MELBOURNE:
Cricket Australia (CA) has reported a net loss of A$11.3 million ($7.34 million) for the 2024–25 financial year, despite generating huge revenue from hosting the blockbuster Border-Gavaskar Trophy against India.
At its Annual General Meeting (AGM) on Thursday, CA revealed that total revenue had surged by A$49.2 million to reach A$453.7 million, mainly due to the new domestic media deal and match earnings from the five-Test series against India.
However, rising expenses — up A$24.1 million — offset much of the gains. These included marketing costs for the India tour and funding 70 additional touring days for Australia’s national teams.
Distributions to member states and territories saw minimal growth, increasing by just A$800,000 to A$120.9 million.
Cricket Victoria (CV) strongly criticised the national board, saying CA had failed to improve its financial performance despite multiple costly reviews.
“Once again, CA has presented a financial loss, and the balance sheet continues to show member funds in deficit,”
said CV Chairman Ross Hepburn during the AGM.
“Since FY2019, CA’s accounts have shown consistent cumulative losses — even excluding the impacts of COVID and World Cup revenues.”
CA CEO Todd Greenberg expressed optimism for the 2025–26 financial year, pointing to the upcoming Ashes series against England, beginning November 21 in Perth.
He noted that CA expects commercial and sponsorship revenue to rise sharply from A$69 million to A$86 million.
CA CFO Sarah Pragnell added:
“The Ashes and India’s white-ball matches in FY26 are projected to generate strong profits, helping us rebuild our net assets and cash reserves for the next cycle.”
To boost long-term sustainability, CA is also exploring private investment in Big Bash League (BBL) teams — a move aimed at increasing competitiveness with major global T20 leagues such as the IPL.
However, this plan could face resistance, with CV warning that:
“All alternative options must be explored thoroughly before selling off member assets,” Hepburn emphasised.
