Former ARU chairman Peter McGrath says he withdrew from a three-way battle because he didn't want the role to be politicised as rumours swirled of a potential shake-up.

McGrath, Brown and John Gillespie were poised to put their cases forward at the AGM this week after accepting nominations to replace Geoff Larkham.

But it's understood Gillespie is likely to also withdraw, leaving Brown as the only standing candidate, to be elected to the position unopposed.

The Brumbies will announce a record loss at the meeting, expected to be more than $1.6 million to put a further dent in the club's cash reserves.

The Brumbies have used most of the money from the $11.37 million sale of their Griffith headquarters and there is an ongoing ACT Policing investigation into a series of transactions between 2009-2013.

The club invested $5 million in its new University of Canberra base and is projecting a $2.5 million turnaround next year to turn a profit for the first time since 2010.

The turnaround will be boosted by a massive injection from the new Super Rugby television rights deal, which could give Australian clubs up to at least $3 million per season.

The ACT Rugby Union board will finalises its finances at the AGM, elect a new president and appoint two new directors.

It's understood the board will then implement governance changes to create a nominations process for director positions, as well as using a skills matrix for positions.

The Brumbies have been fighting hard to get the club on stable ground and chief executive Michael Jones secured a six-year major sponsor deal worth more than $8 million.

McGrath was in contention to return to the Brumbies for the first time in a decade, but withdrew at the end of last week.

"I didn't want the role of presidency to be politicised," McGrath said. "I always said I wouldn't stand in a public election. People weren't prepared to make a choice so I made a choice [to withdraw]. Bob Brown is a friend of mine for 40 years and I'm not going to stand against him.

"I didn't think it was the appropriate thing to do to have an election for the role."

The Brumbies board will have two nominated positions available, but officials are set to delay naming new people to instead work on constitutional changes.

The changes would see the nomination process extended to give members of the ACTRU a chance to evaluate candidates.

Chairman Robert Kennedy called for unity among the rugby ranks when he was elected to the board last year, after Sean Hammond was unexpectedly ousted.

There have been murmurs of dissatisfaction and unrest among certain factions of the rugby community.

It is hoped Brigadier Brown will be able to ease any lingering tension and help the organisation move into the future.

The Brumbies are working to increase membership and avoid any division through professional and community ranks, as well as creating greater collaboration.

There are five nominees standing for election to director positions, with incumbents Gillespie and Carmel McGregor up for re-election.

Hammond said before the AGM last year that two more years of losses of $1 million would exhaust the cash reserves left from the sale of Griffith.

But the Brumbies are confident they can achieve a major financial turnaround next year to ease the strain, with the new SANZAR – Super Rugby's governing body – television rights deal set to inject more than $40 million into the game.