Cricket Australia has announced further job losses, a pause of international tours and executive pay cuts as it seeks to streamline its finances, which have been damaged by Covid-19.
A day after Nick Hockley was appointed as an interim replacement for the outgoing chief executive Kevin Roberts, the CA board outlined details of A$40m ($27.5m/€24.7m) of cost cuts over the next financial year.
Chairman Earl Eddings said cricket had not been immune from the impact of Covid-19 and this had required difficult decisions by CA at the height of the crisis.
The key points of the CA cost-cutting plan include a reduction of 40 jobs, pausing international tours for Australia A teams, as well as CA XI fixtures and the Fox Cricket National.
The board will also reduce budgets in areas including administration, travel, and marketing and advertising. It is cutting all bonuses for senior management and implementing executive pay reductions.
Eddings said: “We recognise that this is a difficult time for Cricket Australia employees, particularly for those staff members affected by these redundancies and their families. However, our responsibility is clear: to navigate a path for cricket through this period of uncertainty and disruption to ensure we come out the other side sustainable in the short term and prosperous in the long term.”
Hockley said temporary and permanent changes to CA’s cost base would help cricket cope with the short-term impact of Covid-19 and create a more sustainable financial position to manage four-year cycles that can involve annual revenue swings of A$100m depending on the cricket schedule.
CA is in discussions with the England and Wales Cricket Board about rescheduling a tour of England planned for July. A Twenty20 international against Scotland scheduled for June 29 in Edinburgh that was to be an add-on to the England tour has been cancelled, Cricket Scotland said on Wednesday.