Good financial result for New Zealand Cricket

New Zealand Cricket posted a surplus, before grants to associations, of $20.9 million in the 2002-03 financial year, NZC announced in its annual report which was released today. Martin Snedden, NZC's chief executive, said the result under-pinned NZC's four-year financial cycle.

"This was the first year of a four year financial cycle and the result will assist us to deliver on our objectives through the next three years. Support of the Major and District Associations further increased with a total of $6.76 million distributed during this financial year, compared with $5.64 million the previous financial year.

"The increase primarily related to increased player payments at domestic level and extra funding of NZC's grassroots development programmes. In spite of issues such as the players contract process and the Kenyan safety and security issue, 2002-03 was a positive year for NZC," said Snedden.

A highlight during the year was an increase in registered player numbers which showed more than 100,000 people were playing cricket in New Zealand. This number was up from 94,000 participants last season.

"There were some outstanding performances from the TelstraClear Black Caps, including a Test series win in the West Indies, Test and ODI series wins against India in the National Bank Series and the tri-series win against Sri Lanka and Pakistan, in Sri Lanka. These results were tempered, however, by some disappointing performances in the ICC Champion's Trophy and, at times, during the ICC World Cup.

"There were also some tremendous individual efforts including Scott Styris's century on debut in the West Indies, Shane Bond's 6 for 23 against Australia in the ICC Cricket World Cup, which set a record for NZ bowling in an ODI, as well as Stephen Fleming's 274 not out in the first Test against Sri Lanka. This was the second highest individual Test score by a New Zealander.

"There were also memorable bowling displays throughout the year from Jacob Oram and Daryl Tuffey. The TelstraClear White Ferns began the year with a successful tour of Europe in which they won every game and later in the year reached the final of the World Series of Women's Cricket played at our Lincoln University facilities," said Snedden.

"The State domestic competition resulted in a win for the Northen Knights in the State Shield while the State Championship was won by the Auckland Aces for the second consecutive year.

"The State League was won by the Auckland Hearts for the fourth consecutive time."