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The Rugby World Cup money pit

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The RFU and IRFU both reported massive losses (£37m and €18m respectively) on account of the spend of playing in the world cup and earning next to nothing from it. I presume other unions bar the FFR are the same.

What exactly are rugby's governing bodies doing? Both the sport's largest showcase and European club rugby's "elite" competition are run at a significant loss to competitors.

I don't have much to add, I find it perplexing, but I think it's an interesting discussion.
 

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