WRU reports £18m loss as it defends cut to three regions

The Welsh Rugby Union has announced an £18m loss for the financial year ending June 2026 and says the figures reinforce its argument that Wales cannot sustainably fund four professional regions. BBC Sport reported that the deficit widened from £7.2m the previous year, even though turnover increased by £10m to £116.2m. The union is also forecasting a £16m operating loss for the next financial year.

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Gavin Marshall, the WRU's chief financial and operating officer, acknowledged that the results were disappointing and said the executive team was accountable for its performance. According to BBC Sport, the union attributed the deterioration to higher energy and staffing costs, weaker ticket sales and lower spending by supporters. The accounts have been shared with member clubs and are expected to be filed with Companies House on Friday.

Marshall said the union was providing £26m across its four professional clubs when its finances left about £20m available for that purpose. He identified major spending commitments including £26m on the stadium, £20m on national teams, £3m in loan interest and £4m for community rugby. The WRU has already decided to reduce the number of regions from four to three, with Ospreys and Scarlets competing for one west Wales licence.

The men's international programme did not generate the additional income the union had anticipated. Wales hosted seven men's internationals during the reporting period, compared with five a year earlier, but match income rose by only £2m. Marshall linked that limited increase to lower average ticket prices, reduced attendances at some games and pressure on household spending. The men's national team contributes almost half of the union's revenue, BBC Sport reported.

Cardiff also remains part of the WRU's financial commitments after the union took control of the club in April 2025. The region recorded a £1.2m loss for the latest financial year. Marshall confirmed that the intention remains to sell Cardiff, but said the union would wait until the restructuring process offers greater certainty before seeking a buyer.

Separately, Marshall confirmed that the WRU received £9.6m through a sale of part of its United Rugby Championship shareholding to CVC Capital Partners. The transaction will reduce annual league participation payments, although the union said the four regions would receive enough of the proceeds to offset that reduction. Member clubs will examine the financial results at next month's annual general meeting.