Latest news with #NickMulvenney
The Star
08-05-2025
- Business
- The Star
Rugby-New Zealand Rugby posts $11.6 million loss despite record income
(Reuters) -New Zealand Rugby posted a NZ$19.5 million ($11.60 million) net deficit for the 2024 financial year despite record income of NZ$285 million as the result of a 10% rise in expenditure. It is a third successive loss for the governing body of the nation's most popular sport following a NZ$8.9 million deficit in 2023 and a NZ$47 million loss in 2022. NZR blamed the loss on foreign currency hedging on sponsorship revenue and increased commercial investments but said its NZ$174.5 million reserves reflected a strong cash position. "Achieving a new high watermark of $285m income, healthy commercial revenue streams in what is a difficult international operating environment, and reinvesting into the game at all levels, are grounds for optimism," NZR chairman David Kirk said in a statement. "NZR retains an incredibly strong balance sheet which is vital for rugby in New Zealand and its ability to weather any major shocks." The settlement the body reached with INEOS last month after the British-owned multinational conglomerate pulled out halfway through its six-year sponsorship deal had no impact on 2024 revenues, NZR said. ($1 = 1.6810 New Zealand dollars) (Reporting Nick Mulvenney; Editing by Jacqueline Wong)
Yahoo
14-03-2025
- Politics
- Yahoo
Olympics-Olympians make climate plea to IOC presidential candidates
By Nick Mulvenney SYDNEY (Reuters) - More than 400 Olympians from nearly 90 countries around the world have joined in a call for the winner of next week's International Olympic Committee presidential election to make climate their top priority. The signatories to an open letter calling for IOC action on climate change range from Australia's most decorated Olympian, swimmer Emma McKeon, to Cyrille Tchatchet II, a weightlifter who represented the refugee team at the Tokyo Olympics in 2021. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. "To the incoming President, we ask that over the coming years and the course of your presidency one issue be above all others: the care of our planet," the letter read. "Rising temperatures and extreme weather are already disrupting competition schedules, putting iconic venues at risk and affecting the health of athletes and fans. "Extreme heat is raising real concerns about whether Summer Games can be held safely in future years, and Winter Games are becoming harder to organise with reliable snow and ice conditions diminishing annually." Seven candidates are vying to replace Thomas Bach as president in a ballot of IOC members at Costa Navarino, Greece, on March 20. The Olympians called for an early meeting with the successful candidate after the election to discuss environmental concerns, and said the IOC must strengthen existing commitments on the cutting of carbon emissions. They also want the IOC to advocate for "broader environmental action", champion sustainable practices with cities hosting Olympics, and "set a standard" on sponsorship deals with companies which have a poor pollution records. Sailor Hannah Mills was one of the British Olympians who initiated the letter and she said the recent wildfires in Los Angeles, the venue for the 2028 Summer Olympics, had illustrated that climate change was an immediate threat. "I'm not sure we've ever seen so many athletes from around the world speak with one voice," said the twice Olympic champion, who is an IOC sustainability ambassador. "The terrible LA wildfires couldn't have been clearer: the time is now to set a course for a safe, bright future. "The Olympics has held and fulfilled the dreams of so many over its history but I can't have any bigger dream than a future in which my children can thrive." The IOC's existing "reduce, compensate, influence" climate commitment includes a 50% reduction in carbon emissions by 2030, compensating more than 100% of the residual emissions and encourages stakeholders and fans to act against climate change. World Athletics chief Sebastian Coe, multiple Olympic swimming champion Kirsty Coventry, who is Zimbabwe's sports minister, and IOC vice president Juan Antonio Samaranch are among the favourites to succeed Bach. International cycling chief David Lappartient, Prince Feisal Al Hussein of Jordan, International Gymnastics Federation head Morinari Watanabe and Johan Eliasch, who heads the International Ski Federation, complete the list of candidates. Prince Feisal said he welcomed the "powerful message from Olympians around the world", while Coe, who has been vocal on the impact of climate change on athletics, said he would be delighted to meet the athlete advocates to "share ideas and initiatives".
