Just weeks after predicting a record-breaking financial year, Cricket Australia is confronting a multi-million dollar revenue shortfall following the dramatically abbreviated first Ashes Test in Perth.
The Two-Day Collapse
The blockbuster series opener at Perth Stadium concluded late on day two, a result propelled by a blistering century from Australian batsman Travis Head and England's characteristically aggressive 'Bazball' batting approach. This rapid finish has left days three and four of the scheduled five-day Test match unplayed, creating a significant financial void.
Cricket Australia is now staring down an estimated loss of more than $3 million, money that would have been generated from ticket sales for the abandoned days. This is a particularly bitter pill to swallow given the initial record-breaking attendance. A total of 101,514 fans passed through the turnstiles, setting a new record for the venue and surpassing the 96,463 set during last year's Test against India.
Financial Fallout for Cricket Bosses
The financial impact was a concern even before the match concluded. Speaking on Saturday morning, with Australia's first innings still underway, CA chief executive Todd Greenberg half-joked about his worries of the Test not reaching day three. His fears were realised later that afternoon.
Greenberg elaborated on the wide-ranging consequences, stating, 'It's difficult for a number of different groups,' before highlighting the effect on broadcasters, sponsors, and the organisation itself. He emphasised the 'big economic impact on this series', a blow that comes on the heels of a challenging period for the sporting body.
At its annual general meeting last month, Cricket Australia announced an annual loss of $11.3 million, a figure that attracted strong criticism. This previous loss incorporated a summer that featured a five-Test tour by the cricketing powerhouse, India.
Contrasting Forecasts and Broadcast Success
Despite the immediate setback, CA leadership remains optimistic about the future. Following the October meeting, Chair Mike Baird explained that the financial picture was skewed by scheduling, with profitable white-ball matches falling into the next financial year. He projected a significant uplift of over $20 million and urged stakeholders to 'hang on to your hats' for what he promised would be a record year for attendance, viewership, and sponsorship.
In a silver lining to the cloud, broadcasters reported exceptionally strong audience figures. Foxtel's coverage of the first day was the most-watched first day of a first Test in their history, while Channel Seven also reported robust ratings for their day-one broadcast.
