Top Australia Cricketers Agree On Postponement Of Revenue Projections

The COVID-19 pandemic has triggered one of the worst financial crisis in the world since the 2008 recession. And Cricket Australia has borne the brunt of it in a significant way. Cricket Australia has witnessed major upheavals within their Board for the worse ever since the virus explosion forced the cricketing action either in suspension, postponement or uncertainty.

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But top Australian cricketers have agreed with the Board on deferring the assessment of future revenue. It arrives after the national body forecasted a drop of almost 50 per cent in their revenue in the 2020-21 financial year. It is also a truce between Cricket Australia and the Australian Cricketers’ Association (ACA), who have had bitter relations in the past due to pay disputes.

An official statement from Cricket Australia thanked the ACA for constructively indulging in discussions with them in such challenging times. The parties involved have decided to postpone the revenue projection until a better time comes to assess the financial impact of the pandemic for the year ahead.

“The parties have agreed to postpone the Australian Cricket Revenue projection until such time they are better able to assess the financial impact of the pandemic and calculate a clear projection for the year ahead. We would like to thank the ACA for the constructive manner in which they have engaged in discussions in what has been a challenging time for the game,” the statement stated.

As per the Memorandum of Understanding signed with the ACA, Cricket Australia was slated to provide revenue projections by the end of April. The same got postponed due to the COVID-19 situation. Under the latest agreement, the same will be postponed to a later stage in the financial year when the association could have a clear picture of cricket in the home season. Australia’s leading players among men and women are on a revenue-sharing model in which means that the revenue projects would impact their income.

Calculating revenue projections 12 months ahead during a once-in-a-century pandemic has not been without its challenges: Cricket Australia

The apex body of cricket in Australia admitted the challenging financial ramifications of the global health crisis; however, were relieved to announce having agreed where all the stakeholders would have a clear picture to deal with the difficulties.

“Calculating revenue projections 12 months ahead during a once-in-a-century pandemic has not been without its challenges. But we believe we have arrived at a position that provides all parties with greater certainty about how to navigate the next year,” the statement added.

The Board would be hoping for the home series against India to go ahead which would generate a massive influx of wealth as well as the Big Bash League. As far as the T20 World Cup goes, it remains highly unlikely as the state of Victoria has witnessed a surge in COVID-19 cases.

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