Northamptonshire County Cricket Club have published their results for the financial year ending September 30 2015. They show strong signs of recovery and are in line with the forecasts stated by the Board of Directors. The turnover of the club has remained similar to the previous year despite a decrease in ECB contributions of nearly £350,000. This has been compensated by a growing income from conferences and events, sponsorship and improved gate receipts. Commenting on the results, Ray Payne, Chief Executive said “It was a key objective last year to develop a strong income stream away from the pitch and a key strategy of the board is to strive for financial independence from the ECB.”
There were visible improvements made to the County Ground last year including a refurbished Old Speckled Hen Lounge, new Sky media facilities and the installation of a digital scoreboard. The Indoor School has seen major improvements including new flooring, nets and lighting as well as a revamped gym thanks to a partnership with Matrix Fitness. During the year, loans were received from private investors meaning that investment properties owned by the cub were retained along with their future income. Northampton Borough Council also granted the club a facility of £250,000. As of yet, the club has not had to draw on this loan. In addition, local benefactors have committed to support the financial sustainability of NCCC during this period. Ray continued, “We are extremely grateful for the support and financial backing that has been shown to us by the Borough Council and private investors. All parties have given our business plan and the future of the club a strong vote of confidence”.
EBITDA (earnings before interest, depreciation and amortization) were at a loss of £54,315. It must be strongly stated that this result is in line with the Directors’ published forecast at the beginning of the financial year. The forthcoming season promises to be busy and productive. The promotion of the ground’s facilities will continue in order to develop a significant non-match day income which is essential if the club is to progress on the cricketing front. Financing arrangements are also in place to improve the working capital position so that the club can shortly begin to generate cash.
Last season’s cricketing performance produced many entertaining and exciting matches culminating in the narrow defeat on T20 final’s day. This year sees a small but competitive squad as we continue to develop our Academy and younger players. The squad will shortly be travelling to Barbados as part of their pre-season preparations and the club appreciates the contributions from various parties that have enabled that to take place.
Commenting on the financial results, Chairman Gavin Warren said “Northamptonshire County Cricket Club is in a strong position as we embark upon a new season. Ray Payne must be congratulated for successfully developing a good income stream away from cricket. We are exactly where we forecast we would be at this point in our business plan. The Board is looking forward to an exciting and successful 2016 season and urge the local community to get behind their team and help the club prosper.”
AGM information and the full financial report can be found here