New Zealand Rugby posts shocking annual loss

All Blacks haka v Springboks (Getty Images)
All Blacks haka v Springboks (Getty Images)

New Zealand Rugby (NZR) on Thursday announced a NZ$7.4 million ($4.53 million) loss for 2019, having earlier this month expressed worries over the financial impact of the coronavirus pandemic.

Register your interest for the British & Irish Lions tickets in South Africa 2021

The figures do not take into account the last few months, which have seen international rugby grind to a halt due to the health crisis.

The federation of the All Blacks - world rugby's most dominant team of the past two decades - have warned that the health crisis could cost it up to NZ$100 million, but on Thursday said that "cash reserves of NZ$93 million" had provided a "vital buffer".

"We face significant challenges, but many are not new with continued demand for our players overseas, the need to stay relevant to young people and adapt to fast moving technologies," said NZR chairperson Brent Impey.

In total, the federation generated NZ$187 million last year, one percent less than in 2018 but 40 percent more than in 2015, the year of the last World Cup before the 2019 edition in Japan.

The All Blacks have won the World Cup three times but were knocked out by England at the semi-final stage of last year's competition.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Voting Booth
What is your favourite sport to watch on TV?
Please select an option Oops! Something went wrong, please try again later.
42% - 10234 votes
11% - 2759 votes
19% - 4623 votes
2% - 605 votes
1% - 230 votes
2% - 561 votes
5% - 1220 votes
8% - 2037 votes
3% - 823 votes
Water sports
1% - 218 votes
American sports
1% - 301 votes
3% - 786 votes