Despite earning USD 42.5 million from hosting the 2022 T20 World Cup, Cricket Australia reported a loss of USD 16.9 million for the fiscal year 2022-23 on Thursday.
The cricket board expected a loss because it was a “non-Ashes year” even though last year’s matches set a new attendance record, including 92,000 spectators for the match between India and Pakistan at the MCG and a sold-out crowd of 53,866 for the BBL final between the Perth Scorchers and Brisbane Heat at Perth Stadium.
In addition, the board signed a USD 1.512 billion, seven-year media rights contract with the Foxtel Group and Seven West Media to broadcast cricket in Australia from 2024 to 2031, as well as a new seven-year deal with Disney Star for the right to broadcast Australian cricket in India.
In addition to the return of audiences to the stadium following the COVID-19 pandemic, the BBL was once again the most-watched sports league in Australia on linear TV, with an average of 532,000 viewers per game.
During this time frame, the Australian women’s cricket team won both the 50-over World Cup and the Commonwealth gold medal. A five-year MOU was signed that increased their revenue share from USD 80 million to USD 133 million.
Participation in Woolworths Cricket Blast increased by 24% from 56,464 to 69,879, with over 25,000 females aged 5 to 12 registering to play cricket. Overall, community cricket participation attained near-record pre-CoVID levels, with the number of participants increasing from 598,931 to 627,033.
According to a release from Cricket Australia, “The upside in the T20 World Cup performance has driven an increase in the player revenue share and a sharing of upside with the States and Territories, with funding at an all-time high level increasing by $7m to $120m.”
They additionally stated, “Total expenses excluding player payments increased by 5% reflecting full delivery of programs, higher travel costs post Covid, and investments in the Big Bash League and the new grassroots cricket system.”
Cricket Australia chair Mike Baird commented on the development, stating, “”This has been a year of great achievement for Australian cricket, with the completion of the media rights deal, the MOU, and other significant initiatives putting the game on a strong footing, while our national teams performed brilliantly on the international stage.”
“Cricket has reached an important moment with the continued emergence of franchise cricket creating both significant challenges and enormous opportunities as interest in our sport grows. As a global leader, we believe CA is well placed to play a strong role in shaping the future of cricket including fulfilling our commitment to the primacy of Test cricket and maximising the benefits of our status as an Olympic sport to broaden the game’s horizons.”
Nick Hockley, CEO of Cricket Australia, added, “The completion of media rights agreements with the Foxtel Group, Seven West Media, and Disney Star gives Australian Cricket unrivaled coverage and reach, whilst the negotiation of a new player MOU that caters for changing dynamics in the global game provides confidence and certainty across Australian Cricket.
“During what was our highest attended summer on record, we hosted a successful T20 World Cup and made strategic investments in the Big Bash Leagues and kids participation that will benefit the game for years to come.”
