The Rugby Football League has announced it made a profit of £1million in 2021, its first since 2016.
The governing body puts the unexpected boost down to rigorous cost and financial management and a reshaping of the organisation and its cost base. Additionally, a profit of £380,000 from the sale of its Red Hall office in Leeds as part of a relocation to the Etihad Campus in Manchester.
The RFL, which lost a combined total of £2m from 2017-18, also says the profit of £1.008m was also aided by the deferral of a £900,000 Government Covid loan.
The accounts, which are for the 2021 World Cup organisation as well as the RFL, will be presented for approval at the governing body’s annual general meeting on July 13.
A spokesman said: “This provides a solid platform for the RFL ahead of realignment with Super League (Europe) to form RL Commercial – and with a view to the financial headwinds being faced by the national economy in the post-pandemic recovery, as well as specific challenges for Rugby League.
“Through strong management in a difficult landscape the work that has been completed to date should now position the RFL to meet these combined challenges and commitments.”