• Wednesday, Nov 25, 2020
  • Last Update : 10:00 pm

Cricket Australia braces for $85m revenue loss

  • Published at 05:59 pm October 29th, 2020
Australia

CA saved around A$40m during the pandemic through a range of cost-cutting measures including the axing of 40 jobs

Cricket Australia said Thursday it posted a A$45.9m (25m pounds) deficit in the last financial year and could see a A$120m ($85.55m) dip its projected revenue for the 2021 period due to the impact of the Covid-19 pandemic.

CA, which saved around A$40m during the pandemic through a range of cost-cutting measures including the axing of 40 jobs, said the deficit for the year ending June 30 was in line with budgetary expectations.

Australia was scheduled to host the World T20I this year but the event was postponed to 2022 because of the pandemic.

The projected drop in revenue for the next financial year also factored in the bio-security costs and loss of revenue from crowd restrictions for the upcoming India series.

India will arrive next month to play six short-form internationals followed by four tests in a blockbuster tour worth about A$300m to CA.

Interim chief executive Nick Hockley said cricket had overcome a series of setbacks over the last year and CA hoped for better times ahead.

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