Supporters of the British and Irish Lions have given Rugby Australia a financial launchpad ahead of the men’s and women’s World Cups, driving a record $70.6m surplus in 2025.

The result, helped by strong attendance at the three Lions matches and a full calendar of Tests, reverses the pain of the previous period, when RA recorded a $37m deficit.

RA chief executive Phil Waugh said his organisation was delivering on its “promise to reset the game’s finances, restore pride and set a new strategic course”.

“This is an historic and energising period for Australian rugby, and a record operating surplus allows us to look ahead to the future with clarity and confidence,” he said.

While the Wallabies look forward to the first year of the Nations Championship in 2026 – including home matches against Ireland, France and Italy – the 2027 World Cup looms large as an opportunity for the game to re-establish itself in Australia.

A lack of success and waning interest have marked the two decades since the 2003 tournament, when the Wallabies entranced the nation on their way to the final.

The men’s tournament is quickly followed by the 2029 Women’s World Cup, and the Brisbane 2032 Olympics, where rugby sevens will be one of the marquee events at the Games.

RA is cautious about over-investing in the short-term, however, and is in the process of setting up an investment fund grown by compounding interest that can help sustain the game into the future and prepare it for leaner years. RA currently holds $31.4m in cash reserves.

The fund is likely to be swollen by another strong year in 2027, given the success of the 2003 World Cup. Prior to the 2025 result, the largest surplus recorded by RA was almost $33m in the year of the home tournament.

International rugby tourism remains the lifeblood of the game in Australia. RA recorded $262m in revenue last year, more than twice the amount from 2024.

RA’s result in 2025 represented a significant uplift from the previous Lions tour in 2013, thanks to increased take on match days and through non-match events.

The annual report also notes two court matters in relation to the Melbourne Rebels will commence in May, and RA “intends to pursue recovery of its legal costs in the event of a successful defence”.

RA chair Daniel Herbert said the game was now “united and aligned”.

“Following a comprehensive organisational reset in 2024, Australian rugby now has an excellent platform as we prepare for the generational opportunities presented by the home men’s and women’s Rugby World Cups in 2027 and 2029 respectively.

“There is still much work ahead as we build a successful and sustainable model for Australian rugby but, given the great strides we have made in recent years, I am more confident than ever in the strategic direction and delivery of our great game at all levels.”

RA also reported its “Get Into Rugby” program for children aged four to seven saw a 24% year-on-year growth, and senior XVs club participation has now recovered beyond pre-Covid numbers.

Remuneration for RA’s senior executives rose from $991k to $1.228m.