New Zealand Cricket has released its 116th Annual Report today, reporting a deficit of $2.43m which was offset against reserves, leaving a closing balance sheet equity position of $6.91m.
NZC operates on a four-year cycle due to variances in revenue over a four-year period due to ICC events, international television rights and inbound tour opposition. It has finished its four year cycle ending 31 July 2010 in a positive position; accumulating $3.30m of additional equity over the period.
“A beneficial Australian home series, ICC World Twenty20 and ICC Champions Trophy helped boost revenue but the rise in the US dollar has negatively impacted our bottom line,” Chief Financial Officer Dave Mills said. “During the year NZC made grants of $8.96m to Major Associations, excluding domestic player payments. This compares to $9.22m in the 14 month financial period to 31 July 2009.”
New Zealand Cricket welcomed a number of new partners including HRV, Ford, IHG, KFC and Action Indoor Sports and is particularly grateful to The National Bank, DEC , Nestle, SKY Television and The Radio Network for their loyal support.
Cricket in New Zealand has never been this popular with over 107,000 registered players, the highest number in a single season and a record number of New Zealanders watched cricket with both ground attendances and television viewer hours significantly exceeding targets.
The National Bank series against Australia featured sold out matches at Eden Park and Seddon Park as well as a massive crowd of 26,000 witnessing the exciting Twenty20 ‘super over’ victory at AMI Stadium.
“The growth and interest is a reflection of both a successful development programme and a thrilling summer of cricket,” said Commercial Manager Peter Dwan. “The inaugural HRV Cup was a huge success with close to 100,000 people attending the matches and international cricket continued to attract strong live support."
In the Annual Report, New Zealand Cricket Chief Executive Justin Vaughan acknowledged a number of international achievements saying: “During the year the BLACKCAPS made the final of the ICC Champions Trophy-only the second time that our leading team has made the final of a world event.
“The White Ferns continue to perform with great credit and have established themselves as the number two women’s team in world cricket. For the third time in succession the White Ferns made the final of an ICC event, this time the Women’s World Twenty20 in the Caribbean.”
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