SPORTS

Fiji Rugby Union Net Income Up, More Than 50 Percent

O’Connor also announced the reconfirmation of Prime Minister Voreqe Bainimarama as FRU president for a further four years after no other nominations were made.
28 Apr 2019 12:41
Fiji Rugby Union Net Income Up, More Than 50 Percent
Prime Minister and Fiji Rugby Union president Voreqe Bainimarama cuts his birthday cake during the FRU annual general meeting at the Novotel Suva Lami Bay on April 27, 2019. Photo: FRU Media

The Fiji Rugby Union reported a net income of $569,343 in 2018, up more than 49 per cent from $281,888 the previous year, it was announced yesterday.

Speaking after FRU’s annual general meeting at the Novotel Suva Lami Bay, chief executive officer John O’Connor said the income growth was down to increased sponsorship and stringent cost control measures.

According the FRU’s 2018 annual report, its income stood at $18,122,540, while expenditure closed at $17,553,197.

Prime Minister and Fiji Rugby Union president Voreqe Bainimarama cuts his birthday cake during the FRU annual general meeting at the Novotel Suva Lami Bay on April 27, 2019. Photo: FRU Media

Prime Minister and Fiji Rugby Union president Voreqe Bainimarama cuts his birthday cake during the FRU annual general meeting at the Novotel Suva Lami Bay on April 27, 2019. Photo: FRU Media

BREAKDOWN OF FINANCIALS

The breakdown of the income included sponsorships worth $8,405,697, World Rugby grants for the High Performance Unit (HPU) worth $3,683,767, $785,561 for the Development Unit and $77,973 as others.

Government grants received through the Fiji National Sports Commission and the Fiji Association of Sports and National Olympic Committee (FASANOC) totalled $2,195,249 and $415,902 respectively.

FRU also earned income through provincial and international tournaments worth $251,215 and $379,160 respectively; while ‘other income’ received totalled $1,928,016.

On the expenditure front, FRU spent $108,200 on advertising, promotion and sponsorship disbursement, while $3,837,195 was used for administration, operating and other expenses.

Union investment for development expenses stood at $1,074,552 while World Rugby investment expenses totalled $702,800.

Expenses on 7s and 15s games totalled $3,654,162 and $4,683,635 respectively, while $3,492,653 was spent on the HPU.

The financial statements were audited by international firm, BDO Chartered Accountants.

BOARD APPOINTMENTS

O’Connor also announced the reconfirmation of Prime Minister Voreqe Bainimarama as FRU president for a further four years after no other nominations were made.

FRU’s nine directors– namely, chairman Francis Kean, deputy chairman Carl Ngamoki, Bobby Naimawi, Jay Whyte, Dr Berlin Kafoa, Ratu Aisea Vosailagi, Max Olsson, Daniel Whippy and Mere Rakoroi – retained their places on the board.

They have been confirmed until next year when FRU will hold elections for two new directors, O’Connor said.

UNIONS’ CONCERNS

He said some unions raised concerns about not being able to sustain funding for their women’s team without the help of FRU.

The governing body has made it mandatory for unions participating in the Skipper Cup Premiership and Vodafone Vanua Championship to field women’s and Under-19 teams.

“We have highlighted that we are negotiating very strongly to have a major sponsor for the women’s competition – both in the Skipper Cup and Vanua Championship,” O’Connor said.

“Hopefully, we can make an announcement on that in the next few months. In the meantime, we have offered them support in terms of funding and transportation and costs for the women’s team.”

Feedback: sheldon.chanel@fijisun.com.fj 

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