Northamptonshire County Cricket Club have announced they recorded a healthy profit of more than £250,000 for the year ending September 30, 2018.
Things may not have gone to plan on the pitch for David Ripley’s side, who struggled in all formats of the game last summer, but off it there was success.
The club has announced an EBITDA (earnings before interest, depreciation and amortisation) profit of £287,212, which they say was in line with budgeted expectation for the year.
One of the main reasons for the profit was the success of two major outdoor concerts at the County Ground, with Little Mix playing there in July and Craig David and Rita Ora in early September.
There were also very healthy crowds for the Steelbacks’ home matches in the Vitality T20 Blast.
The club also says it is on course to pay the ‘final element’ of a loan owed to Northamptonshire County Council, and that it intends to ‘be debt free by 2020’.
A statement from Northants read: “The club continues to promote its improved stadium facilities to develop a significant non-match day revenue stream, which in turn supports its cricket operations.
“Most notably in 2018, the club featured two very successful concerts by international artists Little Mix, Craig David and Rita Ora, with more than 35,000 people attending the two events.
“Match day attendances, particularly the T20 campaign, remained healthy.”
The statement continued: “Last season’s cricket performances were disappointing, with several injuries preventing the club from fielding its first-choice side.
“The Board continues to invest in the team by signing a number of young players with huge potential to the squad, namely Charlie Thurston, Ben Curran and promising Zimbabwean Blessing Muzarabani, who will bring pace to the Steelbacks’ attack.
“Similarly, the club attracts international players to feature in all formats of the game throughout the forthcoming season - Temba Bavuma, Faheem Ashraf and the West Indies Captain Jason Holder.
“Northamptonshire CCC remains financially sound and is still on course to repay its final element of the Northamptonshire County Council loan and be debt free by 2020.”
Northants chief executive Ray Payne said: “The year 2018 was always going to be a financially challenging one for the club.
“However, I am pleased with the efforts of everyone to continue to meet the financial targets set.
“Despite the challenges, we have remained committed to developing cricket within the county and working closely with our neighbouring minor counties to develop young players and attract more spectators to games.”
Chairman Gavin Warren added: “The club continues to take steps forward in its long term strategy and I’m delighted with the leadership shown by chief executive Ray Payne and congratulate the whole team for the financial results delivered in 2018.”