ECB to face 182m pound financial loss
West Indies and Pakistan have been blown away to England by the grand organization. The series talks with Australia are also almost final.
However, the England and Wales Cricket Board (ECB) is not immune from the huge financial losses. They expect the board’s potential revenue to remain at a deficit of up to 182m pound.
ECB met on Wednesday with 18 county teams and county boards to present a picture of potential revenue in the coronavirus situation. That’s where the idea came from, according to The Guardian.
The ECB expects a deficit of at least 106m pound this fiscal year, despite the highest possible returns.
If there had been no games this English summer due to the coronavirus, the board would have had a revenue deficit of up to 400m pound. That is why the series against West Indies has been organized with a lot of risk, the series against Pakistan has started. Australia may also visit there next month.
Probably a factor as to why they’re doing so poorly. Blowing up teams on a chartered flight, keeping it longer, creating and maintaining a ‘sterile’ environment at venues for longer periods of time have resulted in much higher costs than usual.
But since the spectators are not allowed to enter the field, the income is not coming from ticket sales. Income from sponsorship has decreased at a significant rate. No such sponsors were found for the current Pakistan series. Income from TV rights will also be less than the contract amount. The ECB was aiming for big revenue from 100-ball cricket ‘The Hundred’. The coronavirus situation has also receded.
ECB grants for county teams, however, continue. The last installment was paid last Saturday. However, the tension in the flow, the idea was given in Wednesday’s meeting.
The ECB is now looking for ways to reduce costs. Before the outbreak of COVID-19 disease, the board has 379 employees. A source told The Guardian that there were plans to reduce the number by 25 per cent.