The impact of the Covid19 pandemic on the sporting landscape has been highlighted once again as Cricket Ireland‘s projection that their turnover will shrink by a “minimum” 25%, or roughly US$ 2.7 million, in 2020.
CEO Warren Deutrom, in an interview with the Irish Examiner, revealed the figure. Cricket Ireland clocked US$10 Million annual revenue figure for the first time in its existence last financial year but that will be shaved off minimum 25% in the current financial year according to Deutrom.
“If you go back ten years ago our turnover would have been nothing more really than one or two million,” said Deutrom. “We were due to hit ten million or so this year, and we were at ten million last year, but we are certainly going to shrink by, we estimate, 25% this year.”
The pandemic has already wiped series against Zimbabwe and Bangladesh from the men’s calendar while the women’s side had a tour to Thailand cancelled this month as well. As things stand, Ireland’s men are due to face New Zealand in June and Pakistan in July. The New Zealand CEO has already gone on record by declaring that their European trip is unlikely to happen. Deutrom feels, Pakistan tour in July is also 50-50 at this stage and all this will impact revenues in a big way.
Cricket Ireland has already announced 20 to 25% pay cuts for the staff members. Contracted players will not be affected as they have already forfeited match fees and are likely to do so again as doubts hang over other upcoming events.
Under the circumstances, like for some of the other cricket boards, annual grants from the International Cricket Council (ICC) will be of prime importance. ICC is due to release the second tranche of annual funding for the members. Ireland Cricket CEO also believes in the current circumstances T20 World Cup in Australia is of prime importance for countries that are dependent on ICC annual grants.
“There is six months to go before that is due to start and everyone has their fingers crossed in terms of whether that will or will not be affected,” said Deutrom. “ I know there has been some speculation around that but the view the game itself is taking is that it is too early to call.”
John Stephenson
john@cricketinvestor.co.uk
