The IRFU has reported an improved financial position for the year ending July 31st, 2025, with a reduced operating deficit of €4.2 million compared to €18.4 million the previous year.
The union’s strong balance sheet means it remain in a stable position, although chief executive Kevin Potts admits they face challenging times in seeking to achieve sustainability and their ambition of breaking even over a four-year World Cup cycle.
The improved financial returns for the 2024/25 season were due to the IRFU’s income rising by €18.8 million, driven primarily by increased international match revenues (namely the Autumn Nations Series) and broadcast income.
The IRFU also benefited from an additional match outside World Rugby’s November window last season, the 150th Anniversary match against Australia at the Aviva Stadium. Similarly, with the game against New Zealand in Chicago and three Autumn Series games at the Aviva this month, the union expects to break even this season.
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Ireland’s record representation on the British & Irish Lions tour of Australia also ensured an unprecedented financial boost for the IRFU, as each union receives a return for every player it provides to the squad.
However, the loss of the home November Tests in a World Cup year (in the region of €12 million in 2023/24) will present similar challenges in 2027/28, especially given the Ireland men’s team generates around 80 per cent of the IRFU’s income.
The IRFU reported cash and cash investments (mostly comprised of 10-year ticket sales, which last year were significantly increased in price) of €62.6 million, as well as net assets of €81.6 million.
Due to the stability of its finances, chief financial officer Thelma O’Driscoll said the IRFU does not expect to go into debt at any point over the next decade, but added: “We need to get to a break-even position across each four-year cycle, and despite an improved performance this year this is still some way off where we need to be.”
Following the IRFU’s decision in May to disband the men’s sevens programme, Potts did not rule out further cuts in the near future pending a recent internal review.
“We are determined to live within our means,” Potts said, “and it’s a challenge and we’re going to have to make hard calls.”
A one-off sum of €2 million in capital infrastructure grants for the four provinces – which went towards projects such as the newly opened Centre of Excellence in Cork – brought the IRFU’s overall investment in the domestic game to €16.4 million for the 2024/25 season.
The union also invested €9.4 million in the women’s game, an increase of €1.1 million from the previous year and more than quadruple the level of 2020/21. Of this, about €4 million was generated by the women’s game itself.
“At some point in the future, right across the world, we’re all hoping [women’s rugby] will start to generate a return in its own regard,” said Potts.
He added that last season’s €9.4 million is “probably the maximum the IRFU can invest in the women’s game” and additional funding would have to come from external sources, welcoming the Government’s agreement to do so.
Potts reiterated plans to stage annual fixtures in the US up to the 2031 Rugby World Cup to tap into the Irish diaspora there “and hopefully generate additional revenues, which is what we need”.
However, referring to this month’s game against the All Blacks at Soldier Field, he accepted: “In terms of the event itself, the production of it, there were definitely failings there, and debriefs have been had by both New Zealand and Ireland with the promoter. I would expect, at future games in the USA, you’ll see a significant improvement.”
It is understood the IRFU invests around €60-70 million in the men’s High Performance Unit, with the provinces taking that investment up to €70-75 million.
Broadcast revenue has fallen across most of the global game in recent years, including Ireland, but the newly launched Nations Championship might improve television deals.
“The values of broadcast have stagnated and fallen back for rugby over the last five or six years,” said Potts. “However, there are green shoots emerging, the interest in the Nations Championship. I’m happy to sit here today and say I’m more optimistic. I think the broadcast values going forward are showing signs of increase, which is badly required.”
He added: “There will be more announcements around the Nations Championship in the coming weeks and months. There are serious plans to innovate around the games and the tournaments to try and attract younger audiences. The plans have been shared with our broadcasters and the broadcasters are excited and hence the expected positivity around that.
“We have to do something different. The Nations Championship is how it’s branded. The whole narrative around every fixture matters and a playoff or destination finals at the end of the tournament brings something completely different.”
