Gloucestershire report financial loss

Gloucestershire County Cricket Club have reported a post-tax loss of £38,700 for the Financial Year 1 October, 1999 - 30 September, 2000.

Colin Sexstone, Chief Executive, says: "In view of our fantastic success on the pitch in 2000 this is a disappointing result; however, as already reported, success in cricket does not bring direct financial reward.

"With the County retaining only 6% of the receipts from the two finals (compared to 10% in 1999), but having to pay out substantial and well deserved bonuses to the players, the net income was negligible. This, together with the ECB reducing the central payment by over £50,000 and the appalling weather in 2000, were significant factors in the loss.

"That said, the Club once again generated more local funds with membership, sponsorship, merchandising and catering all showing significant increases.

"The Club's total income of nearly £2.5m (a record) is nearly double that achieved four years ago, and with uncertainty still surrounding the future levels of central funds it is a trend that must continue."