Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Rugby-Rugby Australia chief executive Castle set for axe: reports

Published 04/04/2020, 02:41 pm
Updated 04/04/2020, 02:42 pm

SYDNEY, April 4 (Reuters) - Rugby Australia's chief executive Raelene Castle could be sacked in a matter of days, local media reported on Saturday, as the embattled governing body struggles to deal with a financial crisis compounded by the coronavirus shutdown.

Castle this week took a 50% pay cut and laid off 75% of Rugby Australia staff, saying the body faced losses of up to A$120 million ($71.94 million) if no more rugby was played this year.

With no pay agreement secured with the players, and their representatives saying they had yet to be shown sufficient financial information to enter into negotiations over cuts, the sport has endured another week of negative headlines.

The Australian and The Daily Telegraph both reported that Castle had lost the confidence of a board to which three new members were added at this week's Annual General Meeting.

Former Australia captain Phil Kearns, who lost out when New Zealander Castle was appointed in 2017, was named as her likely successor by both newspapers.

Rugby Australia was unavailable to comment on the reports.

Castle took significant flak for her handling of the dismissal of Wallabies fullback Israel Folau last year, the costs of which contributed to a A$9.4 million loss in 2019. has also been criticised for spurning an offer from Fox Sports TV to extend their broadcast deal and instead taking the rights to market, potentially leaving Rugby Australia without a television deal at the end of 2020.

($1 = 1.6681 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.