England's weakest Six Nations showing has played a part in the Rugby Football Union projecting a 10 million pound deficit for the financial year ending June 2026, as the Guardian has learned.

Steve Borthwick guided the side through a tough tournament where they lost four of their five games, resulting in a fifth-place standing in the Six Nations and lower prize money following what the RFU called a highly disappointing event.

Placing second from the bottom, after finishing second the prior year, has been noted by the union as a contributor to an anticipated underlying deficit of 4 million pounds and an overall net loss of 10 million pounds, compared to an underlying profit of 8 million pounds and a total loss of 2 million pounds in the previous period.

RFU chief executive Bill Sweeney stated that the union has kept performing in line with its plans despite major challenges, though the financial outcome would have been poorer without an added autumn match against Australia inserted into the schedule last November outside the standard Test window.

Borthwick received a qualified endorsement after England's notable loss to Italy in March, and he gained the RFU's support following a review of the Six Nations campaign. A tough defeat to South Africa came next, followed by a strong win over a weak Fiji team and a close victory against Argentina.

The RFU has stated that a 10 million pound loss shows ongoing progress in financial results and has pointed to a 50 percent rise in sponsorship income since 2024 as a main factor. The union plans to reveal a new agreement featuring a sponsor on the back of England jerseys, which it says will deliver the largest sponsorship revenue in world rugby, surpassing France and New Zealand. The union also notes financial recovery since Covid and ongoing support for strategic growth efforts.

England held only two home Tests during this year's Six Nations, and the projected 10 million pound loss highlights the dependence on men's matches at Twickenham, which make up roughly 85 percent of the union's income. RFU sources say a light schedule matters more than England's Six Nations results. As a result, in June the RFU submitted a planning request to Richmond council to permit additional concerts at Twickenham to boost earnings from its main asset.

The RFU is moving forward with its 660 million pound stadium redevelopment but aims to raise the number of non-sporting events at the venue to eight, over a maximum of 15 days, by 2029. Currently, Twickenham can host only three such events. The RFU's concert plans will cost up to 2 million pounds, with a decision from Richmond council due in October.

As previously reported by the Guardian, the RFU's plans faced a setback last September when the council's licensing committee decided to keep the event limit at three, sending the union back to revise its approach. The RFU has no bank debt but will need a loan for the stadium work and must secure approval from its council.

The financial year ending 2027 is projected to bring better results for the union, but the year ending 2028, which includes the 2027 World Cup, will be the toughest in the four-year cycle due to tournament costs in Australia and the lack of autumn internationals at Twickenham.

For the year ending 2024, the RFU recorded a record operating loss of 37.9 million pounds and disclosed details of Sweeney’s long-term incentive plan bonus that raised his pay to 1.1 million pounds, leading to widespread criticism in English rugby and a special general meeting in March 2025.