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Post by Wicked Cricket on Feb 26, 2016 16:52:21 GMT
While Sussex appear to be on a, hopefully, only short-term financial decline, Kent, the once bad-boy of county cricket, seemingly are on the income ascendancy. One hopes CEO Jamie Clifford can keep this up whether it's all smoke and mirrors or not. A touring match with the Australians and a home T20 QF all helped the coffers alongside attendance figures across the season at the highest level since 2009. Other good news includes a £mms transformation of the Beckenham county ground and, finally, planning permission was given for the 'McCarthy & Stone' land sale. The Canterbury City Council may sleep more soundly now. www.kentcricket.co.uk/news/kent-cricket-financial-results-2014-15www.bbc.co.uk/sport/cricket/35670640 |
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Post by Deleted on Feb 26, 2016 17:56:05 GMT
While Sussex appear to be on a, hopefully, only short-term financial decline, Kent, the once bad-boy of county cricket, seemingly are on the income ascendancy. One hopes CEO Jamie Clifford can keep this up whether it's all smoke and mirrors or not. See flashbade's comments on EBITDA. After interest, taxes, depreciation and amortisation, Kent made a loss of £142,659, despite the windfalls from a sell-out match v the Aussies, a home T20 q/f, a successful Madness concert and saving £100k on the salaries budget by being the only county not to employ any overseas stars. Definitely moving in the right direction. But before we all start throwing our caps in the air, it also reinforces what a perilous state county cricket is in. The planets were all in alignment for Kent in 2015 and yet even in such a providential year, they still made a loss. |
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Post by flashblade on Feb 26, 2016 18:10:30 GMT
While Sussex appear to be on a, hopefully, only short-term financial decline, Kent, the once bad-boy of county cricket, seemingly are on the income ascendancy. One hopes CEO Jamie Clifford can keep this up whether it's all smoke and mirrors or not. See flashbade's comments on EBITDA. After interest, taxes, depreciation and amortisation, Kent made a loss of £142,659, despite the windfalls from a sell-out match v the Aussies, a home T20 q/f, a successful Madness concert and saving £100k on the salaries budget by being the only county not to employ any overseas stars. Definitely moving in the right direction. But before we all start throwing our caps in the air, it also reinforces what a perilous state county cricket is in. The planets were all in alignment for Kent in 2015 and yet even in such a providential year, they still made a loss. I love the way that Kent try to play down the loss of 142k - they call it "the historical deficit"  |
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Post by Deleted on Feb 26, 2016 18:54:56 GMT
What is the equivalent Sussex deficit FB ? Is it not much larger?
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Post by coverpoint on Feb 26, 2016 19:09:20 GMT
The new accounts are very disappointing, and a sad reflection on the current Board and management. Read the Treasurer's report. Good he is open. But his report keeps emphasising increased costs absorbing extra commercial and catering income. But why were these costs not anticipated and controlled, as any good management would? Another negative mentioned is membership income. Down quite significantly, though excuses around life membership. Told we remain committed to increase our membership. But no discussion about whether our membership pricing and offering is appropriate, or how we might increase this income. But am I mistaken, did we not launch a membership drive recently supported by external consultants? Ten years ago, Sussex and Somerset had roughly the same membership income. Now Somerset's membership income is close to double ours. Better management? Their fans come from Devon, Cornwall and Wiltshire! |
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Post by Deleted on Feb 26, 2016 19:09:32 GMT
I love the way that Kent try to play down the loss of 142k - they call it "the historical deficit" The current statement on our family shares portfolio shows that it is worth £46,000 less than it was at the start of the current tax year last April. I have a meeting on Monday week to discuss this catastrophe with our brokers Investec - the same people who sponsor Test cricket and who seem to have put all our money into disastrous oil and mining stocks. If they try to tell me it is merely a "historical" loss or that applying the principles of EBITDA I'm actually in profit, I swear I'm going to break with a lifetime of pacifism and sock them one!  |
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Post by coverpoint on Feb 26, 2016 19:10:50 GMT
What is the equivalent Sussex deficit FB ? Is it not much larger? £607,000. More than twice the player budget overspend. |
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Post by flashblade on Feb 26, 2016 21:42:52 GMT
What is the equivalent Sussex deficit FB ? Is it not much larger? It's 671k - see my post up-thread. |
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Post by Wicked Cricket on Feb 27, 2016 11:19:41 GMT
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Post by leedsgull on Feb 27, 2016 14:52:16 GMT
And Worcestershire are precisely the sort of team that will be "disenfranchised" should the Test match grounds gain complete control of things.
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Post by flashblade on Feb 29, 2016 11:58:46 GMT
Can't find a copy this year's accounts, but I did find last year's. Interesting to note that they didn't provide for any depreciation on buildings and ground improvements, and I guess they won't have done this year either. So, read Worcester's results with that caveat. |
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Post by leedsgull on Feb 29, 2016 14:59:01 GMT
Yorkshire are reporting a £368k profit but also say they have rescheduled their debt and paid off Graves which all seems very weird. There is a flow chart in the literature which is beyond my understanding. I have no scanner to reproduce it.
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Post by hhsussex on Feb 29, 2016 15:10:43 GMT
Yorkshire are reporting a £368k profit but also say they have rescheduled their debt and paid off Graves which all seems very weird. There is a flow chart in the literature which is beyond my understanding. I have no scanner to reproduce it. Very quick first impressions from looking at that Annual Report and Accounts are that there is an awful lot of smoke and mirrors going on. I presume that the flow chart you mention is one of those on page 7 of the link below, detailing changes in funding and the 12 year debt history? yorkshireccc.com/uploads/download/20160229132216_AGMBrochure2015Online.pdf |
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Post by leedsgull on Feb 29, 2016 16:06:24 GMT
hh I was wrong to call it a flowchart but it is still gobbledygook to me  |
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Post by hhsussex on Feb 29, 2016 17:01:02 GMT
hh I was wrong to call it a flowchart but it is still gobbledygook to me Me too, leedsgull |
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