About: http://data.cimple.eu/news-article/d9fe4fc42f35a09ee3a08e3bbaf8e5f3ccab82d0eafd7349d5e67c47     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • England's Rugby Football Union announced a £10.8 million ($13.9 million, 11.9 million euros) annual loss on Thursday, with officials braced for more financial bad news during the next 12 months as a result of the coronavirus pandemic. Twickenham chiefs had already budgeted for the 2019/20 year to produce a loss due to the costs of a Rugby World Cup campaign in Japan, where England finished runners-up to South Africa, and only hosting two home games in the Six Nations. Despite reduced revenues, the operating loss for the year of £10.8 million was not as great as the budgeted figure of £11.5 million. Prior to Covid-19, RFU revenues were running slightly ahead of budget. But the loss of all activity in the last quarter of the year saw the RFU finished the year with revenues £23 million behind budget, mostly driven by lost broadcast, ticketing, hospitality and conferences and events income. Last Satuday's English Premiership final between Exeter and Wasps at Twickenham was played behind closed doors due to the virus, with the England-Babarians fixture at 'headquarters' due to have been staged 24 hours later called off completely after a breaches of health protocols involving the invitational club's players. Cancellation of the Barbarians fixture was estimated to have cost the RFU a loss of some £1 million at a time when the governing body had already implemented salary reductions and made 140 people redundant. The RFU did receive British government support through £2 million of income from the Coronavirus Job Retention Scheme (CJRS) and a £0.75 million rates holiday in respect of Twickenham Stadium, with similar assistance expected during 2020/21. Nevertheless, RFU chief executive Bill Sweeney said: "The long-term financial challenges of coronavirus are significant for the entire economy. The RFU relies on revenue from matches and events at Twickenham Stadium and re-invests this back into the game. "With no rugby and no events, we are looking at a potential short-term impact circa £145 million in lost revenues in our 'mid-case' scenario. "We also know that there will be a much longer-term effect and are projecting a four to five-year recovery, with cumulative revenue reductions of around 20 percent." jdg/lp
schema:headline
  • England's RFU announces £10.8m loss amid virus
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
http://data.cimple...tology#hasEmotion
Faceted Search & Find service v1.16.115 as of Oct 09 2023


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 11 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software