New Zealand expects Rugby World Cup loss
Expected losses from the 2011 Rugby World Cup have reached nearly US$30 million, with high ticket prices expected to result in lower sales and revenues for the tournament.
Rugby New Zealand 2011 Limited (RNZ 2011), the joint venture between the New Zealand Rugby Union and New Zealand Government, is reliant on ticket sales for its income, since the International Rugby Board collects broadcast and sponsorship revenues from the tournament.
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Martin Snedden, chief executive of RNZ 2011, told the New Zealand Herald that the organisers are no longer expecting a sell-out, instead budgeting for 1.5 million tickets to be sold out of 1.7 million available.
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