WHEN Tom Ilube starts as the new RFU Board chairman at the end of this month he will discover that the RFU finances he inherits from his predecessor, Andrew Cosslett, are in a parlous state.
Although RFU chief executive Bill Sweeney is touting that the bank debts of the Union have now been reduced from £75m in 2020 to c. £60m, the picture is not rosy. This is because pre-Covid the RFU had a total level of debt, including debentures, of £250m
The bank loan reduction is almost certainly because the RFU has received the first instalment of about £20m of the £...