Finance
Rugby-RFU chairman Ilube resigns amid review of huge payouts to executives
Published by Global Banking & Finance Review®
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 20, 2024
2 min readLast updated: January 27, 2026
RFU Chairman Tom Ilube resigns following controversy over executive bonuses amid record losses. An independent review is underway.
(Reuters) - Rugby Football Union's (RFU) board chairman Tom Ilube said on Friday he was stepping down, after it emerged that huge bonuses were paid to CEO Bill Sweeney and other executives despite the English governing body posting a record operating loss.
The RFU Council has set up an immediate review into the circumstances surrounding the bonuses, after it was shown that Sweeney was paid a total of 1.1 million pounds ($1.4 million) in the last accounting year.
The sum included a 358,000 pound bonus that was part of a long-term incentive plan (LTIP) for top executives. Under the plan, agreed after the executives took pay cuts during the COVID-19 pandemic, five others received a total of 1 million pounds.
RFU reported a loss of 37.9 million pounds over the same period, and made more than 40 staff redundant in September.
"I have decided to step down from my role as Chair of the RFU as recent events have become a distraction from the game, but will stay on to ensure a smooth transition to a new Chair as soon as one is in place," Ilube said in a statement shared by the RFU.
"I’m pleased that an independent review of the LTIP scheme has been commissioned and look forward to its findings once completed."
British media reported on Wednesday that Sweeney and Ilube were set to face a confidence vote after almost 200 member clubs and bodies demanded a special general meeting, to be held in February.
($1 = 0.7994 pounds)
(Reporting by Chiranjit Ojha in Bengaluru; Editing by Kate Mayberry and Hugh Lawson)
The main topic is the resignation of RFU Chairman Tom Ilube amid controversy over executive bonuses and financial losses.
Tom Ilube resigned due to the distraction caused by the controversy over large bonuses paid to RFU executives amid financial losses.
The LTIP scheme is a long-term incentive plan that awarded bonuses to RFU executives, which is now under review.
Explore more articles in the Finance category
