New Zealand Super Rugby clubs face financial instability

Financial instability is affecting the Super Rugby structures in New Zealand, with all five clubs recording at least one annual net loss between 2019 and 2025. A confidential Deloitte report, titled Building the Competition the Game Needs, indicates the current economic and commercial model is under significant pressure.

The Hurricanes experienced notable deficits, losing NZ$1.4-million in 2023 and nearly NZ$2-million in 2025. Without financial support from NZ Rugby, only the Chiefs in 2023 and the Blues in 2022 would have remained profitable. Every other club-year during this timeframe resulted in a loss.

The report warns that the existing system is becoming structurally unsustainable. Projections suggest that if no changes are implemented, the clubs will face a combined loss of NZ$20-million within five years. This decline is linked to shrinking club memberships and a 25% drop in attendance since 2020.

Competition is also being lost to wealthier overseas leagues and rival sports. The Top 14 currently employs 26 players born in New Zealand. To address these issues, Deloitte suggests increasing the Super Rugby salary cap from NZ$4.7-million to NZ$9.7-million per club to align more closely with global averages. This adjustment would also raise the average player base salary from NZ$195,000 to NZ$295,000.