Cricket Australia (CA) recorded a $16.9 million loss for the 2022-23 fiscal year. That the losses would have been even steeper had Australia not been host country for the ICC Twenty20 World Cup last year is just one more indicator of the financial challenges facing all cricket boards in the world barring the BCCI.
The men’s Twenty20 World Cup tournament – won by England in the final at the MCG last November – helped increase CA revenue by 9% to $427m.
The $16.9m loss is the third-highest in the past decade, trailing 2016-17’s $52m and $43m in 2019-20, The Guardian reports.
CA said the loss was driven by an “expected low point in the revenue cycle” given it was a non-Ashes year, although the game set a new attendance record last summer. CA’s annual report said 2.4 million people attended cricket matches in Australia over the year to June, setting a new record.
The international calendar is being squeezed by domestic T20 competitions in India, North America, the Middle East and Africa, challenging even the “healthier” boards like CA (the England and Wales Cricket Board can also be included in this bracket).
The CA chair, Mike Baird, on Thursday flagged there may be more economic headwinds in the future. Speaking on the developments, Baird said: “Cricket has reached an important moment with the continued emergence of franchise cricket creating both significant challenges and enormous opportunities as interest in our sport grows. As a global leader, we believe CA is well placed to play a strong role in shaping the future of cricket including fulfilling our commitment to the primacy of Test cricket and maximising the benefits of our status as an Olympic sport to broaden the game’s horizons.”
The International Olympic Committee announced this month cricket would become an Olympic sport at the 2028 Los Angeles Games.
On a positive note, Baird said: “During what was our highest attended summer on record, we hosted a successful T20 World Cup and made strategic investments in the Big Bash Leagues and kids participation that will benefit the game for years to come.”
The overall profit of the T20 World Cup was listed at $42.5m, and “helped offset the reduction in media rights and match income in a non-Ashes year, an increase in player payments strategic investment investment in the BBL and higher travel costs post-Covid-19”, the annual report stated.
CA stated in a release, “The upside in the T20 World Cup performance has driven an increase in the player revenue share and a sharing of upside with the States and Territories, with funding at an all-time high level increasing by $7m to $120m.”
It further added, “Total expenses excluding player payments increased by 5% reflecting full delivery of programs, higher travel costs post Covid, and investments in the Big Bash League and the new grassroots cricket system.”
Nick Hockley, Cricket Australia CEO, added, “The completion of media rights agreements with the Foxtel Group, Seven West Media and Disney Star gives Australian Cricket unparalleled coverage and reach, whilst the negotiating of a new player MoU which caters for changing dynamics in the global game also provides confidence and certainty across Australian Cricket.”
