Sports Direct In Kit Battle With Adidas Hedge Funds Betting Against ManU Slim's Rivalry Plays Out On Mexican Field Atlético Cashing In On Champions League Rooney Tops EPL's Richest Players List Bulgaria's CSKA Sofia Cuts Debt, Costs Rangers Investor Increases Voting Rights WC Win Could Impact Spanish Economy Kaiserslautern Loses $2.6M In '12-13 Villarreal Posts Financial Loss For '12-13
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/March 28, 2013/Finance
New Zealand Rugby Union Announces Healthy Financial Turnaround
Published March 26, 2013
PAINT IT BLACK: The BUSINESS DESK reported Tew said that "the nine of the 15 provincial unions in the ITM Cup were in the black last year," with a combined surplus of NZ$626,000, compared to a total deficit of NZ$631,000 a year earlier. Tew: "There has been a clear focus by the unions on living within their means. We are not out of the woods by any means, and it remains a very challenging environment for any union to grow revenue from sponsorships and crowds." As part of its strategy plan towards '16, "the rugby union wants the sport to be financially self-sustaining across all levels." To help achieve that, it plans to build a shared-service model for back-office functions, "and create real-time reporting and forecasting tools for all provincial member unions to use" (BUSINESS DESK, 3/26).