|Photos||Video & Audio||Blogs||Statistics||Archive||Shop||Mobile|
January 25, 2013
Worcestershire have announced a profit after interest of £225,000 for the year ending September 30, 2012, a figure heavily swollen by proceeds from Premier Inn for a long-term lease for a hotel development at New Road designed to secure the county's financial future.
Without the exceptional payment of £350,000, Worcestershire would have shown a pre-tax loss of £125,000 after one of the wettest summers on record. New Road is particularly susceptible because of recurring flooding of the ground from the River Severn.
In a season where Worcestershire were relegated from Division One of the championship, income fell by 12 per cent to £2.62m.
Worcestershire's annual report states: "At the club's 2011 AGM it was noted that we had done a great deal to reduce risk, but clearly have not yet done enough to offset the extreme adverse weather in 2012. Met Office figures showed 2012 to be the second wettest summer since records began and resulted in the loss of over 15 days home and away cricket, making 2012 a real challenge.
"However, we now have our Premier Inn hotel and new club facilities under construction, which is anticipated to attract 35,000-40,000 hotel visitors a year. Combined with our own new conferencing, bars and executive facilities will allow the Club to extend existing revenue streams as well as develop new areas. This will create a truly 365-day-a-year business. With a long-term, viable and sustainable future ultimately allowing further investment both on and off the pitch."
Phase 2 of Worcestershire's ground improvements is now underway on the Severn side of the ground, which should see a 120-room hotel completed by November 2013. The report admitted: "While it is expected there will be some disruption during the 2013 season, we feel it is a small price to pay for the future benefits the facilities will bring."
|Comments have now been closed for this article
When Mitchell Johnson hit Virat Kohli on the helmet with a bouncer, Australian fielders came from everywhere. Mental disintegration had gone, replaced by the cricket unity. Two teams, one family.
From the bouncer that struck him on the badge of his helmet to the bouncer that dismissed him, Virat Kohli's century, and his duel with Mitchell Johnson, made for compelling human drama
After the tragedy of Phillip Hughes' death, this match showed that cricket and life will continue to go on. This time Test cricket dug in and got through to tea.
Virat Kohli's innings on the final day transcended the conditions, the bowlers and his batting partners, and when it was all in vain, he displayed remarkable grace in defeat
The new stand-in captain has the makings of a long-term leader, given his ability to stay ahead of the game
Turning your back on a system that the whole cricketing world wants a discussion on, refusing to discuss it because it is not 100%, is not good enough
The failed gamble of handing Karn Sharma a Test debut despite him having a moderate first-class record means India have to rethink who their spinner will be
After a long time we have seen an Indian team and captain enjoy the challenge of trying to overcome stronger opposition in an overseas Test