New Zealand Rugby Union says it expects to save money next year when some of its top players leave, reducing pressure on its budget.
The union reported a loss of $9.4 million at its annual meeting on Thursday.
It blamed the shortfall on the investment needed to host this year's Rugby World Cup and financial help for provincial unions and Super Rugby teams.
Union chairman Mike Eagle says the sport has been living beyond its means for too long.
But he says the All Blacks budget for 2012 will be about $1 million less than this year because some of the most experienced and well-paid players are likely to leave after the tournament, leading to savings for the union.
