New Edgbaston helps transform Warwickshire fortunes

WARWICKSHIRE County Cricket Club has announced a 50% increase in turnover for the year ended September 30, 2011, reversing an operating loss of £2.1m in 2010 into a positive of £326,828.

Last year marked the start of a new era for the Edgbaston following the completion of its £32m ground redevelopment, underpinned by the construction of a new pavilion stand.

The new stadium opened prior to the 3rd npower Test Match between England and India in August and helped transform the club’s fortunes. The new 25,000-seat capacity helped to offset the decline in revenue while the redevelopment work took place in 2010.

The stadium accommodated a combined attendance of more than 110,000 for the test match, while the club also hosted the Friends Life t20 Finals Day in 2011. The club also tasted on-the-field success, ending the season as runner-up in the county championship.

The club said the results were encouraging, especially following the disappointment of the operating loss in 2010.

As well as its cricketing successes, the club has also reinvigorated its hospitality and events business by creating a joint-venture company, Edgbaston Experience Ltd, with its long-standing catering partner Compass Group, to operate its new conference, banqueting, wedding, and exhibition facilities.

Craig Flindall, WCCC’s finance director, said: “The redevelopment is an essential part of creating a more rounded and robust business model and has already shown to be paying dividends for the club after it was opened on schedule for the India Test Match in August.

“The main contract was also delivered under budget, which represents a significant achievement for the club.  It has made the last 12 months one of the most exciting periods in the club’s history and these results are certainly a step in the right direction following the disappointment of 2010.”

“Whilst we’re acutely aware that we are still trading in tough economic conditions and have on-going repayment obligations to meet, with England playing at Edgbaston in all three forms of the games in 2012; 31 days of major match cricket confirmed here in the next five years and the growing popularity of our new facilities for conferences, weddings and exhibitions, we have much to look forward this year and beyond,” he added.