Rugby Australia finally hands 2019 financial statement to players’ union

Rugby Australia finally handed over its 2019 financial statement to the players’ union on Thursday.

Australia’s top rugby players can finally make informed decisions on potential pay cuts across the Super Rugby franchises. Picture: Getty Images

Rugby Australia finally handed over its 2019 financial statement to the players’ union on Thursday, allowing the game’s stars to analyse the predicament of the code before settling on a pay cut.

It’s understood the players would be willing to sacrifice up to 50 per cent of their wages until June 30, depending on the advice they receive from RUPA’s accountants, who are poring through the financial statement.

RUPA chief executive Justin Harrison had requested the document from RA boss Raelene Castle 12 days ago. RA had shown RUPA graphs, but that was not enough information for the union.

Castle issued a statement on Wednesday night saying her organisation had given RUPA and the country’s 192 professional players “enough information” for them to be able to begin discussions on a pay cut.

However, by Thursday morning, RA had given over the crucial 2019 statement.

The players are well aware they must sacrifice money to save the game. Some have privately expressed frustration that RA has dragged out the process while other codes have settled on player wage cuts.

The concession from RA came after Castle stood down 75 per cent of her staff for three months, while pressure continues to mount on the chief executive on a number of fronts.

Castle was slammed by former RA employee Rod Kafer this week after projecting a $120m loss in revenue if no games are played for the remainder of the year due to the COVID-19 crisis.

RA has already announced a $9.4m loss for the 2019 year that included a settlement payout, believed to be $4m, to Israel Folau.

That’s on the back of Castle’s failure to secure a broadcast deal before the crisis hit, meaning RA is vulnerable when negotiations recommence in coming months when businesses will be dealing with the significant economic fallout of the coronavirus.

Australia’s top players hold grave concerns about the financial future of the code, with the competition structure still uncertain given border closures and ongoing health concerns regarding the spread of the virus.

They will have a clearer picture by Friday of how RA has been spending its money.

THE DAILY TELEGRAPH