The Rugby Football Union (RFU) has scrapped the controversial long-term incentive plan (LTIP) that led to a major rebellion against CEO Bill Sweeney earlier this year.
Sweeney faced and survived a vote of no confidence in February after it emerged that he had been paid £1.1m in 2023-24 despite the RFU making a loss of £40m.
An independent review of the LTIP, which made up £358,000 of Sweeney’s remuneration, criticised a lack of transparency over the scheme and it has now been halted.
The RFU’s annual report for 2024-25, published today, states: “There is currently no LTIP in place and no immediate plans to introduce a new scheme.”
Sweeney and the rest of the executive team declined a three per cent pay increase given to all other employees, although the CEO still earned a salary of £702,000.
The RFU made around 40 redundancies last year in an attempt to cut costs but still made another financial loss, albeit far reduced, of £1.9m.
That was despite the governing body recording its highest revenue outside of the World Cup-hosting year of 2015-16.
RFU makes loss despite £50m revenue uplift
Income grew to £228m, up £53m, due to a full complement of England men’s home fixtures at Twickenham – the RFU’s main driver of revenue. Takings for 2023-24 were dented by the World Cup in France wiping out the usual autumn internationals programme.
Generating more income from Twickenham – now officially the Allianz Stadium following a £100m naming rights deal – is a key priority, with improvements in the works and an ongoing tussle with local authorities over the right to stage more additional events, such as concerts.
“This has been a year of progress amid challenges. We’ve made genuine advances on and off the field, yet we know parts of the game remain under real pressure,” said Sweeney.
“The recovery of the community game, the resilience of our clubs, and the engagement we’ve seen through our roadshows show what’s possible when we listen and act together.
“The success of the Red Roses and Rugby World Cup 2025 is a powerful springboard to inspire the next generation, and the England men’s team continue to build as they work through their World Cup cycle.
“There is plenty to be positive about while being clear eyed about the challenges ahead.”