Rugby Football Union chief executive Bill Sweeney has described the sport's future as "bright" despite a challenging year that saw revenues reach a 10-year high but an overall loss of nearly £2m.
Sweeney, who took over at the RFU last September, says he is pleased with the progress made by the union in recent times. However, he also acknowledges that the sport faces significant challenges in the coming years, including increasing competition from other sports and a complex financial situation.
The RFU's annual accounts reveal a significant increase in revenue to £147m, up from £137m last year. This is largely due to an increase in broadcasting income, which has seen the union's media rights deals rise by 20% over the past 12 months.
However, despite the increased revenues, the RFU still reported a loss of nearly £2m for the year, down from a deficit of £3.5m last year. Sweeney says this is due to increased costs associated with running the sport at a professional level, including higher salaries and facilities maintenance.
Sweeney's comments come as rugby faces increasing pressure from other sports, such as soccer and cricket, which are vying for attention and investment in an increasingly competitive sporting landscape.
Despite these challenges, Sweeney remains optimistic about the future of rugby. He says that the union is committed to working with its stakeholders, including clubs, players and fans, to build a sustainable and successful sport for years to come.
In his comments, Sweeney praised the hard work and dedication of RFU staff and volunteers, saying they have helped deliver significant progress in recent times. However, he also acknowledged that there is still much work to be done to secure the long-term future of rugby.
"We're in a good place," Sweeney said. "We've made some significant progress in recent years, but we know we still have challenges ahead. We're committed to working with all our stakeholders to build a sustainable and successful sport for years to come."
Sweeney, who took over at the RFU last September, says he is pleased with the progress made by the union in recent times. However, he also acknowledges that the sport faces significant challenges in the coming years, including increasing competition from other sports and a complex financial situation.
The RFU's annual accounts reveal a significant increase in revenue to £147m, up from £137m last year. This is largely due to an increase in broadcasting income, which has seen the union's media rights deals rise by 20% over the past 12 months.
However, despite the increased revenues, the RFU still reported a loss of nearly £2m for the year, down from a deficit of £3.5m last year. Sweeney says this is due to increased costs associated with running the sport at a professional level, including higher salaries and facilities maintenance.
Sweeney's comments come as rugby faces increasing pressure from other sports, such as soccer and cricket, which are vying for attention and investment in an increasingly competitive sporting landscape.
Despite these challenges, Sweeney remains optimistic about the future of rugby. He says that the union is committed to working with its stakeholders, including clubs, players and fans, to build a sustainable and successful sport for years to come.
In his comments, Sweeney praised the hard work and dedication of RFU staff and volunteers, saying they have helped deliver significant progress in recent times. However, he also acknowledged that there is still much work to be done to secure the long-term future of rugby.
"We're in a good place," Sweeney said. "We've made some significant progress in recent years, but we know we still have challenges ahead. We're committed to working with all our stakeholders to build a sustainable and successful sport for years to come."
I'm not sure how bright the future is when you're making more money just because people are willing to pay more for it 
. It's like, yeah, £147m is a big number, but so is £2m loss. Not exactly what I'd call "progress" 
but i gotta say, Bill Sweeney seems pretty chill about it 
. the revenue's up 20% which is lit 
but yeah, the loss is still kinda bad 
. i mean, you gotta pay those players and maintain them facilities or else 
. but overall, i think rugby's in a good place 
, just need to keep working on that sustainability thing 
. and hey, more people watching the games means more money for everyone 
️
. And don't even get me started on broadcasting income 
. It's a quick fix, but it's not sustainable. The RFU needs to focus on getting its finances in order before it starts talking about building a "sustainable" future 
.
! £2m loss might not seem like a lot, but it's still a big hit, especially after such a huge revenue increase 
. Those RFU staff and volunteers have been working so hard – let's give them a shoutout 
It's like they're taking two steps forward and one step back, you know? 
And with the broadcasting income increasing by 20%... that's a big deal! 
But overall, I guess Bill Sweeney seems like a positive guy who wants to see rugby do well in the long run. 
anyway, i think bill sweeney seems pretty chill about it all - he's just trying to spin the narrative and keep people optimistic 
. but at the end of the day, rugby is facing some tough competition from other sports... like, what's wrong with soccer or cricket wanting a piece of the action? 
still, gotta respect sweeney's commitment to working with stakeholders and all that jazz 
. Still, I guess Sweeney's right that they're making progress and trying to work with all their stakeholders... it's just a shame it's not going to happen overnight 
.
But at the same time, it's also super sad to see the union still going through losses. Like, you'd think with all that cash coming in, they could make a profit or something? 
, so rugby needs to step up its game. Like, what can they do? Invest in marketing maybe? Or get some new sponsors? 
, considering they're facing tough competition from other sports like soccer and cricket 
. I'm not sure what's going on with the broadcasting income, can someone explain it to me 
. Fingers crossed they can get their finances in order and keep rugby thriving for years to come 
. i mean, u gotta wonder how they're gonna keep up with all the other sports like soccer and cricket that are getting more attention and investment these days. and don't even get me started on the broadcasting income - 20% increase is huge! but at the same time, it's also kinda weird that their costs are so high... like, u can only make so much money before u gotta start cutting corners somewhere 
. I get it, costs go up, but shouldn't they be increasing with the revenue too? And what's with this broadcasting income increase by 20%? Are we living in a different world where people are actually watching rugby again? 
. And with soccer and cricket snapping at their heels, I think they're being a bit naive if they think they can just sit back and coast on their broadcasting income