The ECB reported a record turnover of £228 million for 2019/20 at its virtual AGM, an increase of £56 million on 2018.
The hosting of the ICC Men’s Cricket World Cup 2019 saw the record turnover met, while the ECB says the figure represents a considerable increase on an ‘average year’, in which the organisation would expect to reach a turnover of £125 million.
The governing body for cricket in England and Wales also says that 2019/20 profits exceeded expectations, too, hitting £5.7 million.
‘’The success of hosting the CWC19 and Men’s and Women’s Ashes on home soil saw us achieve record revenues for the game, and allowed us to distribute more funding across the game than ever before,” said Scott Smith, Chief Financial Officer, ECB.
“With the impact of COVID-19 these results are somewhat bittersweet, but it is nonetheless extremely positive to know that with the right conditions, the game can continue to grow financial momentum for its stakeholders.’’
The AGM also saw the ECB board ratify Ian Watmore’s appointment as the organisation’s Chair.
The ECB’s 41 members voted unanimously in Watmore’s favour, and he will replace the outgoing Colin Graves in the role on 1st September.
In addition the AGM also saw confirmation that Senior Independent Director, Lord Kamlesh Patel, will step down from the role after serving in it for more than five years. Lord Patel was involved in the creation of the 2018 action plan to engage South Asian audiences in cricket, which won the Diversity and Inclusion Award at the Sport Industry Awards 2019.
The ECB has also paid tribute to Lord Patel as a key voice in the creation of its Inspiring Generations Strategy.