RFU finances are sound, claims FD
With the World Cup just two months away, the finance director of English rugby's governing body says its finances are the soundest in the game.
Nick Eastwood, Rugby Football Union finance director, made this declaration after it paid over the final instalment of its £38m four-year loan on the re-development of Twickenham Stadium on Sunday.
The RFU is now in the enviable and unusual position among sporting bodies of being debt free – it also has a net cash balance of £23m.
Eastwood said: ‘The RFU now has the strongest balance sheet in the game, providing the financial foundations to deliver our strategic plan objectives.
Our turnover from TV deals has increased by 160% and other notable financial deals have included the establishment of Twickenham Experience Ltd, which generated a £12m profit.’