THE IRFU SAYS it will sink an extra €4 million per annum into the four provinces and the club game from the start of the 2015/16 season onwards, after reporting an encouraging financial surplus in its annual accounts.
Munster and Leinster will get a financial top-up. Source: Dan Sheridan/INPHO
Irish rugby’s governing body reports it had a surplus in excess of €8.7 million for 2014/15 on account of ticket sales, prize money for their Six Nations triumph and new broadcast agreements.
The IRFU says that surplus resulted in a “net cash operating surplus of €1.2 million after amortised non cash income and expenditure were accounted,” comparing favourably with the €1 million deficit reported for the 2013/14 season.
Leinster, Ulster, Munster and Connacht will now get a top-up to their finances and the Irish club game will also benefit from the overall €4 million injection.
Despite these positive reportings from the union, honorary treasurer Tom Grace warned against anyone getting carried away.
The former Ireland international pointed to the relative financial might of French and English rugby as an ongoing concern, while also highlighting the issue of free-to-air TV rights.
“There are significant risks facing the union, including economic uncertainty, the free-to-air issue and the relative financial strength of our partners and competitors in international and provincial rugby,” said Grace in an IRFU statement.