New Zealand Rugby forecast 70 per cent loss in revenue in 2020

New Zealand Rugby has predicted a 70 per cent loss in revenue this year following the pandemic coronavirus.

Earlier, the New Zealand board anticipated a loss of $NZ100 million if no more games happen for the remainder of the year but the new figures expect some action in 2020 but with reduced spectators and sponsorship after the outbreak of Covid-19 disrupted the ongoing season.

The news comes after the NZR had already reported a loss of $NZ7.4 million in the 2019 World Cup year which was better compared to the original forecast of NZ$11.8m loss due to strong sponsorship and licensing.

"We are working within government and Ministry of Health guidelines to make sure we can get rugby back on the field as soon as possible," NZR Chief Executive Robinson said.

"But in the meantime we've had to cancel most of our budgeted activity across all levels of the organisation this year.

"This is an opportunity for us to focus on what our priorities are for rugby to get through this challenging time together."

The governing body's chief financial officer Nicki Nicol said the coronavirus crisis had affected all the sports in the country.

"At New Zealand Rugby we are forecasting up to a 70 per cent decline in revenue," she told reporters.

"We have had to quickly adjust our cost base accordingly."