IRFU to increase funding to Provinces and Grassroots by €4m
The Irish Rugby Football Union today presented its 2014/15 Annual Report and Accounts, reporting a surplus in excess of 8.7 million euro due to continuing strong ticket sales, new broadcast agreements and the prize-monies generated by the national team thanks to their success in the RBS 6 Nations Championship.
The surplus has resulted in a net cash operating surplus of €1.2 million (versus a €1 million deficit in 2013/14) after amortised non cash income and expenditure were accounted for.
The strong financial performance will allow the IRFU to increase funding to the provincial and club game by €4 million per annum from the start of the 2015/16 season.
Honorary Treasurer Tom Grace noted that although recent success on and off the pitch has afforded an opportunity for the Union to increase funding to the game, Irish Rugby faces a number of significant challenges in the years ahead.
Presenting the accounts, Grace said, “There are significant risks facing the Union, including economic uncertainty, the free-to-air issue and the relative financial strength of our partners and competitors in International and Provincial Rugby.
For the second year in a row the success of the national team in the RBS 6 Nations has boosted the level of prize money secured from the tournament. The strong support of the national team at the Aviva Stadium remains a vital source of revenue for the Union and contributes massively to the IRFU’s ability to provide funding to all levels of the game in Ireland.”