THE 2020-21 Scottish Rugby Union Annual Report was issued earlier this [Thursday] evening, including audited accounts for the year up to 31st May 2021, revealing that turnover has fallen to £52.498m, from £55.468m last year (when the last two months were impacted by Covid) and from £61.077m in the year up to May 2019 (the last full year before the pandemic).
Ticket income was zero, compared to £10.520 the previous year, while broadcasting revenue rose £8.609m to £19.620m, essentially as a consequence of the timing of the 2020 Six Nations Championship whereby £4.3 of that tournament’s revenue tipped forward into 2021 because it wasn’t completed until the Autumn.
‘Commercial Income’ dropped £1.3336m as a function of the challenging Covid environment. ‘Professional Rugby’ income dropped from £10.139m to £5.4, reflecting the lack of activity. Similarly, ‘Hospitality & Other’ income dropped from £3.295m to £1.071m.
However, ‘Development Income & Grants’ were up £7.244m from £10.620m to £17.864m gratis a £13.5m grant from the Scottish Government, and £9.85m was booked in relation to CVC’s investment in the PRO14 tournament.
Overall, the accounts show a surplus for the year of £10.5.
The report states that: “Total investment in domestic rugby during the year through club support and rugby development direct and indirect expenditure was £5.0m compared with £7.1 in the prior year”, whilst £7m of the Scottish Government grant was spent on ‘Operating Costs and Infrastructure’ and £2.25m was spent on ‘Stadium Infrastructure and Maintenance’.
Rugby employees have dropped from 329 to 323 and other employees have dropped from 116 to 113, with he average wage across the business dropping from £61,500 to £59,200. £3.1m was claimed under the Coronavirus Job Retention Scheme.
The highest paid Director – presumably the Chief Executive Mark Dodson – received aggregate emoluments of £403k (£454k the year before), comprising entirely of salary and benefits with no pension contributions. Bonus awards were waived by the executive Directors in the year to 31st May 2020 and no discretionary bonus awards were made in this financial year.
The aggregate emoluments to the Directors (executive and Non- Executive) during the financial year was £1.024m (comprising £988k fees and salaries and £36k in pension schemes) down from £1.427m the year before.
Chairman of the Board, John Jeffrey, was paid £26,775 by Scottish Rugby in addition to £22,500 from World Rugby and £27,00 from Six Nations.
“Without doubt this was an exceptional year that generated a standalone set of financial results which a number of notable factors have contributed towards,” said Dodson. “These include ongoing trading and operations, addressing the continuing challenges presented by the Covid-19 pandemic, the benefits of the investment in the Guinness Pro14 tournament by CVC and the receipt of government support funds, which the Union and the game gratefully acknowledges.
“This has enabled us to have some confidence in our ability to continue to support the game in Scotland, at every level, on both an operational and financial basis as we move out of the grip of the pandemic and can therefore present a stronger balance sheet at 31st May 2021 to support a recovering trading position moving forward.”