New Zealand Cricket has released its 115th Annual Report today, reporting a surplus of $6.84m after distributions.
New Zealand Cricket operates on a four-year cycle due to variations in revenue over the four-year period arising from ICC events such as the World Cup as well as inbound tour revenue, which varies according to what touring teams are visiting.. Overall for the four years ending 31 May 2010 New Zealand Cricket continues to forecast a surplus result.
“With India touring during the past summer it was a key year for New Zealand Cricket,” said NZC Chief Executive Justin Vaughan. “The Indian tour was a resounding success for the game and was also important for the commercial return it provided to New Zealand Cricket. This tour was a key reason behind our positive financial result and the main reason why we were able to significantly increase our distributions to Associations.
“The year also saw New Zealand Cricket achieve a number of significant milestones. Participation in cricket reached record numbers, with more than 104,000 people playing the game across all levels.
“Public interest in cricket has continued to flourish during the season, with attendances at international matches well ahead of targets and SKY viewer hours at record levels.
“This year we welcomed Dubai-based DEC into the wider cricket family in New Zealand as official team sponsor of the BLACKCAPS, while State Insurance concluded its sponsorship of domestic cricket after a rewarding 10-year partnership.
“On the playing field, it was a particularly successful year for the White Ferns who made the finals of two ICC World Events, finishing runners-up to England in both the Women’s World Cup and World Twenty20.”
Revenues for the year were $55.99m, compared with revenues for the previous year of $32.24m; this reflects the significant impact of the India tour along with increased revenues from ICC events and foreign currency gains.
Expenditure, excluding grants to associations, was $36.37m compared to the previous year of $29.33m. This reflects significantly increased costs of insurance, increased commissions on broadcasting rights and an increased spend on New Zealand A, Emerging Players and Under-19 tours.
Grants to Associations (including domestic player payments) were $12.19m, a 26% increase on the previous year ($9.65m)
During the year New Zealand Cricket changed its balance date from 31 May to 31 July to better reflect the cricket season and provide more time for reviewing and planning prior to the commencement of each new year.
