Roaring profit for New Zealand Rugby after Lions tour

Roaring profit for New Zealand Rugby after Lions tour

New Zealand Rugby made a profit of NZ$33 million, largely thanks to the recent British and Irish Lions tour.

New-Zealand-Rugb
WELLINGTON:
New Zealand Rugby (NZR) announced a record NZ$33 million profit (RM93.4 million) on Thursday on the back of last year’s British and Irish Lions tour.

The 10-match tour was almost a sell-out with 342,000 tickets sold as tens of thousands of Lions fans flooded into New Zealand for an event that only happens once every 12 years.

NZR said the tour poured an extra NZ$40 million (RM110 million) into its coffers, doubling the amount it made the last time the Lions visited in 2005.

It said government data estimated the economy as a whole benefitted to the tune of NZ$245 million (RM694 million).

NZR generally runs at a loss – it was NZ$7.5 million (RM21.2 million) in the red last year – and chief executive Steve Tew said the organisation would use the windfall wisely.

“The reality is we won’t have those advantages over the next three years, but we have planned for that and will therefore continue to be smart about our costs and where our priorities lie,” he said.

The three-Test series ended in a 1-1 draw as the Lions, made up of players from England, Ireland, Wales, and Scotland, exceeded expectations against the world champions.

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