Oct 17, V7N- Cricket Australia (CA) announced a net deficit of A$31.9 million ($21.34 million) for the 2023-24 financial year, a result that exceeded expectations at a low point in the sport’s four-year financial cycle. However, the governing body anticipates a significant boost in revenue over the next 18 months, with a highly anticipated home series against India and an Ashes series lined up.

Chief Executive Nick Hockley credited the better-than-forecast results to effective cost management and revenue generation across Australian cricket. Higher-than-expected attendance at home games against Pakistan and the West Indies added A$7 million in revenue, while contributions from the ICC, the Indian Premier League, and the Indian tax office provided an additional A$11 million. This allowed CA to increase player payments by 7% under the new pay deal.

Grassroots cricket also saw growth, with registered participation rising from 627,793 to 661,161. However, there was a slight 3% decline in the number of junior cricketers. Hockley attributed the participation growth to targeted programs aimed at engaging children aged 5-12, women, girls, and players from South Asian communities.

($1 = 1.4948 Australian dollars)

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