Kent report £300,000 loss
Kent have reported a loss after tax for the year ended October 31, 2005 of £309,998. This compares with a small profit of £5,548 in the previous 12 months.
"This is clearly an extremely disappointing outcome for the year," admitted Carl Openshaw the county chairman. "There were two main contributing factors to the results: a seriously adverse outcome from our caterers, whose contract with us has now been terminated, and an increased investment in cricket which did not yield the hoped for additional return in gate receipts and commercial income.
"Despite the enthusiasm generated by the Ashes, finances for most county clubs remain precarious," he warned. "Only those counties which benefit from the substantial revenue derived from staging Tests can look forward to making profits on a consistent basis, and there is increasing concern amongst non-Test match counties about the widening gap in available resources.
"We are, nevertheless, determined to try to remain competitive both on and off the field and we have plans for the St Lawrence Ground which are aimed at providing a sustainable future for the club."
Kent are currently working with commercial partners and the local council on plans to redevelop the ground with a view to producing vital non-cricket revenue from conference and leisure facilities.