NZ Rugby could lose as much as NZ$66-million (R618-million) over the next five years,
This is according to a leaked report, which warns that its current financial model is “clearly unsustainable”.
The confidential document, titled Rugby System Programme – Rugby Summit Pre-read, outlines the scale of the financial challenge facing NZ Rugby as it looks to cut annual costs by NZ$20-million (R187-million) from 2028.
It follows another leaked report, prepared by Deloitte in conjunction with executives from New Zealand’s five Super Rugby clubs, which reportedly warned that the competition’s existing model could become structurally unsustainable within five years.
According to Stuff, each of the five clubs recorded at least one annual net loss between 2019 and 2025. The Hurricanes, for example, posted a NZ$1.4-million (R13-million) loss in 2023 and almost NZ$2-million (R19-million) in 2025.
SMIT: All Blacks ‘fighters’ need time in the ring
NZ Rugby itself is reportedly forecast to record a net loss of NZ$27-million (R253-million) in 2026, with total player payments across NZ Rugby and the provincial unions amounting to NZ$95-million (R889-million).
The leaked document projects cumulative net losses of NZ$107-million (R1-billion) between 2024 and 2028 when adjusted for once-off items such as last year’s INEOS settlement.
NZ Rugby reported a NZ$19.5-million (R183-million) book loss for 2025 despite generating record revenue of NZ$285-million (R2.67-billion).
At the time, NZ Rugby chairman David Kirk stressed that the figure did not represent a cash loss and pointed to cash reserves of NZ$174.5-million (R1.63-billion) as evidence of the organisation’s strong cash position.
PLUM: All Blacks too small for Boks?
However, the latest report reportedly warns those reserves could be depleted significantly without changes to the existing model.
If no significant reforms are made, NZ Rugby’s cash reserves are projected to fall to NZ$72-million (R674-million) by the end of 2031.
Photo: Hagen Hopkins/Getty Images
The post NZ Rugby faces financial black hole appeared first on SA Rugby magazine.
NZ Rugby could lose as much as NZ$66-million (R618-million) over the next five years,
The post NZ Rugby faces financial black hole appeared first on SA Rugby magazine. Read More
