the RFL has today circulated its group consolidated accounts for 2024 showing a loss before tax of £507,000.
The accounts, which have been circulated to members of the Rugby League Council ahead of next month’s Annual General Meeting, explain that the Board and Executive team had budgeted to make a planned loss of £800,000 for 2024, which at that point included a write-down in the value of Odsal Stadium – however this was recognised in 2023, resulting in an improved outcome for 2024.
The sale of the lease of Odsal Stadium to the Bradford Bulls was completed in January 2025, and the transaction will therefore be included in the 2025 accounts.
The planned loss was in part to invest in some key areas of the RFL’s business activities where attention was needed to bolster governance and facilitate future revenue growth. That forecast revenue growth should allow the governing body to further invest in its core strategic objectives throughout the sport. On the costs side, there were also higher than anticipated costs arising from the delivery of senior England programmes.
Underpinning long-term financial sustainability, the RFL’s aggregate cash balance increased from £5.911m in 2023 to £6.118m in 2024 as a result of strong treasury management.
Year on year turnover fell to £13.516m from £15.035m in 2023, attributed in the main to lower Government funding from grants from Sport England from £4.819m in 2023 to £3.241m in 2024. This is a result of the cyclical variation in programme activity throughout the funding term, along with how grant income is recognised in accordance with FRS102.
The accounts also show reductions in administrative costs, Group Staff costs, Board costs and directors remuneration, and in the cost of the Match Officials department due to effective cost management, while payments to or on behalf of clubs and other member organisations fell from £5.885m in 2023 to £5.724m.
The July RFL Council meeting will also be asked to approve the election until March 2026, of the five Non-Executive Directors who were appointed following the submission of Members’ Resolutions earlier this year – Lord Jonathan Caine, Joanna Coates, Abi Ekoku, Dermot Power and Emma Rosewarne MBE.