Rugby-loving investors could in the future have the chance to buy bonds issued by the Australian Rugby Union and backed by revenue from the 2003 World Cup.

The idea of selling securitised bonds, similar to mortgage-backed securities, may be up for discussion at the ARU board meeting.

Spokesman Strath Gordon confirmed that World Cup revenue-backed securities were one option being considered by the board.

"There's money that could be better spent now than later," he told AAP.

"We have some objectives that we're trying to achieve and that's one way of doing it."

A variety of gaming and entertainment entities recently started issuing similar securities, and the ARU appears to be examining ways to cash in on this growing phenomenon.

However Mr Gordon said there was unlikely to be any immediate decision regarding the issue of rugby bonds.

"It's not a current and active issue for us," he said.

"It's something that has been discussed here over a period of months and it may come up at today's board meeting.

"It's certainly not number one on the hit parade with our board, ... it's an ongoing thing."

Mr Gordon declined to say when the ARU board might consider the bonds proposal more seriously, adding that the sports body had been discussing the idea for "over a year".

He denied a report in the Australian Financial Review on Friday that the proposal was driven by fears that the 2003 World Cup, to be co-hosted by Australia and New Zealand, may not be as financially successful as previously thought.

"We're in discussions with the International Rugby Board right now about the World Cup and we're still going through a process with them," Mr Gordon said.

"But we wouldn't get into a securitisation environment if we weren't certain of our revenues from the Rugby World Cup 2003.

"We wouldn't be doing anything along those lines until we do have certainties about the revenue outcomes in 2003."

With a three billion-strong television audience, the 1999 rugby World Cup produced a $162 million net profit. (AAP)