Rugby Australia chief executive Phil Waugh says the British and Irish Lions tour of Australia “exceeded expectations” from a financial perspective – providing a massive shot in the arm for the debit-riddled game.

An incredible total of 453,237 people attended nine Lions games across five weeks, culminating with a sold-out Accor Stadium and a 22-12 Wallabies win on Saturday.

RA and the Lions will split the proceeds of the tour and the accountants are busy.

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The 2013 Lions tour of Australia made $35 million in profit and the Australian Financial Review reported that this year’s could generate more than $100m in RA profit.

RA in April reported A$36.8m loss for the financial year but Waugh is hopeful of wiping off a $60m debt by the end of 2025 and then pumping money back into the grassroots.

“We’re working through how the funds are flowing through on the back of the tour now,” Waugh told reporters.

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“But it’s certainly exceeded expectations and I think that when you speak to the Lions executive, they’ll share with you that it’s exceeded expectations.

“I’ve always said that it’s a really good opportunity for us to reset the balance sheet and transparent around the fact that we’ve got the debt facility and ideally we get that down as quickly as possible, given the cost to carry it.

“And so we’re still planning to reset the balance sheet, clear the debt position, and then lean into the next broadcast cycle to get to a financially sustainable model.

“That’s a pretty loose way of saying it’s exceeded expectations and as we get to a more secure position on it, I’ll share the numbers.”

On the field, Waugh – a former Wallabies captain – did not shy away from the fact Australia had now lost two Lions series in a row.

But the performances in Sydney and Melbourne had provided real hope with a home World Cup on the horizon.

“What we saw last week in Melbourne was probably one of the best Test matches I’ve seen for a long time,” the ex-flanker said.

“Three tries each and going down to the last minute. There was a real buy in from not just the playing group, but the broader population. And then to close out that win (in Sydney) and the fashion that the guys did it in, and the passion that they showed for the jersey, the body on the line, the physicality, and on the right side of the scoreboard as well.”

Waugh was confident that the Lions would be back in 12 years time despite rumours that France were trying to take Australia’s place in the touring cycle.

The great frustration is that this will ultimately go down as an opportunity missed.

There was only one point between the teams with the Lions taking an aggregate 68-67 win across the three Tests.

The Wallabies were slow out of the blocks in Brisbane and injuries to Rob Valetini, Will Skelton, Noah Lolesio and David Porecki bit hard.

Australia had just one warm-up game, a scratchy win over Fiji, while the Lions had six before the first Test.

“We had a plan that we thought that a lot of the clubs would go deep in the (Super Rugby Pacific) finals,” RA director of high performance Peter Horne said.

But yet again, only the ACT Brumbies reached the semi-finals.

“We’ll review and we’ll have a look at it and whether should we add another game or should we have sort of a hit out here and there,” Horne said.

“It’s pretty raw at the moment, just finished, but collectively I’m pretty proud of what we’ve been able to do in a short amount of time…

“Twelve months ago, we really didn’t have a hell of a lot of systems in place that were aligned and we’ve been able to pull that together in a relatively short period of time.”

Former Wallabies halfback Nick Phipps said on Stan Sport’s Inside Line last week that Queensland Reds coach Les Kiss should be taking the national reins now to give him enough time in the saddle ahead of the 2027 Rugby World Cup on home soil.

Wallabies coach Joe Schmidt’s contract ends on July 19 and Kiss will coach the Reds next year before stepping up.

“We’ve thought deep and hard about it and the level of continuity that we have across the management team and also the similarities, I guess, between Joe and Les, gives us great confidence that it’s the right plan and we’re on the right path.”

Schmidt will name his Rugby Championship squad on either Thursday or Friday this week before the team flies out for a daunting assignment against the world championship Springboks on August 17 (AEST).

The Test futures of Will Skelton (La Rochelle) and Taniela Tupou (Racing 92) remain cloudy while they are playing in France but Horne agreed both giants were excellent in Saturday’s win over the Lions.

“They’re a point-of-difference. And they’re actually really good within the group, culturally, collectively. I think it’s well documented,” Horne said.

“And even Will’s come out publicly around he’s enjoyed his time within the Wallabies. We’ll continue to work with those players wherever they’re playing, if they’re identified… they bring a point-of-difference and we’ll continue to work with them.

“And we’re really happy with their involvement. Coming back into the squad, an opportunity for Taniela, but also Will’s been immense, regardless, from the playing field.

“Off the field, he’s a great player, a great person. And he really brings the boys together, takes time, gets to know them. I can’t talk more highly.”