ECB Chiefs Blame COVID-19 For 16.1 Million Pound Annual Loss | Cricket Newsnewstolive - May 11, 2021 40 0 COMMENTS
ECB income fell by 21 million kilos to 207 million kilos.© Twitter
The England and Wales Cricket Board (ECB) reported an annual lack of 16.1 million kilos ($22.eight million) on Tuesday, saying the coronavirus pandemic had whittled down money reserves to only 2.2 million kilos. In 2016, the ECB introduced it had reserves of greater than 70 million kilos. But the start-up prices related to the Hundred, the ECB’s new 100 balls-per-side competitors, helped scale back that determine to about 11 million kilos by 2019 — earlier than the pandemic took maintain. The Hundred is because of make its debut in 2021 after a yr’s delay due to Covid-19.
The ECB stated income losses throughout English cricket as a complete, after a yr of enjoying matches behind closed doorways, amounted to greater than 100 million kilos.
But that’s a way wanting the worst-case state of affairs. The ECB feared it might lose 380 million kilos had your complete 2020 season been worn out however a full worldwide programme went forward in a bio-secure bubble.
“This has been a challenging year,” stated Scott Smith, chief monetary officer on the ECB.
“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 stays appreciable uncertainty over the yr forward, however we hope that delivering one other full summer season of cricket — and with crowds starting to return from subsequent week — we’re in a position to shield the income we have to put money into rising our sport.”
ECB income fell by 21 million kilos to 207 million kilos. The monetary assertion stated the delay to the Hundred and prices of staging bio-secure cricket had contributed to the decline.
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