We're back after a bit of a break to pull out our calculators and dig into the financial inner workings of the business of rugby. Following Rugby Australia's announcement of a $4.5M loss in the last financial year, the prospect looks more positive with the news that Australia will host the Rugby World Cups in 2027 and 2029, along with a lucrative British and Irish Lions tour down under in 2025. To help us make sense of it all, we speak to Dr David Bond, a qualified accountant and professor from UTS who spends his spare time analysing the annual reports of Rugby Australia as well as serving as a board member of the Sydney Rugby Union. Join us as we dig into the hidden budget items, talk about how Wallaby and Super Rugby broadcast revenue has fluctuated, the importance of gate receipts and just how significant the bail outs from World Rugby and the banking system have been to keep the administration from going under. Dig in!