NZR back in black

New Zealand Rugby is back in the black, announcing a $5.5 million net profit for the 2021 financial year at its annual general meeting yesterday despite the challenges of Covid-19.

It is NZ Rugby’s first profit since 2017.

The annual meeting did not include the members’ vote on the $200m private equity proposal from Silver Lake after provincial unions asked for more time to assess some key details.

Chief executive Mark Robinson was hopeful a deal could be struck by early June.

The positive financial result came despite the postponement of the Women’s Rugby World Cup, border restrictions that forced the All Blacks’ Rugby Championship tests to be relocated to Australia and Covid-19 lockdowns that disrupted the Farah Palmer Cup and NPC.

NZ Rugby’s revenue recovered to post-Covid levels by $51m to $189m in 2021, driven mainly by increases in broadcasting revenue and sponsorship and licensing.

NZ Rugby’s investment in women’s and girls’ rugby was $11m in 2021 and is forecasted to be $27m in 2022, including $10m directly to RWC2021. NZ Rugby has set up the Super Rugby Aupiki competition and offered the first fully professional Black Ferns contracts.

Investment in women’s rugby will continue in 2022 with the creation of seven roles dedicated to women’s rugby, four of which are focused on community rugby and developing playing, refereeing and coaching opportunities.

Meanwhile, former All Black Sir Bryan Williams was elected as a life member after being nominated by the Auckland Rugby Union and receiving unanimous approval from members.