WRU financial loss more than doubles to £18m as regions face cut to three

The Welsh Rugby Union's losses more than doubled to £18m in the year to June 2026, and the governing body says the figures back its argument that Wales can no longer carry four professional regions.

The deficit was up from £7.2m a year earlier, and it came even though turnover climbed by £10m to £116.2m. The union pointed to rising energy and staffing costs, alongside fewer tickets sold and lower spending by supporters.

Busier international seasons did not close the gap either. Wales hosted seven men's internationals, two more than the year before, yet match income went up by only about £2m.

Gavin Marshall was blunt about where that leaves the union. "We're living beyond our means as shown by the loss we've made this year which is a significant loss," he said.

Three regions instead of four

The sums at the heart of the restructure are simple. Marshall said the WRU has about £20m to put into professional rugby but is currently spending £26m on the four clubs. The union plans to bring the number down to three, and BBC Sport reported that the Ospreys and the Scarlets are the regions under threat of closure.

"We can't go on like this," Marshall said.

The union's own club is also adding to the bill. Cardiff Rugby, which the WRU owns, lost £1.2m over the financial year. The WRU will put Cardiff back on the market, but not until the restructure of Welsh rugby is finished.

More losses on the way

There is no quick fix on the horizon. The union is already forecasting another loss next year, with an operating loss of £16.1m projected for FY27. That follows a £55m debt-refinancing package the WRU agreed in January 2026 through HSBC and Goldman Sachs.