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SYDNEY, AUSTRALIA - APRIL 10:  Rugby Australia CEO Phil Waugh speaks to the media during a Rugby Australia Media Opportunity with 100 days to go until the first Test in the 2025 British & Irish Lions tour, at Hickson Road Reserve on April 10, 2025 in Sydney, Australia. (Photo by Matt King/Getty Images for Rugby Australia)

Rugby cops heavy $38m loss

Hopes are high for a financial windfall for Australian rugby this year and officials need it after revealing a massive deficit.

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