New Zealand Rugby (NZR) reported a net deficit of $8.9 million for the financial year 2023, with total income of $268 million and expenditures of $277 million.
Despite this, CEO Mark Robinson remains optimistic about the organization’s future, pointing to a rebound in player numbers and increased viewership for Super Rugby Pacific.
The full New Zealand Rugby Commercial Board was established in the commercial space, CEO Craig Fenton was appointed, and the NZR+ streaming platform was launched.
The organization experienced a 39% decrease in matchday income, from $28 million to $17 million, due to the impact of a truncated Rugby Championship, the absence of mid-year home series, Māori All Blacks or All Blacks XV matches, and just two domestic tests.
Broadcast income also decreased by $16 million due to the effects of the 2023 Rugby World Cup. However, NZR’s reserves increased to $175 million, up $79 million from 2022, and sponsorship income rose to $121 million, up $8 million.
NZR Group Chief Financial Officer Jo Perez stated that the 2023 financial results reflect the first full year of NZRC in operation and the investments made possible by the Project Future deal with Silver Lake in 2022.
$38 million has been allocated for future commercial initiatives and $11 million for setting up the NZR+ streaming platform. Expenditure decreased by $41 million from $318 million to $277 million, largely due to the 2022 expenditures, including $37 million of distributions to stakeholders from the Project Future deal.
However, NZR continued to invest in community game development, with $42 million going toward women’s and girls’ rugby.
Perez noted that although NZR operates in a challenging, high-inflation environment, it is pleasing to have tightly managed expenditures without compromising ongoing investment in the game.
The company has strengthened its balance sheet, providing resilience against future shocks and enabling targeted strategic investment. The 2023 financial result is an improvement over last year’s, which had a loss of $47 million, a reversal of the $5.5 million surplus in 2021.
