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November 25, 2011
Somerset have announced the highest profit in their history. They declared a £408,000 operating surplus which didn't include prize money from the Champions League Twenty20.
The figures cap a successful financial year for Somerset and their new chief executive Guy Lavender. However, silverware still proved elusive for the club as they again finished runners up in both the Friends Life t20 and Clydesdale Bank 40 then also enjoyed a run to the semi-final of the Champions League in India, earning them £320,000.
Turnover increased by 15% to £5.34million, largely thanks to non-matchday revenues and Somerset opened new conference and banqueting facilities in 2010. "While we only play cricket at the County Ground for around 40 days during the season, our ground is now busy on most days of the year," said Somerset chairman Andy Nash. "Substantial investment in recent years on facilities for conferences and events, catering and retail outlets, is paying back handsomely.
"As an organisation owned by its members, all profits are reinvested back into the club to enhance the facilities at the County Ground," he added. "It will also ensure we can position ourselves to continue to compete with the largest counties on the pitch and give ourselves the best chance of success where it matters most - in the middle."
Membership at Taunton also increased by 10% in 2011, reflecting the club's strong performance in all three domestic competitions. "Nothing breeds success like success," said Nash. "So cricket - be it in our age groups, academy or the professional squad - will continue to receive the maximum investment achievable."
Meanwhile, Somerset's neighbours Gloucestershire have again had their plans to develop their Bristol home delayed. The planning application was originally to be heard in September but successive postponements have pushed back the club's ambitions.
© ESPN Sports Media Ltd.
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