Me thinks being a Ru fan living in NZ you should concern yourself with matters closer to home:

Deloitte Sports Review of the 14 semi-professional and amateur rugby unions competing
in New Zealand’s premier provincial rugby competition, the ITM Cup.

Through a financial review of each union’s
annual financial accounts, our findings show that
collectively revenues are falling and accumulated
reserves are being eroded. This, combined with
the well documented difficulties of several
unions, highlights the increasing pressures
placed on those charged with the operational
and financial stewardship of the game.

Financial Performance
There has been a significant decline in revenues over
the previous five financial years, falling by $16 million, or
19%, to $68 million in FY11. Approximately 50% of this
decline occurred in the most recent financial year.
Key revenue streams are sponsorship and grants,
and match related revenues. Other revenues include
transfer fees, event/franchise management, insurance
proceeds and sundry revenue.
The $16 million decline in revenue is primarily related
to lower match related incomes, which has fallen from
$21 million to $9 million over the five years, representing
a drop of 58%.
Income from grants and sponsorship is heavily
reliant on contributions from the NZRU and grants from
gaming operators.
The five provincial unions with professional Super
Rugby based teams generate in excess of 50% of total
revenues although the extent of this has declined from
55% to 51% between FY07 to FY11.
As a consequence of declining revenues, total
expenditures have reduced across the major categories:
team and match related costs, growing the game
and administration expenses. The chart to the right
highlights that the greatest reduction is with team and
match costs, suggesting those in management positions
are consciously reducing match and player costs with
falling revenues.
Collectively, the unions have not generated a
consolidated operating profit in any of the last five years.
Losses range between $0.6 million to almost $7 million,
although the consolidated deficit dropped to its lowest
level in FY11. In total, cumulative operating losses over
this period amount to $16 million.

www.deloitte.com/assets/Dcom-New ... w_2012.pdf

Me thinks being a Ru fan living in NZ you should concern yourself with matters closer to home:

Deloitte Sports Review of the 14 semi-professional and amateur rugby unions competing
in New Zealand’s premier provincial rugby competition, the ITM Cup.

Through a financial review of each union’s
annual financial accounts, our findings show that
collectively revenues are falling and accumulated
reserves are being eroded. This, combined with
the well documented difficulties of several
unions, highlights the increasing pressures
placed on those charged with the operational
and financial stewardship of the game.

Financial Performance
There has been a significant decline in revenues over
the previous five financial years, falling by $16 million, or
19%, to $68 million in FY11. Approximately 50% of this
decline occurred in the most recent financial year.
Key revenue streams are sponsorship and grants,
and match related revenues. Other revenues include
transfer fees, event/franchise management, insurance
proceeds and sundry revenue.
The $16 million decline in revenue is primarily related
to lower match related incomes, which has fallen from
$21 million to $9 million over the five years, representing
a drop of 58%.
Income from grants and sponsorship is heavily
reliant on contributions from the NZRU and grants from
gaming operators.
The five provincial unions with professional Super
Rugby based teams generate in excess of 50% of total
revenues although the extent of this has declined from
55% to 51% between FY07 to FY11.
As a consequence of declining revenues, total
expenditures have reduced across the major categories:
team and match related costs, growing the game
and administration expenses. The chart to the right
highlights that the greatest reduction is with team and
match costs, suggesting those in management positions
are consciously reducing match and player costs with
falling revenues.
Collectively, the unions have not generated a
consolidated operating profit in any of the last five years.
Losses range between $0.6 million to almost $7 million,
although the consolidated deficit dropped to its lowest
level in FY11. In total, cumulative operating losses over
this period amount to $16 million.

www.deloitte.com/assets/Dcom-New ... w_2012.pdf