The England and Wales Cricket Board (ECB) has recovered from the Covid-19 pandemic, earning a pre-tax profit of £21.5 million ($26.6 million) for the year ended January 31, 2022.
The financial statements, which were released just one day after Tom Harrison announced his resignation as ECB chief executive in June, demonstrated that the ruling body generated £303 million in revenue last year which is an increase of £96 million over the previous year (2020-21).
The ECB mentioned in the accounts that it entered the monetary year with caution following a 2020 season in which all cricket was played behind closed doors. Last year’s results showed a £16.1m loss as a result of the disruption.
The improved financial numbers were attributed to less Covid-related disruption throughout the year, as well as the unveiling of The Hundred, its new 100-ball competition. The Hundred was scheduled for the 2020 season before being postponed due to the pandemic.
The organisation said, “The ECB were able to deliver a near-full schedule of international cricket in front of near full crowds, with only the fifth men’s LV=Insurance Test Match against India being postponed for COVID-19 related reasons.
“The ECB also launched the first year of the Hundred and delivered a full schedule of the domestic and recreational season. The success in delivering a full summer of cricket meant the ECB could generate all major revenue streams that support cricket in England and Wales.”
In comparison, the ECB reported that its administrative spending for the year was £205 million, a £14 million growth over the past year. It stated that the increase was primarily due to needing to pay extra assistance funding to first-class counties to cover lost sales for the T20 Vitality Blast, which could not be played in front of full-capacity crowds due to social distancing necessities.