Cricket Australia Financial Results – ICC T20 World CUP: The T20 World Cup in Australia starts on October 16th and the organizers gave a bad news to cricket fraternity in Australia. First Cricket Australia (CA) has reported loses in their financial results of 2021/22. Secondly the team jersey sponsor of Australia Cricket team Alinta Energy has decided not to renew the deal with the cricket body: Follow ICC T20 WC LIVE Updates & India in T20 WC Updates with InsideSport.IN
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Cricket Australia Financial Results: Just ahead of hosting ICC T20 World CUP, Cricket Australia reports loses, TITLE Sponsor Alinta says ‘NO to RENEWAL’
Financial Loses Cricket Australia: The Australian cricket body has reported a AUS$5.1 million (US$3.2 million) loss for the 2021/22 financial year. The reason for the loses is attributed to the increased costs from the Covid-19 pandemic and the challenges of negotiating a new UK broadcast partnership.
The worrying financial results come despite a successful season on the field results for the Australian Cricket. The men’s team won a home Ashes series and the delayed Twenty20 World Cup.
The women’s national team achieved similar success, winning a home Ashes series, as well as the one-day international (ODI) World Cup and the gold medal at the Birmingham 2022 Commonwealth Games.
Cricket Australia Financial Troubles
- The figures released at CA’s recent annual general meeting also revealed an US$8.9 million year-on-year (YoY) decrease in total revenue.
- The total revenue figures for the year were mapped at US$243.2 million
- The Australian cricket body has reported a net AUS$5.1 million (US$3.2 million) loss for the 2021/22 financial year.
- The loses according to the governing body are caused by a drop in its international media rights income.
- CA also said its financial results also benefited from a decrease in biosecurity costs compared to last year.
While there is no doubt these conditions have created financial pressure”, said CA chair, Lachlan Henderson.
“We acknowledge that this is a time of considerable change for cricket with the emergence of different formats and competitions across the world as well as new commercial and partnership opportunities. As an organisation we will confidently embrace the future while ensuring all our decisions benefit everyone from our elite players through to grassroots participants and volunteers.”
Cricket Australia loses TITLE Sponsor, Alinta Energy refuse to RENEW deal with the Australian Cricket
Meanwhile, the financial troubles for Cricket Australia doesn’t end with loses last financial year. Cricket Australia Commercial team has confirmed that the current title sponsor for the team Alinta Energy has decided not to renew the partnership going forward.
Nick Thodey, senior commercial manager at CA, told SportBusiness that Alinta had achieved its goals with the partnership and that his team is in market to find a new deal.
Alinta Energy, which signed a deal in 2018 covering primary sponsorship in all formats wa reportedly paying US$4 million per year to Cricket Australaia.
“[Alinta was] traditionally a Western Australian energy brand that had about 70 per cent awareness on the West Coast around Perth and really wanted to use cricket to grow their awareness on the East Coast,” Thodey said. “At that time, they had very low levels of awareness and it’s grown up to between 35 to 40 per cent of cricket fans, who are now aware of them as a brand, so the salience has been hugely successful for them.”
Meanwhile the commercial team of Australian board is confident they will soon sign a new title sponsor for their national team.
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