CA suffers loss despite hosting the T20 World Cup

On Thursday, Cricket Australia revealed that, despite making USD 42.5 million from hosting the 2022 T20 World Cup, it had lost USD 16.9 million for the fiscal year 2022–2023.

The cricket board had anticipated a defeat because it was a “non-Ashes year,” despite the matches breaking attendance records last year with sold-out crowds of 53,866 for the BBL final between the Perth Scorchers and Brisbane Heat at Perth Stadium and 92,000 spectators for the match between India and Pakistan at the MCG.

The board recently inked a new seven-year agreement with Disney Star for the right to broadcast Australian cricket in India, as well as a USD 1.512 billion seven-year media rights deal with Foxtel Group and Seven West Media to broadcast cricket in Australia from 2024 to 2031.

In addition to drawing more people to the stadium than before the COVID-19 outbreak, the BBL averaged 532,000 viewers per game, making it the most-viewed sports league in Australia.

The Australian women’s team won the Commonwealth gold medal and the 50-over World Cup during this time. With the signing of a five-year Memorandum of Understanding, their revenue share jumped from USD 80 million to USD 133 million.

Through the Woolworths Cricket Blast, more than 25,000 girls between the ages of 5 and 12 registered to play cricket, representing a 24% increase in participation from 56,464 to 69,879. Overall, community cricket participation increased from 598,931 to 627,693, almost matching pre-COVID levels.

According to a release from Cricket Australia, “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.”

They went on to say, “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.”

“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,” said Mike Baird, chair of Cricket Australia, in response to the development.

“As interest in our sport rises, franchise cricket is posing both big obstacles and enormous opportunities, marking a pivotal period in the history of cricket. As a world leader, we think CA is in a good position to influence how cricket develops in the future. This includes upholding our belief that Test cricket should come first and making the most of our Olympic status to expand the game’s appeal.”

The CEO of Cricket Australia, Nick Hockley, continued, “Australian Cricket now has unprecedented coverage and reach thanks to the completion of media rights agreements with Foxtel Group, Seven West Media, and Disney Star. Additionally, the negotiation of a new player MOU that takes into account the evolving nature of the international game gives Australian Cricket confidence and certainty.”

“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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