Ashes fever helps Warwickshire achieve record year
ENGLAND’S successful Ashes campaign has had a beneficial effect on the finances of Warwickshire County Cricket Club, with the club announcing a record financial year.
Latest figures show the Edgbaston club grew year-on-year turnover by 47% to £18.3m, with earnings before interest, tax, depreciation and amortisation (EBITDA) up 122% to £3.7m.
The club has now increased turnover and EBITDA in the last three financial years, with last summer’s Third Investec Ashes Test Match – which England won inside three days – boosting ticketing sales, catering, hospitality and merchandise revenues.
The performance is testament to the sound financial planning instigated by the club’s former chief executive Colin Povey, who has left a solid base on which his successor, Neil Snowball can build.
However, it was not just thanks to international cricket that WCCC enjoyed a successful year.
It began the 2015 season as the holder of the NatWest T20 trophy and its signing of then New Zealand captain – and the world’s most in-demand one-day batsman, Brendon McCullum – also helped to swell the coffers.
T20 revenues rose 43%, with attendances up 86% but while the Birmingham Bears made it through to Finals Day at Edgbaston, the team (minus McCullum) couldn’t quite retain the trophy.
Craig Flindall, Finance Director of Warwickshire CCC, said: “This was the first occasion that Edgbaston has hosted an Ashes Test Match since the £32m redevelopment, in 2011, and the new facilities and increased capacity has led to a £2.6m (17%) increase in turnover and £1.9m (108%) increase in EBITDA in comparison to 2009, when we last hosted the Ashes.
“Revenues from major match days are the main driver of the club’s turnover and, whilst we cannot replicate the impact of an Ashes Test Match every year, we have an excellent allocation of fixtures confirmed until 2019, which underpins our strategic plan and financial results for the coming years.”
New chief executive Snowball said: “Whilst hosting an Ashes Test Match is a great opportunity, the club had to work very hard to maximise this opportunity; activities included the installation of a temporary stand to give even more spectators a chance to watch the match and new travel and catering initiatives that made the spectator experience more enjoyable.
“It is also very encouraging to be rewarded for the increased investment in T20 cricket. The regular opportunity to watch Birmingham Bears play on a Friday night and allowing under 16s in for free has made T20 cricket at Edgbaston a very exciting proposition, and we have ambitious plans to grow further in 2016.”
Away from its core cricket business, Edgbaston’s conference and events business also continued to thrive, with revenues in 2014/15 increasing to a record level of more than £2.2m.
