'Changed the trajectory': Legend lands key job as rugby makes bullish prediction

Wallabies great Nathan Sharpe has been elected Rugby Australia president as the once cash-strapped organisation predicts it will be debt free by 2026.

RA announced a deficit of $36.8m at its 2024 annual general meeting on Wednesday after it dug deep into a $80 million credit facility.

But the immediate future appears much brighter from a financial perspective, starting with a cash bonanza from this year's British and Irish Lions tour.

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RA has also locked in a new five year broadcast deal with Nine and Stan, worth $240 million, as massive events loom on the horizon.

Australia is hosting Rugby World Cups in 2027 (men) and 2029 (women) while sevens will be a drawcard at the 2032 Brisbane Olympics.

The Lions tour is on target to set new attendance records with ticket sales to exceed 500,000.

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"There is still much to do but the pathway to a prosperous future is clear," RA chief executive Phil Waugh said.

"RA is forecasting a record surplus in 2025 which should provide us the option of exiting the credit facility with PEP (Pacific Equity Partners)."

Stan Sport reported a 40 per cent increase in viewership for last year's Autumn Nations Series compared with 2022.

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"The game in Australia has made significant progress over the last 12 months and, while that is no doubt pleasing, we are acutely aware that there is still plenty of work ahead of us for Australian rugby to realise its full potential," RA chairman Daniel Herbert said.

"Reform of the magnitude Rugby Australia completed in 2024 inevitably requires one-off strategic costs and investments, which are represented in the annual report.

"Those outlays have changed the trajectory of Australian rugby and placed the game on a strong footing for the future, reflected in the significantly improved five year broadcast deal with Nine announced last week."

Sharpe – a two-time John Eales medallist and stalwart of 116 Tests for the Wallabies – currently serves as a director at Talisman.

He assumes the presidency from Joe Roff.