22 mins ago
NZRL Finances Show Further Improvement
The New Zealand Rugby League today announced an audited profit of $315,000 for the 2010 financial year, an increase on the $158,000 surplus reported in 2009.
Chairman Scott Carter said the result was particularly satisfying given increased investment into the sport at a number of levels, and the difficult economy.
"The challenge for any sport is to grow while living within its means," he said.
"The board has a firm belief in not spending what you don't have, and adopting conservative forecasts around less predictable income such as Test match revenue.
"However, the NZRL has been able to improve revenues from its commercial and media rights and then reinvested that money in growing the support structure for the clubs throughout the country."
Carter said funds continue to be set aside to build up cash reserves for the 2013 Rugby League World Cup year.
'In the past the RLIF (Rugby League International Federation) has retained World Cup commercial rights and profits," he said.
"Unless we can change that thinking, we will need to fund domestic operations in 2013 from reserves."
The 2010 result featured consolidated revenues of $5.91 million, up from $4.45 million in 2009.
Chief executive Jim Doyle advised income was generated primarily from the Anzac Test in Melbourne, the Four Nations tournament co-hosted by New Zealand and Australia, SKY Network TV broadcasting rights, TAB, SPARC funding, grants and commercial sponsorships.
Expenses also rose to $5.59 million compared to $4.29 million in 2009, with Doyle highlighting increased expenditure on game development and support personnel throughout the country, the new National Competition, community programmes and Four Nations win bonuses for the Kiwis.
He said the financial result rounded off a highly successful year on and off the field for the NZRL.