ECB reveals losses worth £16.1 million for 2020/21

The pandemic has not spared any sporting organisation across the world. On Thursday, England and Wales Cricket Board (ECB) confirmed that losses worth £16.1 million were recorded during 2020/21. The overall revenue for the English cricket board has from £228 million to £207 million.

Along with recording losses, ECB has also witnessed a reduction in cash reserves. As things stand, the cash reserves stand at £2.2 million. In the previous annual report, ECB had enjoyed a healthy profit, but the devastating pandemic had a severe impact on the books.

It was previously reported that ECB had reportedly lost close to £100 million during the pandemic last summer. The English board also decided to cut the workforce by 20%. However, there was a positive update from the government early in March as Chancellor Rishi Sunak had confirmed that English cricket will be the biggest beneficiary from the Sports Recovery Package worth £300 million.

ECB chief executive Tom Harrison stressed on Thursday that there is still some way to go for the board to completely recover from the pandemic. The upcoming summer is going to be very productive for ECB. County cricket is in full flow, while the one-day domestic tournament and Vitality Blast are also likely to go ahead. ECB’s ambitious project, The Hundred will finally go on the floor in July.

Moreover, ECB will be hosting New Zealand and India for the test series, while Pakistan will be touring for the white ball series. The financial situation for ECB would have been even more bleak if Australia, West Indies, and Pakistan hadn’t toured England during last summer. They made sure that there are strict bio bubbles to make sure these series were successful. The English board managed to save broadcast revenue by organising these series or else losses could have been much worse.

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