Leicestershire plunge back into red
Leicestershire have plunged back into the red with a loss of £254,000 for the year to September 30, 2012. This compares to a surplus of £294,000 in 2011 and is one of the worst results so far as the first-class counties reveal contrasting fortunes following one of the wettest summers on record.
Mike Siddall, Leicestershire's chief executive, said: "The club always knew that the superb performance of 2011 would not be repeated but we are, nevertheless, disappointed to record such a large loss.
"Last year there were no exceptional receipts from the ECB in respect of the India Tour in 2011. This reduced ECB income by £184,098 and there was no repeat of the £95,000 received for the success in the FLt20 competition or the £30,000 for participation in the Champions League. Donations to the Club were also £170,000 down following the outstanding year in 2011.
"The main club sponsor did not renew for 2012 and, with the worsening economic climate during the year and the worst summer weather for over 50 years, almost all areas of income fell short of budget. Every FLt20 game was affected by rain with receipts 50 per cent down on budget with the key games against Australia and West Indies suffering as well. However, it is pleasing to note that expenditure was contained within the figures budgeted."
Leicestershire are pinning their hopes on the development of Grace Road, one of the largest playing areas in the country, to alleviate financial problems in the future.
"We have exciting ground development plans including the building of a community sports arena at Grace Road with our partners, Leicester Riders and Leicester College. These plans will aid the financial sustainability of the Club," Siddall said.