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Cricket Australia Announce AUD 11.3 million Loss for 2024-25 Financial Year
Follow UsDespite last season’s Border-Gavaskar Trophy, Cricket Australia announced a steep loss
Cricket Australia (CA), on October 30 (Thursday), announced that they have suffered a huge AUD 11.3 million loss for the financial year 2024-25. CA’s chief executive, Todd Greenberg, and CA chair Mike Baird announced the loss to the stakeholders in the annual general meeting at their Melbourne headquarters.
The loss was despite Australia hosting India in a high-profile five-match Test series during the summer, where the hosts won the series 3-1, with the duo stating that the loss was a long forecast.
However, both Greenberg and Baird insisted that CA would turn their fortunes around and see profits for the 2025-26 season, on the back of India’s white-ball series and the much-awaited Ashes Down Under.
As per ESPNCricinfo’s reports, “CA also announced it would no longer fund Indoor Cricket national teams and domestic championships,” which comes as one of the cost-cutting activities.
"It's a big part of our decisions," Greenberg told reporters on Thursday. "There's no secret that every sports league in the world has one significant thing in common, they have the best players playing in those leagues. And so the moment we take for granted that our Australian players will play in our leagues or play for their teams is at our peril.
"We can't stand still. We've got to keep an eye on what's happening. Of course, we want to protect everything that's sacrosanct about what's been great about Australian cricket over generations, but we've got to have an eye to the future.”
Unlike other franchise cricket around the world, the Big Bash League (BBL) is not completely a franchise-based system, given that CA still has its control over it. In a case where it is owned by private organisations, there stands a risk that CA could lose some of its top players to a private contract.
"It's the challenge that sits right in front of us," Greenberg said. "We've got to continue to make opportunities for them to be inside the Australian team environment...and I can tell you that they all want to be there. They all want to win competitions. They all want to compete for the Ashes. They want to win a World Cup," he added.