Great year for rugby as IRFU make €2m profit

RUGBY has bucked the national trend with the IRFU announcing a profit of almost €2 million for the past season at last evening’s annual council meeting in Dublin’s Ballsbridge Court Hotel.

Delegates were greeted by a table covered in silverware as they entered the hotel’s Grosvenor Suite following a remarkable season of success.

Honorary treasurer Tom Grace readily admitted that the €1.93m surplus came as a surprise, given that the Union had budgeted for a loss.

He warned that vigilance would have to be retained in the current economic climate however.

Irish victories in the Grand Slam, Heineken Cup and Magners League have not just mirrored the healthy situation off-field but made the largest contribution to it.

Other factors were the full programme of autumn internationals and the sell-out of all games in Croke Park’s 80,000-seater stadium.

However any return to GAA headquarters was ruled out by chief executive, Philip Browne in his report.

The Union is facing a four-year period of debt however, as payments for the Aviva Stadium increase, with €78m still due and €38m in the bank.

Construction of the stadium is reported to be on budget, while the scheduled opening date of next April remains the target.

Meanwhile, John Callaghan became the first member of the Armagh club to be elected president of the IRFU. The retired 67-year-old teacher succeeds John Lyons, who presided over the most successful year in the history of the Union.