New Zealand Cricket today released its 114th Annual Report and announced a profit of $2.905m, before distributions to Major and District Associations.
“The 2007/08 financial year was the second of the current four-year cycle. NZC 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 and inbound tours from the likes of England and India. Overall for the four years ending May 31 2010, NZC is forecasting a surplus result,” said NZC CEO Justin Vaughan.
“During the past financial year we reached some important milestones in our efforts to drive New Zealand Cricket and the sport of cricket to new heights, including entering into an international broadcasting rights agreement with Sony Entertainment Television and amended our Master Agreement with contracted players to greatly increase their incomes.”
Vaughan added: “Our 2007-2011 Strategic Plan Pushing Beyond Boundaries was launched in the past year and outlined the strategic objectives the organisation is aiming for.
“There have been strong indications we are progressing successfully towards achieving these. As well as financial achievements over the past year we also registered significant success in our high performing teams as well as grass roots development, where for the first time we had over 100,000 registered participants.”
