Rugby: turnover of €79.2m and net loss of €35.7m for the Irish Rugby Football Union in 2020

"After recording its best-ever financial year in 2019 with a surplus of over €28m, The Irish Rugby Football Union (IRFU) suffered a deficit of €35.7m for the accounting period, after income fell from €87.5m to €79.2m and expenditure increased from €84.2m to just under €115m," announced the body in its Annual Report published on 23/10/2020.

"In respect of expenditure, player and management costs increased by €4.8m due to the additional three months of payroll. A change to the IRFU's accounting period to 31/07 - to align the financial year to the actual season which now stretches to July to accommodate the Summer Tour and also to get closer alignment with Branch year ends - means the 2020 financial statements cover a 15-month period," explained the body which appointed Des Kavanagh as its new president on 23/10/2020.

"Gate receipts fell by c. €5.8m for the IRFU in the 2019-20 season due to the replacement of the normal Guinness Series of three Test matches at Aviva Stadium with two Rugby World Cup warm-up matches in August 2019, while the postponement of the Ireland - Italy fixture…