Cricket body’s CEO Tom Harrison warns organisation is ‘not out of the woods yet’.
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- National cricket governing body had previously posted a UK£6.5m profit
- Revenues in latest annual accounts down UK£21m to UK£207m
- Cash reserves fall to UK£2.2m
The England and Wales Cricket Board (ECB) has reported a loss of UK£16.1 million (US$22.6 million) in its annual accounts, with chief executive Tom Harrison warning the continued effects of coronavirus means “we’re not out of the woods yet”.
The ECB’s financial results for the year ending 31st January make for sobering reading, with last year’s UK£6.5 million (US$9.1 million) profit dramatically reversed and the organisation’s cash reserves dwindling to just UK£2.2 million (US$3.1 million) against the backdrop of the pandemic. Just five years ago, at the time of the 2016 results, those reserves stood at UK£73 million (US$102 million).
Prior to the onset of the global health crisis the ECB had expected the past year to be characterised by rising revenues and expanded investment in the…
