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Premiership Rugby

RFU pay off remaining Twickenham debt

A Gallagher Premiership Rugby ball

In effect it means that the English governing body is now officially debt-free and has a net cash balance of £23m (US$36.1m).

"Although we all recognise that 2003/04 is a difficult year for all northern hemisphere unions, due to their being no autumn Test matches because of the World Cup, we believe the RFU now has the strongest balance sheet in the game, providing the financial foundations to deliver our strategic plan objectives," said Nick Eastward, Twickenham's Financial Director.

Eastward announced that the profits will be invested into England's beleaguered club scene, and – subject to planning approval – the redevelopment of Twickenham's South Stand.

The tidiness of the RFU's books is mainly due to recent TV deals. But this traditional cash-cow was aided by a new golden goose – the Twickenham Experience, which has generated profits of £12m (US$18.8m) since its opening.

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