ECB blame lack of £16.1 million on coronavirus pandemic, insist early motion helped keep away from ‘far worse state of affairs’
London: The England and Wales Cricket Board (ECB) reported an annual lack of £16.1 million ($22.8 million) on Tuesday, saying the coronavirus pandemic had whittled down money reserves to only £2.2 million.
In 2016, the ECB introduced it had reserves of greater than £70 million).
However the start-up prices related to the Hundred, the ECB’s new 100 balls-per-side competitors, helped scale back that determine to about £11 million by 2019 — earlier than the pandemic took maintain.
The Hundred is because of make its debut in 2021 after a yr’s delay due to Covid-19.
The ECB stated income losses throughout English cricket as an entire, after a yr of taking part in matches behind closed doorways, amounted to greater than £100 million.
However that’s a way wanting the worst-case state of affairs. The ECB feared it may lose £380 million had the whole 2020 season been worn out however a full worldwide programme went forward in a bio-secure bubble.
“This has been a difficult yr,” stated Scott Smith, chief monetary officer on the ECB.
“However by having the ability to stage worldwide cricket and by taking decisive motion early within the pandemic, we now have been in a position to help the community and keep away from a far worse monetary state of affairs.
“There stays appreciable uncertainty over the yr forward, however we hope that delivering one other full summer time of cricket — and with crowds starting to return from subsequent week — we’re in a position to defend the income we have to put money into rising our sport.”
ECB income fell by £21 million to £207 million. The monetary assertion stated the delay to the Hundred and prices of staging bio-secure cricket had contributed to the decline.
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