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Welsh Rugby Union preparing for substantial financial loss

The Welsh Rugby Union say they're anticipating a "substantial" financial loss for this year due t...



Welsh Rugby Union preparing fo...
Rugby

Welsh Rugby Union preparing for substantial financial loss

The Welsh Rugby Union say they're anticipating a "substantial" financial loss for this year due to season being held up by the COVID-19 crisis. 

The outbreak has halted until rugby in Wales until the end of the month and the WRU have announced a payment of £1,000 to each of their clubs.

"It is not clear when we will be able to resume playing. The indications are that it will be months rather than weeks before we can resume," Welsh Rugby admitted of the potential layoff period.

"Financially, the year was tracking to plan. However, circumstances have dictated that the current situation is abnormally challenging on and off the pitch.

"We have more unknowns than knowns. The WRU is forecasting a significant drop in revenue from international and club competitions. Our stadium events programme is also uncertain.

"As a consequence, we will make a substantial loss this year and we are forecasting a knock-on impact into the next financial year at least, as we expect it to take time for our operations to return to business as usual status.

"We understand and acknowledge that the situation is the same for all rugby entities inside and outside Wales, as it is for many Welsh businesses and organisations.

"We will stand alongside key stakeholders and partners in Wales, and in particular recognise our responsibility to play our part to bring stability."

 

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