The Brumbies will report a financial loss at the annual general meeting this week and it can be revealed legal fees for a court battle against former chief executive Michael Jones and an eventual payout are the major contributors.

The Brumbies board and Jones went to court last year in a dispute over his tenure before the parties eventually agreed to payout.

The Brumbies will detail their finances at a meeting on Wednesday, with three candidates standing for board positions.

Chairman Robert Kennedy is standing for re-election while former interim chief executive Phil Thomson is also set to join the board of directors.

Former Brumbies and Wallabies hardman Pat McCabe has already been appointed to a position on the board as the players' representative.

The Brumbies' financial position will be put under the microscope as Australian rugby fights to find stable ground and the ARU contemplates axing one of its teams from Super Rugby.

The ARU has previously offered major financial help to the Melbourne Rebels and the Western Force, but have told the Brumbies they will not be able to offer assistance.

The Brumbies sold their headquarters at Griffith four years ago and it was hoped the $11.375 million would set the club up for the future.

However, the proceeds have almost dwindled away after a $1.68 million deficit in 2015 and recording a profit just three times since 2003.

It's understood the Brumbies have enough cash reserves to cover the financial loss but the club is aware it needs to turn around its financial fortunes to remain viable.

The Brumbies have landed a sponsorship deal with Plus500 which is believed to be worth $1.5 million for the 2017 Super Rugby season.

Officials hope the deal with the Israel-based company will help it achieve an elusive profit.

Phil Thomson stepped into the chief executive role when Jones left the organisation in May last year.

Thomson, a former ARU integrity manager, helped the Brumbies slash costs to avoid another $1million deficit this year before Michael Thomson was appointed as the club's new boss.

The Brumbies are aware another major financial loss could cripple the organisation at a time when the ARU is investigating its options to potentially reduce the number of Australian teams.

Super Rugby bosses and ARU officials will meet in the coming months to discuss the possibility of changing the competition format.

"I don't think we can take our eye off the ball, there are no guarantees," Phil Thomson said on ABC radio.

"We have to prove we are viable financially and we can stand on our own two feet. The ARU aren't in a position to bail any more Super Rugby teams out. They've might it quite clear we have to stand on our own two feet."

Brumbies stakeholders voted last year to change the club's constitution as well as abolishing the chief executive's position on the board and limiting directors to a term of six years.

A board nominations committee was set up for candidates to apply, with three director positions available for the three candidates who will front the meeting on Wednesday.

The Brumbies are also working to appoint a successor to coach Stephen Larkham, with applicants expected to be interviewed in the coming weeks.

"I won't be a part of the interview process and hopefully within a month we've got a fairly good idea for where we're going next year," Larkham said.