Rugby: NZRU to provide significant sum to Canterbury

The NZRU will give Canterbury rugby a "special grant" in the wake of February's earthquake. Photo / Getty Images

Canterbury rugby's finances are set to be bolstered by a "special grant" from the national body in the wake of February's earthquake.

The amount of the grant is yet to be determined but is significant enough to be recorded as a future liability on the New Zealand Rugby Union's (NZRU) latest balance sheet, and it could top $1 million, The Press newspaper reported today.

The Crusaders and Canterbury rugby have been hit hard in the pocket after AMI Stadium was closed following the earthquake, with the Crusaders' being forced to play the majority of their home matches at smaller, less profitable, venues.

Financial data had already been sent to an independent auditor appointed to tote up the final bill, the newspaper reported.

"The money will be a grant rather than a loan," Canterbury Rugby Football Union chief executive Hamish Riach said.

"While a loan would be helpful in a short-term sense, a grant gives us more security.

"To have this funding package means the future of rugby in Canterbury at all levels is more secure."

NZRU chief executive Steve Tew said the board would decide how much the payout would be but it was important that they continue to support Canterbury, which was "strategically important" to New Zealand rugby, across all levels.

Rugby Park, in suburban Christchurch, has all but been confirmed as Canterbury's home venue during this year's national provincial championship, the smaller ground putting more financial strain on the CRFU.

- NZPA