and CEO Jurie Roux.
meeting also accepted into associate membership South African Rugby League. The
application was made under the terms of the requirements of the South African
Sports Confederation and Olympic Committee (SASCOC) which directs that all
similar sports fall under one national mother body.