RFU chief paid £1.1m despite record losses and job cuts
The RFU’s annual report shows an operating loss of £37.9m - the highest it has recorded
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Your support makes all the difference.Rugby Football Union chief executive Bill Sweeney is to be paid £1.1m for the last financial year despite the governing body reporting record losses and making 42 staff redundant.
The RFU’s annual report, that includes its accounts for the year until June 30, shows an operating loss of £37.9m - the highest it has recorded.
Also within the report is the remuneration for board directors which shows that Sweeney is being paid a combined salary and bonus of £742,000 as well as a one-off sum of £358,000, lifting the total to £1.1m.
Sweeney’s salary is an 8.5 per cent increase over 12 months after he was paid £684,000 in 2023.
The additional performance-based amount of £358,000 falls under the ‘Long-term Incentive Plan’, a 2021 scheme set up after the pandemic by the board and remuneration committee to recognise “the need to retain a strong and stable executive team to cover what has been an incredibly challenging three-year period”.
“During the pandemic, the executive team took deeper and longer salary cuts than the rest of the organisation along with a reduced bonus,” RFU chairman Tom Ilube said.
“The LTIP, put in place post-Covid, recognised the material and voluntary reduction in remuneration, despite an exceptional increase in workload, while also incentivising the executive team to remain in post.”
The RFU announced in September that 42 members of staff were being made redundant due to financial losses that it described as “unsustainable”.
The rise in Sweeney’s pay also comes at a time when England are underperforming on the pitch, having won five and lost seven of their 12 games in 2024.
The operating loss of £37.9million is explained by the absence of autumn fixtures at Allianz Stadium due to 2023 being a World Cup year and fewer Six Nations matches being staged at Twickenham.
However, at the equivalent point four years ago underlying losses were only £27.1million, with the increase being put down to inflationary cost rises and reduced Six Nations revenues from broadcast and sponsorship.
“Four years ago the game faced an unprecedented and unforeseen set of challenges and costs triggered by Covid,” Ilube said.
“We end this latest four-year cycle with a strong balance sheet, no debt, a robust cash position and positive P&L reserves. That is the result of strong leadership and hard work from everyone involved in rugby.”
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