IRFU profits up fourfold to more than €3m

The Irish Rugby Football Union (IRFU) is on course to post profits of more than €3 million this year thanks to new sponsorship deals and increased revenues from Six Nations games hosted at Croke Park, according to chief executive Philip Browne.  Ciarán Hancockreports.

This would represent a near fourfold increase on the €816,000 surplus achieved in 2006. It is also a marked contrast to the €9.1 million in "planned deficits" which the IRFU racked up in 2004 and 2005.

Mr Browne said that turnover would rise to about €50 million, compared with the €46 million recorded in 2006.

The "professional game" cost the union €24 million last year. About 150 national, provincial and academy players are contracted to the union at a cost of more than €13 million.

The IRFU's financial year ends on April 30th.

Mr Browne cited three main factors being responsible for the increased profits. "It reflects the performance during the year in terms of our professional teams [ Ireland won the Triple Crown and Munster the Heineken Cup]," he said.

"It is also due to a new cycle of sponsorships beginning and increased revenues from the Six Nations as a result of playing at Croke Park."

Mobile phone company O2 signed up as team sponsor during the year, replacing Permanent TSB in a deal worth more than €1 million annually to the IRFU.

Mr Browne declined to say how much additional revenue Croke Park had netted the union. "The GAA did very well out of the deal and equally we did well from it."

He said THAT the improved profits performance would help offset revenue lost as a result of the top clubs in England and France boycotting next year's Heineken Cup. The tournament nets the IRFU more than €4 million a year. "It will help cushion whatever we have to deal with in the coming year with the Heineken Cup."