Just been reading, everyone get's panic stricken over RA's financial position etc, SARFU is apparently technically insolvent after a R100m loss for 2024.
Not according to what SARU announced at their AGM last week:
"South Africa’s decision to continue its investment into membership in rugby competitions in the northern hemisphere initially led to a R93m (c.GBP3.8m) group loss in 2024, but the governing body had already wiped out that deficit with a strong start to 2025.
"That was revealed at SARU’s annual meeting in Cape Town on Thursday."
Goes on to quote CEO:
"We had budgeted for a loss in 2024 in the expectation that the members would approve the private equity transaction that they had sought, releasing funds to cover the deficit.
“When that did not happen, we continued with our planned commercial reset, and other revenue generation plans, which have borne fruit. We are in the very rare position among our international peers of continuing to be debt-free and confident of posting a surplus in 2025.”
The South African Rugby Union (SARU) are on course to buck the global trend and report a profit of more than ZAR 100m (c.GBP4.1m) for this year.
www.planetrugby.com