MX23RW : Friday, June 18 13:18:44| >> :600:3277476:3277476:

ECB reports loss of £16.1m for past financial year

Cricket as a whole in England and Wales has accrued revenue losses of more than £100m.

The England and Wales Cricket Board has reported a loss of £16.1million for the past financial year, with the impact of the coronavirus pandemic helping whittle the organisation's cash reserves down to just £2.2million.

The ECB's financial results for the year ending January 31 make for sobering reading given expectations that the previous annual profit of £6.5m would increase significantly.

In 2016 the ECB reported cash reserves in excess of £70m, but that figure has plummeted sharply over the past five years to its current slender level.

Cricket as a whole in England and Wales has accrued revenue losses of more than £100m, although that outlook is still better than the worst-case scenario had a full men's international programme as well as one women's series not been salvaged in a bio-secure bubble.

Scott Smith, chief financial officer at the ECB, said: "This has been a challenging year, but by being able to stage international cricket and by taking decisive action early in the pandemic, we have been able to support the network and avoid a far worse financial scenario.

"There remains considerable uncertainty over the year ahead, but we hope that delivering another full summer of cricket – and with crowds beginning to return from next week – we are able to protect the revenue we need to invest in growing our game."

ECB revenue fell by £21m to £207m, with the postponed launch of The Hundred and the associated costs of setting up and maintaining the bio-secure international bubbles cited as factors.

The financial statement notes: "This fall in revenue and profit reflects the significant impact that Covid-19 has had on ECB's finances due largely to the postponement of ECB's new competition, The Hundred, until 2021 and the additional costs of creating bio-secure environments to host international cricket in a pandemic environment."

ID:446999: cacheID:446999:1false2false3false:QQ:: from db desktop :LenBod:restore:3108:
Latest coronavirus PSA banner
Restore Data
Share this article now:
Did you know...?
Tymal Mills poses for a portrait during the Sussex County Cricket Photocall at County Ground on April 9, 2015
Read Next:
Tymal Mills: 'Initiatives are more important than taking a knee'

rhs 2.0
Euro 2020 fixtures
Friday, June 18, 2021
Saturday, June 19, 2021
Sunday, June 20, 2021
Monday, June 21, 2021
Todays Game Header Right

Subscribe to our Newsletter

Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!