County news April 17, 2014

Lancashire earn record profit

ESPNcricinfo staff

Lancashire have announced a record profit of more than three and a half million pounds for 2013, riding on the success of hosting an Ashes Test and completion of major stages of Old Trafford's redevelopment.

Although the county remains in debt to the tune of £13m, the 2013 profit of £3.54m is a dramatic turnaround from just two years ago, when they recorded a crippling loss of £3.96m on the back of lengthy legal battles over the redevelopment of the ground. Lancashire's previous record profit was £747,000 in 2006.

At the height of the long-running court cases, there were serious doubts about the future of the club as debt began to spiral out of control. At one point, in 2011, the players came close to not being paid.

"We have gone through some dark times," finance director, Lee Morgan told the Manchester Evening News. "But we are very proud of what we have achieved here. These results really set the club up for the future.

"Cricket is still our main focus and this will help us to invest more in cricket in this region. Having posted a loss of £1.5m in 2012, these figures represent a £5m turnaround."

The revenue from domestic cricket rose by 36% in 2013 and the club hopes to increase that further with the Friday evening NatWest T20 Blast matches this season.

The club also continue to benefit from a strong off-field income, largely based around The Point development and the new pavilion.

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  • Android on April 20, 2014, 2:45 GMT

    This is nothing compare to IPL profit!

  • Android on April 19, 2014, 12:43 GMT

    now they can afford a new coach seeing as Moores is with England probably a worse team

  • Gary on April 18, 2014, 8:05 GMT

    Excellent news. I would imagine most of this profit is from the Ashes matches, but it should be enough to see Lancs through until the next set of big international fixtures.

    Maybe now we can sign a big overseas name for the T20 matches......

  • Rishad on April 17, 2014, 19:09 GMT

    I think what England what want is a franchise t20 contest. How will that help the counties? Well, it won't directly but it sure will financially benefit ECB which currently is bearing a lot of financial costs of the counties. Moreover, not having to manage the t20 competition on their own will save the counties some money and in fact they'll even gain a free bit as the franchises will have to pay some percent of gate fees to the county managements that own the grounds. The franchises with all their hype generation will tactics will cause more people to start watching cricket EPL or whatever they'll call it which will be better for the game on the whole in England.

  • Rob on April 17, 2014, 12:24 GMT

    It would be useful to know how much of the profit was derived from the Ashes test. Ideally, the Point (as well as other facilities) should be the hub of LCCC's non-cricket revenue generation i.e. conferences, weddings, events etc.

    I'd also like to know how much they get from their car parking operation for MUFC home games where they used to charge £5 a car 30+ times per season.

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