County news

Sussex positive after 2012 loss

ESPNcricinfo staff

February 27, 2013

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Darren Sammy needs his umbrella as he inspects the pitch, press conference, Hove, May 3, 2012
West Indies' tour match at Hove was one of many to suffer due to the poor weather in 2012 © PA Photos

Sussex have reported a loss of £325,375 for 2012, with the club's success in reaching the semi-finals of both limited-overs competitions helping to offset the poor weather that hit county takings around the country.

Turnover remained the same, at £5.2m, but although operating profits were up, an increase in depreciation to £553,000, after the redevelopment of Sussex's Hove ground, saw losses jump by more than £200,000 on the previous year. The club suffered an almost-total washout to West Indies' tour match in Hove - with only 34 overs bowled over three days - but they did benefit from a one-off payment of £133,000 from a settled legal claim in 2012.

"Whilst a £227k operating surplus is a credible outcome, it was boosted by the one off receipt of £133k in respect of the settlement of a legal claim," Simon Crundwell, the Sussex treasurer, said.

"Alongside continuing challenging economic conditions, the unseasonal weather in 2012 contributed in part to our match income being 22% down on prior year. However, alongside the legal claim, income from our home Clydesdale Bank 40 semi-final and home Friends Life t20 quarter-final was vital. Encouragingly, our non-match day revenue continues to grow, 28% ahead on the prior year, which is an important cornerstone of our medium-term business plan.

"The deficit of £325k recorded is after charging increased depreciation of £553k, reflecting the completion of our ground redevelopment. Importantly however, the club remains cash positive at an operating level with £95k generated from continuing operations after interest and before non-repeat income and depreciation."

Jim May, Sussex's chairman, added: "The county club business model is marginal and without our success in one-day competitions, Sussex would have made an operating loss. However, it is pleasing that, whilst the playing side remains strong, we are making progress year-on-year on the business front."

© ESPN Sports Media Ltd.

Posted by Sussexx on (February 27, 2013, 23:08 GMT)

Give Yardy his captaincy back and sit amd see how much lucrative Sussex would be for 2013. I had said that before already and I. Still saying that give him ( Yardy) his captaincy back as Sussex havd earned pretty good money under his Leadership. Good luck and love you Sussex sharks.

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