The Fiji Rugby Union has reported a profit of $1.6 million for the last financial year, a significant turnaround following a loss of the same amount in the previous year. This announcement was made during the Annual General Meeting (AGM) held at the Grand Pacific Hotel.
Board trustee Jenny Seeto emphasized a commitment to maintain this positive trend in the future. She credited the profit to sound financial management, increased sponsorships, and the commercial director’s efforts in securing additional funding to support Rugby House operations. From January to September this year, internal audits revealed profits exceeding one million dollars. Seeto expressed optimism for 2024, suggesting that if financial management continues effectively, another substantial profit could be achieved, although she noted that team expenses consume a considerable portion of funds.
FRU interim board chairman Peter Mazey disclosed that the union is now compliant with all World Rugby requirements after successfully clearing over $7 million in debts, including a repayment of $2.7 million to World Rugby, which had previously been overlooked. This financial recovery has allowed the union to rejoin the World Rugby Council, where their CEO, Rovereto Nayacalevu, will participate in voting.
In a restructuring move, seven new directors were appointed to the Fiji Rakavi Football Union Trust board. Among these are Koli Sewabu, the former high-performance manager for Fiji Rugby, and various directors overseeing finance, legal matters, commercial ventures, and women’s rugby. The board is set to elect a chairman in their upcoming meeting.
This turnaround for the Fiji Rugby Union signals a positive outlook for the future. With strengthened financial oversight and a focus on sustainability, the organization is well-positioned to rebuild its reputation and stability within the rugby community. Such growth not only benefits the union but also enhances the overall landscape of rugby in Fiji, fostering further development and potential success on the international stage.
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