New Zealand Cricket has released its 117th Annual Report today, reporting a financial surplus of $2.60m.
It is the first year in a new financial cycle following the ground-breaking eight year partnership agreement between New Zealand Cricket, the New Zealand Cricket Players Association and six Major Associations.
“In a year including an ICC Cricket World Cup, NZC expects to do well financially and it is heartening to see a good surplus posted, although it is lower than what was anticipated,” said Chief Executive Officer Justin Vaughan.
“The sharply increasing US dollar continues to be challenging and revenue from the professional game were lower than usual with just the solitary home series against Pakistan last season.
“The adverse impact was partly offset by a significant reduction in New Zealand Cricket’s operational costs and we are grateful for the support of the ICC with their donation following the Christchurch earthquakes.
“It is pleasing to report that cricket in New Zealand is exceptionally strong. Playing numbers increased 3%, with over 107,000 participants registered, and the strength of the game was also highlighted by the re-signing of our long-term commercial partner The National Bank.
Revenues for the year were $44.64m, compared with revenues for the previous year of $42.57m. Expenditure, excluding grants to associations, was $27.7m compared to the previous year of $32.9m.
View online – eBook (contains video files and links to the NZC website): http://epublishbyus.com/nzc_annual_report_2010-11/10021822
Download – PDF (link is not visible to the general public and can only be accessed via this email): http://www.blackcaps.co.nz/uploadGallery/publications/NZC-Annual-Report-2010-11v2.pdf