Fri Oct 18 06:42:14 UTC 2024: ## Cricket Australia Sees Financial Recovery Despite Deficit
Cricket Australia (CA) has announced a net deficit of A$31.9 million ($21.34m) for the 2023-24 financial year, despite this being a positive result considering the challenging four-year cycle. The deficit was lower than expected, attributed to strong cost management and revenue generation across Australian cricket.
The positive financial performance was driven by several factors, including:
* **Higher than expected crowd turnout:** Last season’s home internationals against Pakistan and West Indies attracted more fans than anticipated, generating an additional A$7 million.
* **Increased funding from ICC, IPL, and Indian tax office:** CA received A$11 million more than expected from these sources.
* **Increased player payments:** The strong financial performance allowed CA to fund a 7% increase in player payments in the first year of the new pay deal.
Furthermore, CA reported a significant rise in registered participation in community cricket, reaching 661,161 participants. This growth was attributed to targeted programs aimed at increasing participation among 5-12 year-olds, women and girls, and players of South Asian heritage.
Despite the positive financial indicators, CA expects a significant boost to revenue in the next 18 months due to a lucrative five-Test home series against India starting in November and an Ashes series on home soil next year.
First Piper 