Despite hosting the T20 World Cup, Cricket Australia reports loss

By Real11 - Oct 26 2023 372 Views

Cricket Australia despite hosting the T20 World Cup reports loss

Cricket Australia reported a loss of USD 16.9 million for the fiscal year 2022-2023 on Thursday despite generating funds worth USD 42.5 million hosting the 2022 T20 World Cup. 

Even as the matches created new attendance record- 92,000 spectators for the match between arch rivals India and Pakistan at the MCG, and a full house- 53,8466 for the Aus T20 League final between Perth and Brisbane at the iconic Perth Stadium, the cricket board had anticipated a loss since it was ‘non-Ashes year’.

The board also penned a USD 1.512 billion seven year media rights deal with the Foxtel Group and the Seven West Media to broadcast cricket across Australia from 2024-31 and a fresh seven year deal with Disney Star for the right to broadcast Australian cricket in India. 

Besides having the crowds return to stadium after a hiatus of almost a year due to the Pandemic, Aus T20 League one again the most watched sports league in the Land Down Under with a per game linear TV basis, and average viewership of 532,000. 

During this span, the Australia Women’s team clinched the 50 over World Cup title as well as the Commonwealth gold medal. Further a five-year Memorandum of Understanding was signed which boosted their share in the revenue from USD 80 million to USD 133 million. 

The Woolworths Cricket Blast participation increased from 56,464 to 69,879, with nearly 25,000 girls between the ages 5 and 12 registered to play cricket. All in all, the participation within community cricket has reached near record pre COVID rates, with the figures increasing from 598,931 to 627,693.  

Cricket Australia issued a statement, "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."

The further stated, “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."

The Cricket Australia chair, Mike Baird said this on the development “This has been a year of high achievement for Australian Cricket with the completion of the media rights deal, the MOU and other significant initiatives putting the game on a strong footing, while our national teams again performed brilliantly on the global stage.

"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."

Cricket Australia CEO, Nick Hockley 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.

"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." 

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