Wales Rugby Union Chief Executive Abi Tierney has outlined her vision for the future while addressing a £7.5m loss in the organisation’s latest annual accounts.
The WRU’s annual report shows operating costs rose from £67.1m in 2023 to £75.1m in 2024, largely due to the ongoing impact of COVID-19, high inflation and increased costs related to the senior men’s National Team during a World Cup year.
Additionally, the Union also invested heavily in women’s and girls’ rugby, which contributed to the increased expenditure. However, despite these financial pressures, Tierney pointed to positive signs for the WRU’s future, including a notable increase in turnover.
Turnover has grown to £102.7m, up from £97.9m last year. This increase is partly attributed to the success of the WRU’s commercial partnerships, including a deal with Vodafone, which supports both women’s and girls’ rugby in Wales.
While operating costs were impacted by various factors, including strategic investments and the World Cup, Tierney highlighted the WRU’s ongoing commitment to reinvesting in Welsh rugby.
She said: “Our commercial partners and sponsors have shown unwavering commitment and dedication to Welsh rugby. We are very grateful to them. This is an exciting space with so much potential and currently represents over 17% of our total income and has seen an increase in the year.”
The WRU’s financial results also reflected a decrease in payments to the four professional regional clubs, totalling £28.7m, compared to £35.5m in 2023. This reduction was in line with the new Professional Rugby Agreement.
Furthermore, the WRU sold the Dragons for a nominal £1, which affected the financial statement. Despite these factors, the group managed to reduce its post-tax loss to £2.6m, a significant improvement from the £9.2m loss reported in the previous year.
Tierney concluded by emphasising the WRU’s commitment to a sustainable future, which she believes will be driven by the organisation’s ‘One Wales’ strategy.
“Our ‘One Wales’ strategy will provide a clear direction that will take Welsh rugby on a journey to a prosperous, flourishing and sustainable future by 2029,” she added.
“We will be guided by it and held accountable to its ambitions, which are underpinned by a mission and a commitment to ‘work together to create exceptional experience and opportunities for everyone through our game.”
