22 Apr 2009

ARU scraps 2015 World Cup bid

7:27 am on 22 April 2009

Australia has withdrawn its bid for the 2015 World Cup and might out of the 2019 race due to an "exorbitant" guarantee fee charged by the International Rugby Board.

The ARU's chief executive John O'Neill says it would be a struggle finding a bank willing to guarantee the $240 million hosting fee amid the global credit crunch and 10 years out from the 2019 tournament.

Australia were among eight countries who confirmed last year their intention to bid for the 2015 World Cup.

England has since signalled its bid could be in jeopardy becaue of the global financial situation, but Japanese officials have said the world economy would not affect their bid.