Northants Cricket chief claims club is in strong position - despite Â£450k losses
The chairman of Northants County Cricket has played down the club's financial difficulties despite it making Â£450,000 of losses last year, accounts reveal.
Accounts released today show that in 2015 NCCC made losses of £449,127 after tax - up from £305,636 in 2014.
Its gross turnover was down £22,194 from £3,657,181 in 2014 and membership has fallen.
But commenting on the financial results, chairman Gavin Warren said that the position is promising considering its contributions from the England and Wales Cricket Board (ECB) dropped by £350,000 last year.
Mr Warren, who took over at the Wantage Road club in 2014, says he has not drawn down any of the £250,000 loaned to it by Northampton Borough Council to get it back to a financially stable position thus far.
He said: “Northamptonshire County Cricket Club is in a strong position as we embark upon a new season.
“Ray Payne (chief executive) 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.”
A statement from the club says the £450,000 loss is “in line with the directors’ published forecast at the beginning of the financial year.”
Loans totalling £475,000 were received from “private investors” in 2015, but the borough council loan, criticised by opposition members, remains untouched.
The audited accounts claim the club has continued a plan to develop its income stream away from dependence on the ECB.
They claim income from conferences and events has improved and funds from sponsorship and gate receipts are also up.
The Old Speckled Hen Lounge was refurbished in 2015, plus Sky media facilities and a new scoreboard screen were installed. The indoor cricket school flooring was replaced after the year end in September, completing the refurbishment of the ground.
In addition, the club says “local benefactors” have committed to support the club during this period.
Chief executive Ray Payne, said: “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”.