Rugby Football League reports profit of over £1million

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The Rugby Football League has announced it made a profit of £1million in 2021, its first since 2016.

The governing body attributes this unexpected boost to careful management of costs and finances and an overhaul of the organization and its cost base. Plus, a profit of £380,000 from the sale of its Red Hall office in Leeds as part of a move to the Etihad campus in Manchester.

The RFL, which lost a combined total of £2million from 2017 to 2018, also says the £1.008million profit was also helped by the deferral of a £900,000 Covid government loan.

The accounts, which relate to the organization of the 2021 World Cup as well as the RFL, will be presented for approval at the governing body’s annual general meeting on July 13.

A spokesman said: “It provides a solid platform for the RFL ahead of realignment with the Super League (Europe) to form RL Commercial – and given the financial headwinds the national economy is facing in the recovery post-pandemic, as well as specific challenges for Rugby League.

“Thanks to strong management in a difficult landscape, the work that has been completed to date should now position the RFL to meet these combined challenges and commitments.”

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The article Rugby Football League announces profit of over £1million appeared first on Loverugbyleague.com.

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