British & Irish Lions Tour helped Rugby Australia pay off AUS$ 60M debt

The blockbuster series, which saw the Lions beat the Wallabies 2-1, generated as much as AUS$120 million (£58.4 million), according to The Sydney Morning Herald. That figure is around 20% higher than the original AUS$100 million forecast, thanks to a joint-venture model between RA and the Lions which combined commercial rights into a centralised package.

The cash influx has enabled RA to repay AUS$60 million (US$39.2 million) owed to private equity firm Pacific Equity Partners (PEP). That debt formed part of an AUS$80 million credit facility agreed in 2023, taken to ease the governing body through the lingering financial damage of Covid-19.

Chief executive Phil Waugh hailed the repayment as a turning point: “Repaying the credit facility ahead of schedule is a significant milestone for the game and reflects the commercial success of the British & Irish Lions series, cost discipline and the efficacy of Rugby Australia’s organisational reset.”

He added: “This milestone marks the achievement of the first of three horizons we are committed to reaching and provides a strong foundation for us to build towards the next two. “RA’s next horizon is the establishment of a sustainable financial model for the game through the 2026/2030 period, and work is well progressed in delivering on this.

“In parallel, we are designing a framework for how best to utilise the profits from the Lions series and the 2027 and 2029 Rugby World Cups to grow Australian Rugby’s long-term sustainability. This could potentially be in the form of an investment fund to drive investment in the game from end-to-end and will be strongly aligned to RA’s Green to Gold strategy.”

RA had reported a AUS$36.8 million deficit in 2024, but chairman Daniel Herbert insisted the governing body had already “changed the directory” of rugby in Australia. That prediction now looks accurate, with the governing body not only erasing debt but also eyeing record surpluses in the coming years.

Lions CEO Ben Calveley previously predicted the 2025 tour returns could be “roughly three times higher” than any previous record – and the early signs suggest he wasn’t far wrong.