• Chief executive insists he is leaving post for ‘own reasons’
The Rugby Football Union has predicted “growing uncertainty” and “challenging times” after its annual accounts revealed a £30.9m loss and the forced redundancy of 54 staff members.
The RFU released its financial statement for the year ending 30 June 2018 on Monday, a 12 month-period that saw England’s form decline on the pitch and income fall by £12.5m. The current account deficit, however, was offset by a restructuring of the RFU’s Twickenham hospitality business joint venture with Compass. That brought in a one-off profit of £31.6m, enabling the union to increase its investment in elite and grassroots game by 8% and top up its reserves to £25.1m.
Written by Press Association
This news first appeared on https://www.theguardian.com/sport/2018/nov/26/rfu-accounts-reveal-loss-and-redundancy-of-54-staff-members under the title “RFU accounts reveal £30.9m loss and 54 redundancies”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
