Fiji Rugby announces shortfall

The Fiji Rugby Union have announced a financial loss of approximately $334,000 for 2007 on the back of a successful Rugby World Cup campaign.

The Fiji Rugby Union have announced a financial loss of approximately $334,000 for 2007 on the back of a successful Rugby World Cup campaign.

The FRU spent close to $2m to prepare the national side for the successful tournament in France, where the Fijians reached the last eight for the first time in 20 years.

However, despite the turnaround from the previous year where Rugby House made a savings of $349,504, the FRU said it was pleased with the overall outcome.

FRU Director of Finance Iowane Naiveli is due to present his report, along with a presentation of their strategic plan, development, referees and High Performance Unit at the annual general meeting, which will take place at the Waterfront Hotel in Lautoka on Saturday.

Meanwhile, Chief Executive Ratu Timoci Tavanavanua insisted that the money was well used with substantial returns expected.

“We've made a loss because a lot of our funds were being diverted to our preparations for the Rugby World Cup.” he said, speaking to The Fiji Times.

“I think the deficit outweighs the value of what we were able to achieve in France. It was money well invested because we've been able to show the world what we are capable of on the rugby field.

“If you put a value on the performance of the team, it far outweighs the shortfall.

“We have had interests from firms and we are looking into their proposals.”