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Profit downturn presents challenges for Cricket Australia

Profit downturn presents challenges for Cricket Australia
October 27, 2016

The importance of Cricket Australia's forthcoming negotiations for new broadcast deals, both at home and in the lucrative Asian market, have been underlined by the sport having posted a significant fall in profits for the 2015/16 financial year.

After posting an $98 million surplus for 2014/15, and a more modest $9 million for 2015/16, Cricket Australia is projecting a $68 million loss in the current financial year.

However, the sport has strengthened up its asset base by nearly $100 million while its cash reserves have risen by nearly $118 million – to $198.86 million from $80.9 million.

Cricket Australia’s surplus in 2014/15 was a one-off fuelled by Australia co-hosting the Cricket World Cup with New Zealand which boosted income by an extra $51 million.

With a well-established four-year revenue cycle to factor in the fluctuations created by inbound summer visitors – with Ashes and India tours bankrolling all others - the sharp change from one year to another present challenges for the sport.

Cricket Australia hinted that this year’s drop in profits could also be attributed to reduced international media rights revenue in the current year with tours by Pakistan and South Africa less popular than other sides.

Negotiations are yet to begin for domestic broadcast and digital rights which will begin for the 2017/18 season, with a major boost in revenue expected from the Twenty20 Big Bash League.

Overall revenues are also slightly down to $339.8 million from $380.8 million in the previous year while incoming cash flows from paying spectators, media, sponsors and customers increased to $512.26 million from $320.19 million

Commenting on the body’s finances, Cricket Austalia Chairman David Peever admitted he would like to see a less "lumpy" set of numbers.

Peever explained “(we) have to accept the fact that we're dealing with a reality in terms of the lumpiness of the revenue flow.

“At this stage, it's a fact of life, but I think we would certainly prefer that we didn't have such large fluctuations.

“But, knowing we have them means we have to plan over the four-year cycle and deal with it."

Five of the six state associations had recorded profits but Cricket Australia had ever-so-slightly increased the amount given to each state association to $106.26 million from $106 million the previous year.

More than 1.7 million people attended international cricket, the Big Bash League and the Women’s Big Bash League during 2015-16, making it the country’s most attended cricket season on record.

Participation in the game from a grassroots level upwards increased by 8.5% from 2014/15, with a record 1,311,184 participating around the nation last year.

Female participation in cricket also reached new record levels in 2015/16, growing nine% to 314,936, representing 24% of all participants in the sport.

Click here to read Cricket Australia’s financial report.

Top image: Twenty20 cricket at ANZ Stadium

17th October 2016 - CRICKET AUSTRALIA TO STAGE STANDALONE WOMEN’S WORLD T20 TOURNAMENT

13th July 2016 - CRICKET AUSTRALIA ANNOUNCES $4 MILLION BACKING FOR GRASSROOTS WOMEN’S CRICKET

9th May 2016 - BIG BASH LEAGUE ENJOYS TOP SPORT VIEWING RATINGS

20th February 2015 - EIGHT TEAMS ANNOUNCED FOR CRICKET AUSTRALIA WOMEN’S BIG BASH LEAGUE

31st March 2015 - MASSIVE CROWD NUMBERS FOR CRICKET WORLD CUP

11th February 2015 - AUSTRALIA AND NEW ZEALAND CONFIRMED AS HOSTS FOR 2020 WORLD TWENTY20

16th September 2014 - CRICKET ATTRACTS MORE THAN A MILLION PARTICIPANTS


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