Rugby Australia ‘resets finances, restores pride’ after posting $100m turnaround

Supporters of the British and Irish Lions have given Rugby Australia a financial launchpad ahead of the men’s and women’s World Cups, driving a record $70.6m surplus in 2025.

The result, helped by strong attendance at the three Lions matches and a full calendar of Tests, reverses the pain of the previous period, when RA recorded a $37m deficit.

RA chief executive Phil Waugh said his organisation was delivering on its “promise to reset the game’s finances, restore pride and set a new strategic course”.

“This is an historic and energising period for Australian rugby, and a record operating surplus allows us to look ahead to the future with clarity and confidence,” he said.

While the Wallabies look forward to the first year of the Nations Championship in 2026 – including home matches against Ireland, France and Italy – the 2027 World Cup looms large as an opportunity for the game to re-establish itself in Australia.

A lack of success and waning interest have marked the two decades since the 2003 tournament, when the Wallabies entranced the nation on their way to the final.

The men’s tournament is quickly followed by the 2029 Women’s World Cup, and the Brisbane 2032 Olympics, where rugby sevens will be one of the marquee events at the Games.

RA is cautious about over-investing in the short-term, however, and is in the process of setting up an investment fund grown by compounding interest that can help sustain the game into the future and prepare it for leaner years. RA currently holds $31.4m in cash reserves.

The fund is likely to be swollen by another strong year in 2027, given the success of the 2003 World Cup. Prior to the 2025 result, the largest surplus recorded by RA was almost $33m in the year of the home tournament.

International rugby tourism remains the lifeblood of the game in Australia. RA recorded $262m in revenue last year, more than twice the amount from 2024.

RA’s result in 2025 represented a significant uplift from the previous Lions tour in 2013, thanks to increased take on match days and through non-match events.

Fans at the MCG – one of four Wallabies Tests in Australia last year to sell out. Photograph: Josh Chadwick/Getty Images