The chairman of the New Zealand Rugby Union says the sport has been living beyond its means for too long.
Mike Eagle made the comments at the Annual General Meeting in Wellington where the union announced a $9.4 million loss for the financial year.
It follows a $15.9 million loss last year.
The forecast loss, while slightly better than anticipated, was attributed to the investment in hosting the Rugby World Cup and to the financial assistance provided to provincial unions and Super Rugby franchises.
Eagle says the global recession is continuing and expectations of dramatic improvement have been dashed by the recent national disasters at home and abroad.
He says the union is facing financial challenges of its own making and they need to ensure that the rugby organisations they're responsible for live within their means.
