County news

Gloucs announce £553,000 loss

ESPNcricinfo staff

April 6, 2012

Text size: A | A

Gloucestershire's chief executive Tom Richardson believes that the county needs to expand, or leave, its Nevil Road home to have a secure future and he will not be encouraged latest financial results which show a loss of £553,000 for a 16-month period up to the end of January this year. This followed pre-tax deficits amounting to a further £426,000 in the previous two years.

The latest figures, though, are skewed by a change in Gloucestershire's financial year end from September 30 to January 31 which means that an additonal loss making, off-season period is included. For the 12 months to January 2012, Gloucestershire squeezed a profit of £3,000 to bring them some hope that their finances are back on track.

Another disturbing financial return came despite good returns from England's one-day match against Sri Lanka - Richardson believes that international cricket is vital to the county's future -- a rise in gate receipts of £79,000 in 2011, helped by a record Cheltenham Festival and a reduction in squad costs of £136,000.

Tony Elgood, Gloucestershire's treasurer, said: "The turnaround from a deficit of almost a quarter of a million to a small surplus is excellent news and we are forecasting a significant surplus for the current year. We took some tough decisions and competed in 2011 with a significantly younger squad. We were, nevertheless, contenders for promotion in the championship right up to the last game.

"Our ground development plans have continued apace and we hope to have an outcome on the latest planning application on 30 May. The scheme is vital for us to develop as a club as well as retaining international cricket in Bristol."

© ESPN Sports Media Ltd.

TopTop
Email Feedback Print
Share
E-mail
Feedback
Print
ESPNcricinfo staffClose
News | Features Last 3 days
News | Features Last 3 days