Rugby Australia’s finances are back on track. Now for an extra Bledisloe match

April 25, 2026 — 9:33am

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Australia might not be a rugby country per se, but it is an events country par excellence.

Rugby Australia’s surplus of $70.6 million for 2025, along with wiping out the large debt that cost about $7 million to finance in 2024, is nothing short of a stunning turnaround.

Chief executive Phil Waugh and chairman Dan Herbert’s oft-stated plan to set RA up for perpetuity is on track, particularly if the Wallabies can somehow get on a roll and secure real corporate support following a strong World Cup campaign next year.

But the other interesting aspect of the annual report is how it effectively builds the case for the third Bledisloe Test that RA is aggressively pursuing.

Everything old is new again in the RA accounts: the big profit line is old-fashioned backsides on seats – tickets sales from big events, big ideas and the right execution.

For example, RA earned $147 million from match revenue in 2025, dwarfing sponsorship revenue of $55 million and broadcast revenue of $38 million.

There are two caveats here. This masthead understands the........

© Brisbane Times