Fewer home Six Nations games and no men’s Autumn Nations Series matches led to £53.8m decline in year-on-year revenue, including £25.4m less on ticket sales, £22m less received for catering and hospitality and a £6.4m drop in broadcast revenues.  Underlying loss in 23/24 (£34.4m) compared to 19/20 (£27.1m) as a result of inflationary cost increases and reduced Six Nations revenues from broadcast and sponsorship. 

Continued investment in the community game at £30.5m to support participation numbers which are now stable post covid. 

As expected in a men’s Rugby World Cup year, investment in our England teams increased to £28.7m versus £25.5m in prior year.  £24.9m invested in professional men’s and women’s clubs.  £12m invested in professional match officials, sports medicine and events and competitions. 

£7.6m invested in Strategic Growth Fund projects in line with planned business cases for investment into digital transformation, commercialisation of the women’s game, and the stadium redevelopment project. 

Restructuring of the organisation around strategic growth fund projects to ensure future revenue growth along with additional sponsorship and revenue opportunities to address long term operating deficit.

Chair of the RFU Board, Tom Ilube said: “Four years ago the game faced an unprecedented and unforeseen set of challenges and costs triggered by covid. We end this latest four-year cycle with a strong balance sheet, no debt, a robust cash position and positive P&L reserves. That is the result of strong leadership and hard work from everyone involved in rugby. The Rugby World Cup revenue impacts we see in this financial year were anticipated, planned for and they are in line with expectations. This has enabled us to continue investing strategically in the game at all levels with confidence.”

RFU CEO, Bill Sweeney said: “The RFU has planned well for this year, the fourth year in our business planning cycle, which is always a loss making due to increased costs associated with going to the Rugby World Cup and as a result of hosting fewer games at Allianz Stadium.

“Emerging from post-covid challenges, which saw significant lost revenues, substantial increases in costs and inflation, and a drop in player participation, we are now entering into a period of significant transformation with a great deal to be positive about.

“In the community game player numbers have stabilised, with more teams playing in RFU leagues and players reporting feeling safer as a result of a reduction in the tackle height. We have seen a year-on-year increase in age grade player registrations with boys registrations increasing by 16% and girls by 10%. Our Community Game Future project has now planned our first multiyear community game investment of £30m a year against a prioritised roadmap.

“As we look forward to hosting the Women’s Rugby World Cup 2025, the Impact ’25 legacy programme that we are delivering with Government, Sport England and UK Sport has already seen £12.13m committed in England and the home unions, creating more rugby opportunities for women and girls. In 2023-4 over £3 million was invested in 655 clubs nationwide with over 1,200 female coaches and match officials supported with their development with funding continuing to be committed through this season.

“Our head coach, John Mitchell, led England Women to victory in the inaugural WXV in New Zealand and secured a third Grand Slam in a row.  There were record attendances of 58,000 and 48,000 in successive seasons for the Red Roses at Allianz Stadium which is hugely positive as we approach a Rugby World Cup year.

“For our men, Steve Borthwick took England to third place in the 2023 Rugby World Cup in France and I would like to thank all the players who have retired from international duty since then. While the Autumn Nations Series’ results have been disappointing, we are encouraged by the pipeline of talented young players coming through and the outstanding England win in the World Rugby U20 Championship final against France, taking the title for the first time in eight years.

“After 18 months’ collaboration, the RFU Board and Council, PRL, Premiership clubs and the RPA co-created a new Men’s Professional Game Partnership which we believe will be transformational for the men’s professional game.

“We continue to retain and attract new partners and are delighted that one of the world’s leading insurers, Allianz have extended their support for rugby with a significant, long-term investment in the game. The partnership will be transformative, not only to the elite men’s and women’s teams but also aims to have a positive impact on community clubs around the country.

“Our investment in Strategic Growth Fund projects continues and these will safeguard future revenues across digital transformation, commercialisation of the women and girls’ game, and master-planning for the redevelopment of the stadium.”