Cricket Australia Posts Staggering $11.3m Loss Despite Blockbuster India Test Series

Cricket Australia has announced a loss of A$11.3 million for the current financial year on Thursday. Despite hosting India in the Border-Gavaskar Trophy, which ended 3-1 in favour of the hosts, CA failed to cut down their losses.

Cricket Australia Posts Record Loss In Current Financial Year

At its Annual General Meeting, CA stated there is an increase of almost A$50 million in the revenue, up from A$453.7 million. The boost in revenue is generally powered by the new domestic broadcast contract and the Border Gavaskar Trophy, in which Rohit Sharma and Virat Kohli were present.

The financial figure has attracted criticism from Cricket Victoria chair Ross Hepburn, as he pointed out that despite significant reviews and cost cutting Cricket Australia failed to capitalise on it. "It is disappointing that for yet another year CA is presenting a financial loss, with a balance sheet showing member funds in deficit," Hepburn said.

"It is especially disappointing that since FY2019, CA accounts have shown a significant cumulative loss excluding COVID-related impacts and World Cup revenue.

“Despite significant and costly reviews, little financial improvement seems to have yet materialised on the commercial front with sponsorship revenues in decline.”

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More Revenue In The Offing For Australia

As per the official figure, a A$24.1 million increase in expense has also been mentioned. India didn't play any white ball matches during the Australia tour, but the number of Test matches was increased from four to five. Australia are currently involved in a T20I series, and the numbers are expected to improve in the next cycle.

Cricket Australia is also exploring the possibility of whether to include private partners in the Big Bash League. A blockbuster five-match Ashes series is also on the horizon, so CA could expect more revenue.

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