Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Loss-making Wellington Sevens could be moved - NZR

Published 23/03/2017, 01:05
Loss-making Wellington Sevens could be moved - NZR

By Greg Stutchbury

WELLINGTON (Reuters) - The New Zealand stop on the World Sevens Series end could be moved from the country's capital after plummeting fan interest saw the Wellington tournament post a first loss in 18 years in January.

The tournament was once one of the most popular on the circuit, with tickets for the 34,500-capacity Wellington Regional Stadium selling out in minutes and costume-clad fans turning the event into a two-day party.

A clampdown by authorities on misbehaviour and the rise of competing events has seen interest wane considerably since 2014, however, with vast tracts of empty yellow seats providing a backdrop to the action.

"The gate income from the Wellington Sevens this year has left us with a loss for the first time ever," New Zealand Rugby Chief Executive Steve Tew told reporters on a conference call on Thursday.

"That has caused a sobering re-think of just where we sit. It's not a small amount of money and any loss is worthy of attention."

Tew would not confirm exactly how much NZR had lost but said that as part of its review of the tournament, it was considering a move away from Wellington.

NZR has a contract with World Rugby to host a tournament on the 10-stop series until 2019 and Auckland and Dunedin are possible alternative venues.

"We are looking at all the options," Tew said. "It's worth saying that over a prolonged period of time the sevens in Wellington have been a success.

"They have been a great fan experience, they launched sevens in this country in my view and New Zealand Rugby, Wellington rugby, the city and stadium made substantial amounts of money out of it.

"Unfortunately where it sits right now is not where it wants to be, despite significant endeavours to reshape and re-price the tournament.

"It hasn't worked from the fan interest perspective and that is the reality we face."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.