Wednesday 15 July 2020 18:01, UK
The Rugby Football League (RFL) has announced a return to profit but the governing body forecasts at least a £3m loss due to the cancellation of this year's Ashes.
Financial figures in the 2019 statements presented at Wednesday's virtual annual general meeting show a profit of £75,000, welcome news after losses in the past two years, including a shortfall of £327,000 in 2018.
But the first home Ashes series since 2003 being scrapped because of coronavirus and the wider implications of the pandemic has led to revised forecasts for 2020 and 2021.
A statement read: "An initial forecast profit of £109,000 has been revised, taking into account reduced ticketing and commercial income, as well as reduced staff costs and the impact of Government schemes in place specifically to mitigate the impact of COVID-19, such as the coronavirus job retention scheme.
"Clearly, there will be a financial impact on the RFL but the executive and the RFL Board are working closely on this to adapt the organisation to ensure its financial resilience over the next two years and beyond."
The three-match series was due to get underway in Bolton on October 31, with games then scheduled for the following two Saturdays at Elland Road and the Tottenham Hotspur Stadium.
