Sport
Rugby Australia turns to private equity after $27m loss and threat of return to amateurism – The Guardian
Rugby Australia has recorded a net deficit of $27.1m for 2020 due to the Covid-19 pandemic, with the governing body losing so much money it even considered reverting…
Rugby Australia has recorded a net deficit of $27.1m for 2020 due to the Covid-19 pandemic, with the governing body losing so much money it even considered reverting to amateur status.
The $45.7m reduction in revenue was the key factor behind the huge loss, which was somewhat offset by $31.2m in drastic cost-cutting measures. Staff costs were reduced by $9.9m (down 46%), a $7.7m reduction in player costs (down 45%), an $8.1m reduction in Member Union funding (down 28%), and other costs were reduced…
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