Cricket Australia Revenue Will Reach $1B In Next Cycle After Rising 63% During Last Cycle
Cricket Australia said that revenue rose 63% to A$684M ($660M) in '09-12 and is projected to reach A$1.08B "over the next four-year cycle," according to Dan Baynes of BLOOMBERG. The governing body said at its annual general meeting in Melbourne that it is "on track to achieve its goal of having cash reserves" of A$70M by '16-17. It "records revenue over a four-year period due to annual fluctuations in income depending on which national teams tour Australia." The growth comes even as Australia’s Test team struggles on the pitch, winning only one of its 10 elite matches so far in '13. CA Chair Wally Edwards said, "Financially, we’ve never been in better shape. A lot of good things are happening and we just need to win the Ashes now and I’m sure everyone will be laughing" (BLOOMBERG, 10/24).
BOARDROOM UNCERTAINTY: In Sydney, Peter Lalor reported CA, "under siege" ahead of an Ashes series England is favored to win for a fourth consecutive time, has "dismissed claims by Ricky Ponting the national side hadn't received the support it needed, with the board throwing its backing behind" CEO James Sutherland. In turn, Sutherland "has backed" High-Performance Manager Pat Howard. Sutherland "hit out at claims by Ponting that Cricket Australia came to the realisation that it needed to spend more money on the team only after sides such as England had passed them by." He said, "The reality is that through that period our expenditure on high performance and elite cricket grew from A$39M to A$75M. That includes player payments, but if you take player payments out, it grew from A$7M to A$19M. For the life of me I can't understand how that is a signal of an elite organisation that is not investing in high performance or elite performance" (THE AUSTRALIAN, 10/25).
CEO'S JOB SAFE: Also in Sydney, Chloe Saltau reported Edwards said that Sutherland "will keep his job as chief executive of Cricket Australia even if the Test team loses the Ashes five-nil." As Edwards expressed bewilderment that the CEO "was under public pressure after 12 years at the helm," a belligerent Sutherland lashed out at the suggestion made by Ponting. Edwards said, "There is no discontent whatsoever with James' performance and I am bewildered where the story has come from." Asked why he should not be held accountable for the decline of Australian cricket during his tenure, Sutherland said, "I am accountable to the board of Cricket Australia and they set the strategy for Australian cricket and they set my objectives. I am very clear on those objectives and what we need to do. The chairman and the board are the judge of my performance, the people who work for me are my responsibility" (SYDNEY MORNING HERALD, 10/24).