Lancashire CCC report £5m profit for last year
Lancashire have announced a profit of £5m for 2019, underlining the county’s strong financial position heading into the ongoing coronavirus pandemic.
The Red Rose enjoyed bumper incomes of £17.5m from hosting international cricket during last year’s World Cup and Ashes, and also £8.4m from conferencing and events.
The club’s turnover of £34m represents a record and is up £20m from the comparative figure just five years ago.
For the first time since 2010 Lancashire’s cash reserves are in the black, to the tune of £1.7 m. Old Trafford looks set to be a key part of any international summer schedule for the England team, with the on-site Hilton Hotel making it an attractive venue for the England and Wales Cricket Board’s bio-security plans, alongside the Ageas Bowl.
Lancashire and Surrey are the only two first-class counties who have not furloughed players since the start of the season was delayed.
Chief executive Daniel Gidney, said: “Clearly, these are now tough times as the club navigates its way through the current Covid-19 pandemic, but these results at least help relieve that financial burden – 2019 was a landmark year for the club when years of investment in talent and the infrastructure of Emirates Old Trafford was rewarded and truly reflected in our financial results.”
Last summer was dominated by the ICC Cricket World Cup and the Ashes Test series, with Old Trafford hosting 12 days of top-level cricket, including the second day of the CWC19 semi-final after the first day was rain-affected, each in front of 23,500 capacity crowds.