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‘We knew what was coming’ – Sweeney pleased with RFU’s progress
The Rugby Football Union (RFU) is in a “strong position” but “not out of the woods,” according to Chief Executive Bill Sweeney, following the announcement of revenues reaching a 10-year high of £228m in its latest financial accounts.
The RFU’s latest annual report reveals the second-highest revenues in its history, with losses decreasing from £42m in 2023-24 to £2m.
While the union’s long-term future at Twickenham remains uncertain, Sweeney expressed confidence that the sport is emerging strongly from a challenging period.
“We still have financial challenges, but we are in a good place,” he told BBC Sport.
“We sit here today feeling things have moved on well and we are in a really strong position going forward.”
“We are not completely out of the woods – but we have no debt, a strong balance sheet, and are generating a lot of revenue as well.”
The significant losses in the 2023-24 accounts triggered controversy, placing Sweeney’s position under scrutiny, particularly given his £1.1m remuneration.
Sweeney defended his position at a special general meeting in January, where he survived a vote of no confidence.
The latest accounts, covering June 2024 to June 2025, represent the first year of a four-year cycle, with the improved financial outlook significantly aided by seven home men’s international matches during that period.
Conversely, the losses incurred in 2023-24 can be partly attributed to the substantial costs associated with preparations for the 2023 Rugby World Cup, coupled with only five games held at Twickenham.
Current revenues have reached a 10-year high, surpassed only by the year of the home men’s Rugby World Cup in 2015-16.
“In this first year of our new four-year cycle, a positive start is key as we know the fourth year always brings substantial losses,” said Francesca Pierce, RFU Chief Financial Officer.
“This is even more important, given rising cost pressures and the wider consumer backdrop.”
The RFU stated it is in discussions with World Rugby to reassess the revenue model in men’s Rugby World Cup years, which they acknowledge as “a recognised challenge across the game.”
The RFU report highlights the ongoing financial challenges facing the sport, including inflationary pressures and a heavy reliance on matchday revenues.
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The redevelopment of Allianz Stadium is also a priority, described as “an essential long-term project” with estimated costs exceeding £650m.
However, the redevelopment is contingent on the local council granting permission for the stadium to host 15 non-rugby events each year, a point of contention thus far.
Sweeney emphasized that the ability to stage this number of events is non-negotiable, and the RFU is developing contingency plans to potentially relocate from Twickenham in a worst-case scenario.
“Compared to some of the other stadiums in the country, we are the most under-utilised,” he explained.
“Wembley has 55 events, with 25 football. At Tottenham they have 34 in addition to football. We have three [besides rugby].”
“To make the investment meaningful, we have to have more non-rugby events here.”
“Our plan A is to stay here; we contribute a huge amount to the local economy – in excess of £90m – and we contribute an even bigger figure than that to the Greater London economy.”
“We want to stay here, and they’ve told us they want us to stay. But we need those extra 15 events.”
“We have a number of fall-back positions – we would probably have to relocate – but I would stress our focus is on Plan A.”
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