While the $7.4m loss represents a 37 per cent improvement on budget, NZR financial officer Nicki Nicol warned of the significant impacts Covid-19 will bring.
“At New Zealand Rugby we are forecasting up to a 70 per cent decline in revenue and we’ve had to quickly adjust our cost base accordingly,” Nicol said at Thursday’s annual general meeting.
“We know this has had an impact across all areas of our game; our players, teams, competitions, programmes and partnerships with provincial unions, Super clubs and others across the industry.