9 Sep 2009

World Cup on track despite financial uncertainty

4:11 pm on 9 September 2009

Rugby World Cup organisers say preparations for the 2011 tournament are on track despite financial uncertainties arising from the global economic crisis.

New Zealand is hosting the tournament for the first time since the inaugural event in 1987, and top International Rugby Board officials attended a ceremony at Waikato Stadium in Hamilton to mark the two-year countdown,

Th IRB's chief executive Mike Miller says international rugby is in good shape, despite the financial crisis, although income from corporate hospitality is under pressure.

Rugby New Zealand 2011's chief executive Martin Snedden says the projected loss is still about $30 million but it's undoubtedly under a bit of pressure.

The NZRU-Government joint venture's only income will come from ticket sales with the IRB collecting the rest of the revenue from sponsorship, television rights and other income.