UPDATE: New Zealand Rugby has announced a loss for the last financial year and forecast a decline in revenue of 70 per cent for 2020.
The powerhouse rugby nation has been unable to dodge the impact of the coronavirus pandemic, with NZR chief executive Mark Robinson outlining the financial price to be paid for halting the sport at all levels last month.
Robinson had previously estimated a loss in excess of $NZ100 million ($A94 million) if no rugby is played this year.
The 70 per cent estimate allows for a return to the field in 2020 but for crowd and sponsorship takings to be well below budget.
"We are working within government and Ministry of Health guidelines to make sure we can get rugby back on the field as soon as possible," Robinson said.
"But in the meantime we've had to cancel most of our budgeted activity across all levels of the organisation this year.
"This is an opportunity for us to focus on what our priorities are for rugby to get through this challenging time together."
There remains hope that a 10-round Kiwi-only Super Rugby competition can be played and that the All Blacks could at least feature in some Tests against Australia if travel restrictions are eased.
The New Zealand organisation released its annual report on Thursday detailing its financial position after the Rugby World Cup.
NZR's loss roughly equates to $A6.9 million, compared to Rugby Australia's tentative 9.4 million loss announced last month after the organisations' annual general meeting.
Chief financial officer Nicki Nicol said in a statement that a further $93 million in cash reserves would help the organisation navigate the COVID-19 crisis.
New Zealand Rugby has already introduced a host of cost-cutting measures across its organisation - freezing half of its forecast player spend for the remainder of the year and slashing staff salaries by 20 per cent across the board.
Nicol described the lower than forecast loss as a "success story" for the organisation.
"When you consider the significant impact on broadcasting and match day revenue in a Rugby World Cup year due to a condensed international programme, the commercial income from sponsorship and licensing has been a real success story,” she said.
NZR's income from matches and broadcast fell in 2019, something that is to be expected with fewer home Tests played in a World Cup season.
Its biggest increase in income came from sponsorship and licensing, with a $72NZ million up from $NZ68 million in 2018.
Its greatest costs were in competition spending, a number that sits outside expenditure on their national teams.
Spending on "Teams in Black" decreased by $NZ3 million in 2019, according to the organisation's reports.
Outside of its cash income and spending, NZR lost just shy of $NZ4 million in 2019 on equity investments, believed to be partly its stake in Sky Sports.
