Rugby Australia receive World Rugby relief funding

Rugby

Rugby Australia have secured $14.2m emergency funding from World Rugby as part of its COVID-19 relief strategy, RA announced on Friday.

World Rugby’s emergency relief fund of approximately $160m will be allocated to unions on an application and evaluation basis to mitigate the impact the COVID-19 crisis on the sport.

“Our game has suffered an enormous impact globally from COVID-19 and we are very grateful for the support of World Rugby and commend them on their leadership in managing this issue for the global game,” Rugby Australia interim CEO, Rob Clarke said via statement.

“The financial implications of the virus have been significant for Rugby Australia and this emergency relief funding will provide us with certainty for the next twelve months and enable us to close off our 2019 accounts.

“The World Rugby funding provides a much-needed boost and a level of security as we continue this important work.”

The relief funding comes at a perilous time for RA with former CEO Raelene Castle announcing in March the governing body posted a provisional $9.4 million loss in 2019, while it was forecast RA could lose up to $120 million if the professional game did not return in 2020.

RA’s 2019 financial reports are still yet to be signed off by KPMG, with a May 31st deadline looming.

While the Bledisloe Cup series remains a possibility to be played in 2020, World Rugby announced on Friday all July Test series would be postponed until further notice.

Products You May Like

Articles You May Like

Wolff holds 3-stroke Rocket Mortgage Classic lead
Renault confirms Alonso will return to F1 next year
Buster Olney’s top 10 relief pitchers: Lights out in 2019, no guarantees in 2020
Goalkeeper quits soccer to pursue MMA dream
Father of UFC’s Nurmagomedov dies in Moscow

Leave a Reply

Your email address will not be published. Required fields are marked *