The IRFU have announced their “strong financial performance” in the 2014/15 season will allow them increase funding to the provincial and club game by €4 million.
Honorary treasurer Tom Grace, speaking at tonight's Annual General Meeting at the Aviva stadium, pointed to an €8.7 million surplus due to "continuing strong ticket sales, new broadcast agreements and the prize-monies generated by the national team thanks to their success."
Coincidentally, the union received almost €4 million for winning the Six Nations this season.
They also reported a net cashing operating surplus of €1.2 million, which is an improvement on the €1 million deficit in 2013/14, but Grace reiterated the potentially catastrophic financial impact if the government decide to keep Ireland’s Six Nations matches as free-to-air.
“There are significant risks facing the Union, including economic uncertainty, the free-to-air issue and the relative financial strength of our partners and competitors in International and provincial rugby,” warned the former head of insolvency at PricewaterhouseCoopers.
"For the second year in a row the success of the national team in the RBS 6 Nations has boosted the level of prize money secured from the tournament. The strong support of the national team at the Aviva stadium remains a vital source of revenue for the union and contributes massively to the IRFU's ability to provide funding to all levels of the game in Ireland. "
More to follow.
