world : Scottish Rugby announces job cuts to stem financial losses

world : Scottish Rugby announces job cuts to stem financial losses
world : Scottish Rugby announces job cuts to stem financial losses

Monday 1 July 2024 10:30 PM

Nafeza 2 world - Chairman John McGuigan says the board has taken the "difficult" but "responsible" approach to "secure the longer-term future of our game."

He added the redundancy process would be handled with "care and compassion.”

“The financial sustainability of Scottish Rugby is our absolute priority as it enables all the other things we aspire to do to work," McGuigan said.

The organisation says its plans and budget was reviewed by independent financial experts.

Scottish Rugby currently has £16m in the bank with another £7.4m due to arrive in July as part of investment company CVC's deal to take a stake in the Six Nations.

The expected £10.6m loss is over 13 months to the end of the current financial year, with £6.7m lost in the 12 months to to the end of May 2024.

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