London, May 28 (IANS): World Rugby has rejected a proposal for a major international rugby event in the UK next year aimed at boosting the game's finances after the coronavirus stoppage.
It is reported that former Rugby Football Union CEO Francis Baron had put forward a plan for a six-week 16-team invitational tournament which he said could raise up to 250 million pounds ($306.5 million) shared among all unions involved.
"World Rugby notes a proposal by former RFU CEO Francis Baron suggesting the organisation of a major international rugby event in the UK in 2021 to alleviate the impact of COVID-19 on global rugby," the organisation said in a statement.
"World Rugby does not intend to pursue such a proposal. All stakeholders continue to progress productive discussions regarding the immediate global COVID-19 financial relief strategy and international rugby calendar optimisation, both of which will further the success of Rugby World Cup 2023 in France," it added.
World Rugby has already postponed all international matches scheduled to be held in July this year in the wake of coronavirus pandemic.