Cricket Australia Prepares For $120 Million Financial Hit
ricket Australia (CA) has announced they have suffered a net deficit of $45.9 million for the full financial year ending June 30, 2020.
The governing body said the results were in line with its expectations and the four-year cycle projections driven by its tour schedules.
Cricket Australia chairman, Earl Eddings, said an estimated financial hit of $120m in revenue could be felt this financial year in terms of lost revenue and additional costs.
“It’s still a bit unclear, we have got COVID biosecurity costs built into that estimate, hopefully after Christmas that might ease off which may make not quite as big impact, it takes into account crowd losses and revenue from our crowds and also remember we had a delayed T20 World Cup, which has been put back to 2022,” Eddings said.
“There is no doubt this year has been difficult on a number of fronts across Australian Cricket and we have had to work together to navigate our way forward.
“The decisions at times have been difficult however critical to ensuring our ongoing financial sustainability,” he said.
Cricket Australia director, Paul Green, said: “on current estimates, these factors could have a financial cost to cricket of up to $120m in FY21.”
In other news, CA has also announced 25,000 fans will be allowed to attend the Boxing Day Test at the Melbourne Cricket Ground (MCG) against India, with CA working to develop a COVID-19 sale plan.
The Indian squad is scheduled to arrive in Australia on November 12 and will quarantine in Sydney prior to the first match, a three-match Dettol ODI series at the Sydney Cricket Ground, starting on November 27.
The first of the four Test matches will begin at Adelaide Oval on December 17, followed by Tests at the Melbourne Cricket Ground on December 26, the Sydney Cricket Ground on January 7 and the Gabba on January 15.
The announcement of the fixtures should help pacify CA’s broadcast partners, who have frequently voiced their frustration at the lack of a confirmed schedule.
Cricket Australia interim chief executive officer, Nick Hockley, said he was thankful for the support and trust the Board of Control for Cricket in India (BCCI) had put into the plan that was developed for a safe summer of cricket.
“I would like to express my gratitude to everyone at the BCCI for the faith and support they have shown in the plan we have developed, which we believe will result in a safe and successful summer for all involved,” Hockley said.