22 Mar 2009

Rugby World Cup losses 'not likely to climb'

1:56 pm on 22 March 2009

The head of the company responsible for running the 2011 Rugby World Cup is dismissing speculation that losses from the event could climb as high as $90 million.

Rugby New Zealand 2011 has always projected that the financial loss from the tournament would be about $30 million, which the taxpayer and the New Zealand Rugby Union will pick up.

The company's chief executive, Martin Snedden, says suggestions in the media of a $90 million dollar loss are pure speculation.

He says the current economic climate could affect the event, however the impact is not likely to become clear for another year, and at this stage there is no reason to revise projections.

Mr Snedden says no date has yet been set for the ticket pricing structure to be released, though he says some matches will cost a lot more than New Zealanders are used to.

As with many big sporting events, he says, there will be an opportunity for fans to pay off tickets in instalments.