Sport
Rugby Australia considers private equity after recording $27.1 million loss in coronavirus-hit 2020 – ABC News
Rugby’s governing body in Australia will look to sell a stake in the form of private equity in a bid to raise much-needed money for the struggling football code,…
Rugby Australia (RA) has recorded a net deficit of $27.1 million for 2020 due to the COVID-19 pandemic, with the governing body losing so much money it even considered reverting to amateur status.
Key points:
- Rugby Australia experienced a $45.7 million reduction in revenue in 2020
- New Zealand Rugby has approved a historic private equity deal, with Rugby Australia looking to follow suit
- Rugby Australia says it “openly talked about the game potentially becoming amateur” amid its financial woes
The $45.7…
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