Cricket Australia loss: CA reports $7 million deficit despite India series revenue surge

Cricket Australia (CA) has reported a net loss of A$11.3 million (US$7.34 million) for the 2024–25 financial year, despite a strong surge in earnings from hosting the Border-Gavaskar Trophy — a highly anticipated Ro-Ko (Rohit-Kohli) comeback series against India.

At its annual general meeting (AGM), CA announced that total revenue rose by A$49.2 million, reaching A$453.7 million, boosted by a lucrative new domestic media rights deal and packed stadiums during the India tour.

However, the financial upswing was overshadowed by rising operational costs, which jumped A$24.1 million, primarily due to marketing campaigns for the India series and extended international tour schedules.

Distributions to CA’s member states and territories increased slightly to A$120.9 million, but Cricket Victoria (CV) sharply criticised the board for “failing to turn record revenues into profits.”

“For yet another year, CA presents a financial loss with a balance sheet showing member funds in deficit,” said CV Chairman Ross Hepburn, expressing frustration over continuous losses since FY2019, excluding pandemic impacts.

CA Chief Executive Todd Greenberg and CFO Sarah Pragnell expressed optimism for FY2025–26, projecting strong profitability from the upcoming Ashes series starting November 21, 2025, in Perth. Sponsorship and commercial revenues are expected to rise from A$69 million to A$86 million.

Pragnell added that India’s white-ball tour and the Ashes series would “enable CA to rebuild net assets and cash reserves.”

Meanwhile, CA is exploring private investment in Big Bash League (BBL) teams to increase competitiveness against global T20 leagues like the Indian Premier League (IPL). However, several member states remain hesitant.

“We believe all options must be explored before selling off member assets,” warned Hepburn.

Despite the fiscal setback, Cricket Australia remains hopeful that marquee tournaments and stronger international fixtures will restore profitability in the coming year.