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Cricket Australia bullish after four-year surplus

Cricket

Former Australian Test captain Mark Taylor has been re-elected to the Cricket Australia board after the sport boasted a surplus in the latest four-year cycle.

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Taylor, alongside directors Jacquie Hay and Tony Harrison, retained their spots on the organisation’s board at today’s AGM in Brisbane, after it was heard CA had turned around a loss in the previous four-year cycle between 2009-10 and 2012-13.

Despite posting a $50 million loss for the 2016-17 season, CA declared a $68 million surplus over the four-year cycle. Finances are recorded in such cycles due to broadcast revenue fluctuations between different touring countries.

“With an operating deficit of $50.8m and net assets declining to $98.6m for the 2016-17 financial year, results were in line with management and budgetary expectations and the four-year, Long Range Plan (LRP),” the organisation said in a statement.

It comes after a difficult year for CA, who have been involved in long drawn-out pay negotiations with players which were only resolved in August – a month after the previous Memorandum of Understanding expired.

But following today’s findings, CA chief executive James Sutherland deemed the cycle a success.

“Under our new MoU with our players, we believe we have the first gender-neutral pay system in Australian sport and all our women, both international and domestic, can turn their dreams of a sporting life into reality,” Sutherland said.

“In the war for sporting talent, it is not just pay that captures the attention – young sportspeople must believe that they will be provided with the right support and opportunities to make the most of their talent.”

CA also trumpeted increased participation, attendance highlights and the popularity of the Big Bash and WBBL as part of the successes of their last cycle.

-AAP

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