The overall concept is good - here's a few ideas to consider...

1. Consider a different type face for the "R" above the diagonal color bands to aid the readability.

2. Just a bit more "breathing space" between the diagonal color bands and the word "rugby" at the bottom may help readability if you ever need to print the logo in a small size.

3. Consider dropping out a chunk of the oval behind the "R" and "U" in rugby - most folks won't even know its missing - and again, it could aid the readability.

4. Like others, I prefer the brighter red.

I'm not a prefessional graphic designer - but I do play one on TV.