Sell-outs lift revenue for Scottish Rugby
The return of fans to international matches helped Scottish Rugby post an increased revenue of £57.9m for the financial year 2021-22.
The delayed fully audited accounts show revenue up £5.5m to sit within 5% of pre-pandemic levels.
Six of seven matches at Murrayfield sold out in 2021-22, contributing to a ticketing revenue of more than £16.4m (an increase on 2019/20).
Some £8.1m (roughly 14% of total turnover) was spent on the grassroots game in Scotland, including £1m more on domestic rugby than in the previous year, as well as a near-doubling of club support monies apportioned through the Supporting Clubs Investment Programme (SCIP), which was designed to help clubs steer through the pandemic and which will, going forward, become the Club Investment Fund.
The accounts display a deficit of £5.3m on the base business, the key drivers of the deficit being increased utility costs and the financial costs of increased health and safeguarding measures during the pandemic.
Scottish Rugby welcomed investment from private equity partners into the Six Nations, which drove a gain on disposal of investment of £34.2m, bringing its net surplus after tax to £29m for the year.
More detail will be provided when the second part of the organisation’s AGM is held next Wednesday. This comes on the back of an update on its sporting and business performance, produced in the Annual Review 2021-22, which was published on 3 August.
Scottish Rugby chief executive Mark Dodson, said: “After the challenges brought about by the Covid-19 pandemic, I am pleased that our financial statement 2021-22 paints a positive picture of recovery for rugby and the support shown to our national, professional and club game is clear to see.
“These accounts show how well Scottish Rugby has withstood the difficulties of Covid-19, which affected every sports organisation and indeed wider business the world over.”
In the financial year to 31 May 2021, Scottish Rugby received a total of £20m worth of funding from the Scottish Government, including a £15m grant.
“We would like to again thank our people, partners, sponsors and the Scottish Government for their support during that unprecedented period,” added Dodson. “There are challenges that still lie ahead for us to make a complete recovery. We will be working hard to achieve this. “