Cricket Australia posts A$11.3 million deficit for 2024–25 despite revenue gains

Post by : Mara Rahim

Cricket Australia has disclosed a net shortfall of A$11.3 million for the 2024–25 financial year, revealed at its annual general meeting. The loss comes even as the governing body recorded higher receipts, driven largely by the high-profile Border-Gavaskar Trophy fixtures against India.

Total revenue climbed by A$49.2 million year-on-year, reaching A$453.7 million. CA attributed the increase to a new domestic media rights deal and the commercial success of the five-Test India series, which boosted broadcast income and match-day takings.

Officials described the India fixtures as one of the standout commercial performers of the year, attracting strong crowds and extensive international viewing figures. Nonetheless, those gains were insufficient to counteract the surge in operating costs.

Expenses rose by A$24.1 million in 2024–25. CA said the largest contributors were marketing outlays connected to the India tour and the added costs of supporting roughly 70 extra days of international travel for both the men’s and women’s national teams, increasing accommodation and logistics spending.

The mismatch between higher turnover and rising costs produced the reported deficit, prompting scrutiny of CA’s financial planning and sustainability over the medium term.

Member bodies expressed disappointment that distributions to state and territory associations barely budged. Payments to states increased by only A$800,000, from A$120.1 million last year to A$120.9 million this year, a modest rise relative to the group’s overall revenue growth.

Cricket Victoria was particularly critical of the results. CV chairman Ross Hepburn said the board’s stewardship had not produced the improvements many expected and warned that member funds remain under pressure, with the balance sheet still showing a deficit position.

Hepburn also noted that, excluding one-off events such as COVID-related support and World Cup income, CA has reported cumulative shortfalls since the 2018–19 year, a trend that continues to concern some state stakeholders.

On the eve of a busy international season, CA executives signalled confidence in a turnaround. Chief Executive Todd Greenberg pointed to the 2025–26 Ashes series, which begins on November 21 in Perth, as a major revenue opportunity that should help restore financial momentum.

Chief Financial Officer Sarah Pragnell forecast a significant uplift in commercial and sponsorship earnings, projecting growth from A$69 million to A$86 million for the coming year. She said the Ashes, coupled with white-ball fixtures featuring India in FY26, are expected to generate meaningful profits and help rebuild cash reserves.

As part of its revenue strategy, CA is evaluating options to permit private investment into Big Bash League franchises to unlock additional commercial value and strengthen the BBL’s standing against global T20 competitions such as the IPL.

That initiative is likely to face internal debate: any move to allow external ownership or equity in BBL teams would require member-state approval. Cricket Victoria’s Hepburn urged caution, arguing that selling stakes in member assets should only be considered after other alternatives have been exhausted.

Despite the current deficit, CA senior management says the organisation is on a stable footing and positioned to recover. Leadership emphasised plans to bolster commercial partnerships, refine match operations and capitalise on marquee series to rebuild net assets.

The next 12 months will be pivotal for Cricket Australia as it seeks to rein in escalating operational costs while maximising income from major events. The success of the Ashes and other commercial initiatives will be central to the pace at which CA can restore its financial health.