Cricket Australia posts A$11.3m deficit amid higher revenues

Cricket Australia (CA) has recorded a net deficit of A$11.3 million for the 2024–25 financial year. The shortfall comes even as total income increased, largely due to the revenue boost from hosting the Border-Gavaskar Trophy against India. The figures were disclosed at CA’s annual general meeting, where the board outlined the year’s income and expenditure.

Total revenue climbed by A$49.2 million year-on-year to A$453.7 million, CA said. Officials attributed much of that growth to a new domestic media-rights deal and the commercial success of the five-Test series versus India, with those fixtures delivering strong broadcast receipts and ticket demand.

While the India tour proved one of the season’s most lucrative events and drew substantial crowds and global audiences, the extra revenue was insufficient to cover rising operating costs.

CA’s outgoings increased by A$24.1 million in 2024–25. The organisation pointed to higher marketing spend for the India tour and the extra costs linked to supporting about 70 additional days of international travel for Australia’s men’s and women’s teams. Those longer tours added significant travel and accommodation bills.

As a result, higher turnover did not prevent an overall loss, prompting questions about CA’s medium-term financial approach after several years of mixed results.

Member states were particularly critical that distributions to state and territory associations barely rose — increasing by just A$800,000 from A$120.1 million to A$120.9 million despite the uptick in total revenue.

Cricket Victoria’s chairman, Ross Hepburn, voiced concern that CA had not delivered meaningful improvement despite expensive internal reviews. He warned the accounts showed member funds remaining in deficit for another year.

Hepburn added that, excluding exceptional items such as COVID impacts and World Cup receipts, CA has suffered cumulative losses since the 2018–19 year.

CA executives, however, are forecasting a stronger 2025–26. Chief Executive Todd Greenberg highlighted the November Ashes series, starting in Perth on November 21, as a major revenue opportunity that should help the organisation’s recovery.

Chief Financial Officer Sarah Pragnell told stakeholders commercial and sponsorship income is expected to rise from about A$69 million to roughly A$86 million next year. She said the Ashes, together with India’s white-ball fixtures in FY26, should produce material profits to rebuild net assets and cash reserves.

Part of CA’s strategy includes exploring private investment in Big Bash League (BBL) franchises to create new commercial value and better compete with global T20 competitions like the IPL.

That proposal faces internal scrutiny and will require member-state approval. Hepburn urged caution, saying all alternatives should be examined before any sale of member assets is considered.

Despite the deficit, CA’s leadership maintains the organisation is on a stable footing and can recover. The priorities for 2025–26 will be bolstering commercial partnerships, streamlining match operations and ensuring the Ashes delivers the anticipated financial uplift.

The next 12 months will be critical for CA as it balances higher operating costs against fresh revenue opportunities. The outcome of major events and commercial plans will be decisive in restoring CA’s financial buffers and returning to profit.