Rugby: a turnover of £172.4m and a loss of £30.9m for the English Rugby Football Union in 2017-18

The Rugby Football Union/RFU has posted a turnover of £172.4m (€194.6m) for the 2017-18 financial year, according to the body in its annual report 2017-18 published on 26/11/2018. "As expected, these revenues were lower than 2016-17, driven largely by the impact on ticket and broadcasting revenues of fewer home matches at Twickenham. As a result, profit before rugby investment reduced 11% year on year to £83.3m," stated the Rugby Football Union.

"For accounting purposes, the exceptional cash gain of £31.6m (€35.6m) from the restructure of the RFU's holding in Twickenham Experience Limited (TEL) cannot be recognised in the Profit and Loss Account (P&L). As a result, an operating loss of £30.9m (€34.8m) is reported. This exceptional cash gain enabled rugby investment of £107.7m (€121.5m) - £70.7m (€79.8m) in the Professional Game and £37m (€41.7m) in the Community Game," said RFU.

"The financial position of the RFU is sound. We have a healthy cash position, robust contracted revenues and a good balance sheet. 2017-18 was a transition point for the Union as it moves from a period of…