Thorn good for Reds' profits
IN THE SPOTLIGHT: Queensland Rugby Union Chairman Damien Frawley believes the appointment of Brad Thorn as Reds head coach will not only benefit Super Rugby but also the financial stature of the franchise.
Recently at the Annual General Meeting, the franchise revealed that the 2017 financial reports show great improvement since 2016.
The QRU’s bottom line profit for the 2017 financial year was $22,263, an improvement on the 2016 financial year loss of $789,380.
In 2017, the QRU continued its restructuring as part of a streamlining of operations. The movements have benefitted the franchise as sponsors opted to remain with the union.
The Reds chairman Frawley hopes the appointment of Thorn will continue the growing financial pattern into 2018.
"Rugby in Australia has faced a number of financial and reputational challenges this year and the QRU has not been immune from experiencing some of the broader knock-on effects," Frawley stated.
“However, at a Board level, we continue to adopt a proactive approach to the financial challenges we have faced and we are now beginning to see some green shoots of recovery. The organisational changes and restructuring undertaken in 2016 and 2017 will enable the organisation to create a sustainable platform for growth.
"Furthermore, the recent appointment of Brad Thorn as the Reds head coach, coupled with Bond University Queensland Country’s title-winning campaign in the 2017 National Rugby Championship - and recent Wallabies debuts for a number of our emerging players - gives us great encouragement for an improved Super Rugby season in 2018,"