RFU finances are sound, claims FD

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.

Link: RFU appoints FD as World Cup kicks off

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.’

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource