By Lehlohonolo Lehana.
SA Rugby revealed that it spent a quarter of its total income directly on the Springboks, Springbok Women, Springboks Sevens, Junior Boks and other national teams in 2025.
It presented the Annual Financial Statements to member unions at Thursday’s Annual General Meeting (AGM) in Cape Town.
The group revenues increased by 29% from R1.5bn in 2024 to R2bn in 2025 with R500m spent directly on the Springboks (R281m) and the High-Performance Department (R221m) into which all other national teams fall.
Rian Oberholzer, CEO of SA Rugby, noted that the investment had borne immediate on-field dividends with the Springboks’ continued success mirrored by other national teams.
The Blitzboks won the HSBC SVNS World Championship in 2025 (and have extended that success into 2026), while the Junior Springboks won the U20 world title for the first time in 13 years in 2025, and claimed the SANZAAR U20 Rugby Championship title for the first time on Saturday.
It was also a breakthrough year for the Springbok Women as they reached the play-off stages of the Rugby World Cup for the first time and broke into the world’s top ten.
Those achievements were the product of the newly formed High-Performance Department, whose R221m expenditure included the costs of the high-performance centre in Stellenbosch and an expanded playing programme for national teams.
Another R195m was spent on national team players (and referees) – to secure their image rights for commercial purposes – as well as to insure them against injury. Direct investment into the 15 member unions saw R400m spent on the playing of the game in the form of distributions to members.
The increased revenues were in part fuelled by record sponsorship revenues, leaping by 51% from R488m to R739m (following a commercial reset) to exceed broadcast revenues of R678m for the first time.
Revenues were also boosted by a change in the Test match hosting model, through which SA Rugby took ownership and delivery of Springbok matches. It yielded R402m in revenues with a direct match day cost of delivery of R213m.
There was also a double-digit growth year-on-year in licensing with the increase in merchandise sales, through the opening of two Springbok stores and market appetite, continuing to drive resurgent royalty revenue to R78m.
Despite the jump in revenues, SA Rugby still ended the year reporting a pre-taxation loss for the group of R40m highlighting the ongoing challenges towards long term solvency and sustainability; challenges reported in the annual financial statements by all Unions in the world. The need for a reserve fund or some investment fund is still relevant and will stay critical in the modern era of sport and rugby.
Despite the loss, the accounts received an unqualified audit based on a detailed management solvency assessment and action plan, supporting the view that SA Rugby could continue as a going concern into the foreseeable future.
Mark Alexander, president of SARU, said: “SA Rugby has demonstrated its resilience in a challenging operating environment for many years – especially through COVID – and we have taken deliberate steps to future-proof our financial sustainability.
“Investment in new competitions – such as Rugby’s Greatest Rivalry and the Nations Championship – as well as new technology, together with a reset of our commercial programme to strengthen long-term revenue generation and profitability will bear fruit this year.”
Alexander also confirmed that all competitions involving South African teams are under review.
It is understood that the possibility of South African teams withdrawing from Europe’s premier club competition, Champions Cup.
No South African club has progressed beyond the quarter-finals of the Champions Cup since joining the competition in the 2022-23 season, with teams generally placing greater emphasis on the Vodacom URC.