RFU ‘not out of woods’ despite reduction in losses

According to chief executive Bill Sweeney, the Rugby Football Union is in a “strong position” but “not out of the woods” after reporting a £228 million revenue increase in its most recent financial statements.

The most recent RFU annual report shows that there were losses of £22 million in 2023-24, which is the second-highest revenue ever recorded.

Sweeney thinks the game is coming along strongly after a difficult few years, even though the union’s long-term future at Twickenham is still uncertain.

He told BBC Sport, “We still face financial challenges, but we are in a good place.”

“We are in a really strong position going forward and feeling that things have progressed well.”

We still have a strong balance sheet, are earning a lot of money, but we still haven’t really lost our minds.

Given Sweeney’s position, especially given his £1.1 million remuneration, the severe losses in the 2023-24 accounts sparked a furore.

Sweeney was forced to fight for his position at a special general meeting in January, where he was unable to win the game.

The most recent accounts, which cover June 2024 to June 2025, show the first year of a four-year cycle, with the addition of seven home men’s internationals during that time.

Conversely, the high costs associated with the only five games played at Twickenham in addition to the high costs of preparing for the 2023 Rugby World Cup can be attributed to a portion of the losses in 2023-24.

Second only to the 2015-16 home men’s rugby world cup season’s highest annual revenues, the 10-year high is at this time.

A positive start is essential in the first year of our new four-year cycle, as we all know that the fourth year always results in significant losses, according to Francesca Pierce, chief financial officer of RFU.

Given the rising cost pressures and the wider consumer environment, “This is even more significant.”

The RFU claims that World Rugby and the RFU are in discussions to review the revenue model for men’s “rugby World Cup” years, calling it “a recognized challenge across the game.”

The Allianz Stadium renovation is also on the agenda because it is regarded as “essential long-term project” with estimated costs of more than £650 million.

However, the local council must approve the stadium’s redevelopment before it can host 15 non-rugby events annually, which has so far proved to be a sticking point.

In a worst-case scenario, Sweeney claims that the RFU is making contingency plans to leave Twickenham and that staging this many events is non-negotiable.

We are the most underused stadium in the country, he said, compared to some of the other stadiums in the area.

There are 55 events at Wembley, including 25 football matches. They have 34 top-flight players at Tottenham. In addition to rugby, we have three.

We need more non-rugby events in this area to make the investment worthwhile.

Our main objectives are to remain here, contribute a sizable sum to the local economy (over £90 million), and contribute significantly more to the Greater London economy than that.

They have informed us that they want us to remain here. However, those additional 15 events are required.