Rugby World Cup | IRB reap cash windfall from NZ... | Stuff.co.nz
So the IRB is going to make somewhere near £90m from the 2011 Rugby World Cup. That is better than expected, and actually means that the most recent edition of the RWC is the second most profitable tournament in its short history behind the 2007 RWC in France. It is worth remembering, though, that the beneficiary of this better than expected result will not be the New Zealand taxpayer. The NZRU might yet offset some of its 1/3 of the operational loss through a possible higher payout from the IRB, but I don't fancy the chances of the IRB giving the taxpayer a hand from hosting their tournament. And why should they? After all, we are supposed to benefit from around $500m that the event generated - which well and truly offsets some $25m in losses, right?
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Treasury's been less sanguine about the RWC's benefits than has RBNZ. Would be nice to see a session at NZAE where it got hashed out...
ReplyDeleteI'm drafting up an abstract for the realised economic impacts of major sports events in this country (an extension from my PhD research) and I'm hopeful of being a little provocative with my claims. I wonder if others might be interested in a round-table discussion of the Rugby World Cup - it sounds like a good idea! Maybe people from the RBNZ and Treasury would be keen to contribute? It could be enlightening, and potentially very productive! I'll definitely suggest it to the NZAE...
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