The company behind the British and Irish Lions made a less-than-expected loss last year as its coffers were boosted by a number of commercial deals.
British and Irish Lions DAC, which is engaged in the promotion of rugby union and organising Lions tours to the southern hemisphere every four years, made a loss of £383,706 (€440,763) in the year to the end of September 2024, its accounts show.
The loss for the year, which was down from €2.3 million the year before, was budgeted for and was funded from retained reserves, the group said.
In a note separate from the accounts, the group said the loss was less than initially budgeted for due to commercial deals with Howden, Canterbury, and DHL, as well as early activation with key sponsors, and a number of additional revenue sources.
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Turnover, which it derives from sponsorship, broadcasting, merchandising, licensing, and membership, came to £2.5 million, which was up from almost £700,000 a year earlier. Administrative expenses came to almost £4 million, up from just over £3 million.
The company is owned by four shareholders: the Rugby Football Union, the Irish Rugby Football Union, the Welsh Rugby Union, and the Scottish Rugby Union. No dividend was proposed.
The company operates in a four-year cycle and 2024 represented the second of those, which it described as a period of planning and preparation as activity levels increased in advance of the tour year.
The company said the year, as with all non-tour years, was expected to be loss-making, and that the loss was covered by retained earnings held within the business from previous tours.
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It said it achieved record sales in travel packages and secured a number of sponsorship and broadcast deals.
Staff numbers increased from nine to 11, while staff costs, which encompass elements such as staff learning and development initiatives as well as staff recruitment costs and travel expenses, came to £2.1 million, up from £1.5 million the year before.
The company said a record financial performance is expected for the 2025 tour, including a record level of commercial partnerships, and record return from the travel programme, which incorporates ticket sales, merchandising sales and licensing agreements.
“The tour is expected to deliver a strong result for shareholders’ unions as well as for players in their first experience of a profit share model,” the company said.
Ben Calveley, chief executive of the British and Irish Lions, said the group was “very pleased” with its performance in the year. “It was a year of intense planning and scaling up as we prepared for the tour to Australia in 2025,” he said.
“In recent years, we have really focused on extending the life and revenue cycle of a tour which generates greater value across a longer time span particularly for our commercial partners.”
