Financial Shortfall of 2023 Rugby World Cup Raises Concerns for Future Events
France's Court of Auditors highlights significant financial losses from the rugby tournament, prompting warnings for the organizers of the 2030 Winter Olympics.
Pierre Moscovici, the first president of France's Court of Auditors, presented a critical report on the financial implications of the 2023 Rugby World Cup, revealing that the event, despite its popularity, will result in substantial financial losses for the French Rugby Federation.
These losses are estimated between €11 million and €30 million, endangering the financial stability of the federation and its 1,900 affiliated clubs across the country.
This situation has raised alarms regarding the management of large sporting events in France, leading Moscovici to advocate for the establishment of a 'state doctrine' to guide future events, including the upcoming 2030 Winter Olympics in France.
The report emphasized the need for a reassessment of financial planning and risk management strategies for major international sporting events, particularly in light of the lessons learned from the Rugby World Cup's 'grave deficiencies' as outlined by the French oversight body.
The financial challenges indicate a potential shift in the approach to organizing significant sports competitions in the country and may influence how resources are allocated and managed in upcoming large-scale events.