IRFU announce €1.2 million profit for 2017/18 season
Golden term for Ireland on the pitch has seen IRFU return to profit ahead of schedule
Ireland celebrate after securing the Grand Slam at Twickenham. Photograph: James Crombie/Inpho
A golden year for Irish rugby on the pitch has also proven fruitful off it, with the IRFU announcing a profit of €1.2 million for 2017/18.
The IRFU had budgeted for a deficit of more than €4m for the 2017/18 season, due to the cost of hosting the Women’s Rugby World Cup, the failed bid to host the 2023 Rugby World Cup and an increase in, “the investment in the domestic game and the player development pathway.”
However Joe Schmidt’s Ireland winning the Grand Slam, as well as Leinster’s Champions Cup victory, have resulted in “significant financial improvement for the Union.”
Indeed, IRFU revenues rose by €9.1m - to stand at more than €85m. €6.3m of this stemmed from Ireland’s on field success, with €2m coming from the provinces.
The IRFU’s expenditure on the national team and the provinces increased to more than €42m, which includes the bonuses paid out to players after a golden campaign.
Expenditure on elite player development increased to € 10.8m, while more than €3m was spent on elite women’s rugby - an increase on the € 2.2m spent in 2016/17.
On the IRFU’s results, chief executive Philip Browne, said: “The 2017/18 season was a record breaking one in terms of team and financial performance, and it is thanks to Joe Schmidt and his management team, the provincial management teams and all the players, as well as the loyal and ever increasing number of supporters who attend games, purchase merchandise and drive our teams on to winning performances.
“The financing of the game has become increasingly important in the context of competing with international clubs who have deep pockets. Keeping our best players in our player management system has helped to deliver success and I congratulate David Nucifora and all our provinces for making the Irish system so attractive to players.”