Australian Rugby / RA
- Thread starter Dave Beat
- Start date
Slim 293
George Smith (75)
Where did you get these figures from? I can see this bit in the Directors' report.
Waratahs, acquired on 1 January 2024, was integrated into the Rugby AU group to create efficiencies and alignment in the Australian Rugby ecosystem. Waratahs reported a deficit of $3,817,000 from 1 January 2024 to 31 December 2024.
ACT Professional Rugby, established on 1 August 2024, was integrated into the Rugby AU group to create efficiencies and alignment in the Australian Rugby ecosystem. ACT Professional Rugby reported a deficit of $3,659,000 from 1 August 2024 to 31 December 2024.
Waratahs, acquired on 1 January 2024, was integrated into the Rugby AU group to create efficiencies and alignment in the Australian Rugby ecosystem. Waratahs reported a deficit of $3,817,000 from 1 January 2024 to 31 December 2024.
ACT Professional Rugby, established on 1 August 2024, was integrated into the Rugby AU group to create efficiencies and alignment in the Australian Rugby ecosystem. ACT Professional Rugby reported a deficit of $3,659,000 from 1 August 2024 to 31 December 2024.
Not debt per-se but an excess of liabilities over the cash and other assets received.
Primarily this is deferred revenue (i.e. the Waratahs have sold memberships for the 2024 season prior to 31 December 2023 and potentially received some advances for the 2024 season from Rugby Australia) but no longer have all the cash to back that up.
The Brumbies came across during the year so the deferred revenue is less but also no cash to accompany it.
I would say that the bulk of this feeds into the overall losses recorded by these entities as noted in the Directors' Report which I quoted a couple of posts above.
The provisions are presumably mostly employee entitlements and I am guessing some of those were cleared in 2024 when employees of those entities were no longer employed by Rugby Australia as part of the rationalization.
On my initial skim read of the financial statements, it certainly doesn't paint a rosy picture of the situation.
My one mildly positive takeaway is that Rugby Australia only needed to increase their borrowing by $10m during the year to fund the operations plus the cash balance went down by $2m (so $12m in total) which is thankfully a lot less than the headline loss reported.
My one mildly positive takeaway is that Rugby Australia only needed to increase their borrowing by $10m during the year to fund the operations plus the cash balance went down by $2m (so $12m in total) which is thankfully a lot less than the headline loss reported.
Omar Comin'
Chilla Wilson (44)
Nothing new on the 'Rugby Future Fund' announced late last year, just restating the $100m goal. When they did all the publicity for it they'd raised an initial $12 million. I'd assume it hasn't been as successful as hoped otherwise they'd mention it.
Strewthcobber
David Codey (61)
Kind of. Not really. When they were both taken over, RA inherited "defered revenue" of $6.5m, which for the Tahs (from their annual report) is stadium rebates paid in advance, sponsorship income paid in advance and membership subscriptions paid in advance. Once the 2024 season is done those liabilities disappear.
So the cash was already paid to the Tahs and Brumbies, but the service rendered in return is just to play out the season at the stadium, wearing the sponsors kit and in front of the members
Edit- should add RA is definitely paying for the annual operational costs. So they will be worse off each year
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Sword of Justice
John Solomon (38)
9/WWOS reporting that Nathan Sharpe is taking over from Joe Roff as president of RA.
Strewthcobber
David Codey (61)
Can anyone find a source for the revenue/expenditure for those 09/10 years + earlier?
Nathan Sharpe appointed as new Rugby Australia President, two new board members confirmed
Wallabies great and two-time John Eales Medalist Nathan Sharpe has been named as the new Rugby Australian President.
www.rugby.com.au
Mick The Munch
Bill McLean (32)
Headline should read "2024 worst financial year on record" thanks for pulling this together
Sword of Justice
John Solomon (38)
To be completely transparent I do not know what the role of President does. It appears this is a shared position with Kristy Giteau. The Presidents are on the Board page of Rugby Australia but not listed as being on the board in the annual report.
Under the constitution of ARU Ltd the President is entitled to speak at General Meetings but not at board meetings without invitation.
Under the constitution of ARU Ltd the President is entitled to speak at General Meetings but not at board meetings without invitation.
It's a largely ceremonial position.
Strewthcobber
David Codey (61)
Ceremonial. Doesn't get a vote. Doesn't have a role in how things are run. Doesnt attend board meetings
It's usually given to a ex-player with a profile as an honor, and they get to shake lots of hands at Wallaby lunches
At the end of their two year appointment they enter a treatment program for their gout and high cholesterol as well as some psychologist appointments to allow them to get over alternate servings of beef or chicken/fish.
Slim 293
George Smith (75)
Nathan Sharpe appointed as new Rugby Australia President, two new board members confirmed
Wallabies great and two-time John Eales Medalist Nathan Sharpe has been named as the new Rugby Australian President.
Yep, it was reported in the press release on rugby.com.au...
Tazzmania
Jim Clark (26)
According to AI:
The president's primary role is to provide leadership and guidance to Rugby Australia, working with the board and executive leadership to ensure the organization's success and to promote the sport within Australia. They also play a significant role in representing Rugby Australia on the global stage, particularly within World Rugby.
Key Responsibilities of the President:
Leadership and Vision:
The president sets the strategic direction for Rugby Australia, collaborating with the board and CEO to develop and implement plans for the future of the sport in Australia.
Representation:
The president represents Rugby Australia internally with member unions and externally with stakeholders, including sponsors, media, and the public.
Governance:
The president oversees the governance of Rugby Australia, ensuring compliance with regulations and promoting good governance practices.
Stakeholder Engagement:
The president engages with various stakeholders within the rugby community, including players, coaches, clubs, and fans.
Global Relations:
The president represents Rugby Australia on the global stage, working with World Rugby and other international rugby bodies to promote the sport worldwide.
The president's primary role is to provide leadership and guidance to Rugby Australia, working with the board and executive leadership to ensure the organization's success and to promote the sport within Australia. They also play a significant role in representing Rugby Australia on the global stage, particularly within World Rugby.
Key Responsibilities of the President:
Leadership and Vision:
The president sets the strategic direction for Rugby Australia, collaborating with the board and CEO to develop and implement plans for the future of the sport in Australia.
Representation:
The president represents Rugby Australia internally with member unions and externally with stakeholders, including sponsors, media, and the public.
Governance:
The president oversees the governance of Rugby Australia, ensuring compliance with regulations and promoting good governance practices.
Stakeholder Engagement:
The president engages with various stakeholders within the rugby community, including players, coaches, clubs, and fans.
Global Relations:
The president represents Rugby Australia on the global stage, working with World Rugby and other international rugby bodies to promote the sport worldwide.