The financial standing of New Zealand Cricket (NZC) has been given a significant boost following the country’s co-hosting of this year’s World Cup.
NZC, the governing body of cricket in New Zealand, has today (Thursday) reported an annual net surplus of NZ$23.7m (€14.4m/$15.4m) for the 2014-15 financial year.
NZC said interest in cricket in New Zealand has soared after the national team’s run to the final of the tournament, where it was eventually beaten by co-host Australia in March. Participation in the sport at junior and community level has significantly increased as a result, and NZC officials feel cricket in New Zealand is in a healthy position.
NZC is however forecasting a loss of NZ$5m for the 2015-16 financial year as a result of the nature of the International Cricket Council’s (ICC) funding model, although chief executive David White remains upbeat.
“The 2015-16 surplus is critical for NZC in terms of our long-term viability, especially with the next two or three years promising to be financially demanding,” White said.
“Having said that, I’m delighted to report that NZC has achieved, or is in the process of achieving all our Cricket World Cup legacy goals, including improving the playing infrastructure, growing attendances and viewership numbers, and improving participation numbers – especially at junior level.
“We are noticing a profound upturn in interest in cricket. Junior registrations are soaring throughout the country, ticket sales for this summer’s ANZ International Series are well above their usual levels, sales of merchandise are going through the roof, and viewership numbers are strong.”
Cricket Australia was also boosted by a record surplus of Aus$99m (€65m/$71.9m) for the financial year immediately following the World Cup. The organisation last month confirmed the tournament had helped increase revenue from Aus$295.9m to Aus$380.9m and generated 8,000 jobs and over Aus$1.1bn in direct spending.
In all, 20 matches sold out completely across New Zealand and Australia, with a record crowd of 93,013 turning out for the final between the two countries on March 29.