Friday , May 29 2020
Breaking News
Home / Sport / Australia pockets $14 million from World Rugby emergency loan

Australia pockets $14 million from World Rugby emergency loan

“The financial implications of the virus have been significant for Rugby Australia and this emergency relief funding will provide us with certainty for the next 12 months and enable us to close off our 2019 accounts,” he said.

“The funding, in combination with the extensive cuts made across the business, provides us with the short-term impetus to see through the pandemic but does not solve all of the challenges.

“The board is continuing to work through its plans for organisational reform and additionally, there are key conversations to be had across the game’s stakeholders about our rugby offering for 2020 and beyond.

“The World Rugby funding provides a much-needed boost and a level of security as we continue this important work.

Loading

“Our game has suffered an enormous impact globally from COVID-19 and we are very grateful for the support of World Rugby and commend them on their leadership in managing this issue for the global game.”

RA, which yesterday announced former senior media executive Hamish McLennan as chairman, is also hopeful of securing federal government help through an all-of-sport package distributed through the Coalition of Major Professional and Participatory Sports.

RA has secured a cut of more than 80 per cent to its player wages bill over a six-month period to the end of September, but will have to renegotiate if and when it gets a domestic competition up and running.

The majority of the organisation’s head office staff are on stand-down for that period, while the company’s top 15 executives are on 30 per cent pay cuts. McLennan warned of further cost cutting ahead.

About admin

Check Also

Cricket Australia announce international schedule for 2020-21 season

T20I Series against West IndiesAustralia v West Indies at Riverway Stadium, Townsville (October 4)Australia v …