The Rugby Football Union has announced a record profit of �18.4m even before taking into account the rewards reaped from England's World Cup win. The figure was 49% up from the previous year's �12.4m with revenues increasing 21% from �59.1m to �71.8m.
The RFU's financial year, which ended 30 June 2003, included the Six Nations triumph and wins over Australia, New Zealand and South Africa.
The profit will clear the �19m debt for the development of Twickenham.
The next phase in the rebuilding of the stadium will see the creation of a new south stand which will see the overall capacity increase from 74,000 to 82,000 people.
RFU chief executive Francis Baron said: "As of today we have �30million net cash in the bank.
"I am pleased to report another set of good financial results for 2002-03, further strengthening our financial position.
"Following England's victory in Sydney, rugby is enjoying an unprecedented level of exposure from which we can fully exploit the commercial opportunities that will arise in the coming months and years."
However, the RFU has no immediate plans to reward the World Cup-winning players from their record profits.
The players, who received up to �83,000 a man for lifting the William Webb Ellis trophy, are currently paid under an agreement with Premier Rugby Limited, signed in 2001.
But the union's chief executive, Francis Baron, said plans are being drawn up to reward the players in the future from lucrative image rights which he described as "outdated".
"I'm sure when the dust has settled a bit next year we will be having dialogue with the players on future arrangements," he said.
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