Australia yet another goes to pay cut to buttress financial loss
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|| Desk Report ||
Cricket Australia (CA) chief Kevin Roberts on Friday said that they are going to face another round of cost cuts to shore up their high finances loss due to the coronavirus pandemic.
Like the other countries, all types of cricketing competitions in Australia have been suspended for an indefinite period since March, the fact that pushed them for a huge financial loss.
The CA has already furloughed about 80% of its employees, while state associations have also made deep staff cuts in recent weeks.
With India’s four-tour CA’s financial outlook has improved, worth an around 200 million US dollars in revenue, which is going to set ahead in the home summer.
But the CA CEO Roberts said that as the board is still lagging behind around A$80 million due to COVID-19 Australia might not be able to host the upcoming mega event T20 World Cup in October-November.
“We’re focused on delivering the best season possible noting that the likelihood of significant crowds is very slim,” said Kevin Roberts.
“Ordinarily that would deliver well over A$50 million in revenue to Cricket Australia,” Roberts told reporters on a video call on Friday.
“The T20 World Cup is a big question and that’s a factor of perhaps A$20 million and ... it’s likely that our biosecurity measures we need to put in place to deliver the season will cost in the order of A$10 million,” he added.
Most of the employees are on 20 per cent pay until the end of June the board's executive team has also taken a 20 per cent pay-cut.
Former Aussie players and media pundits are now accusing Roberts leadership amid the pandemic about the exaggerating the game’s financial problems.
However, the CA CEO said that the further cuts were needed to make so that they can maintain investment in community cricket as much as possible.
“We’ve made a commitment to significantly reduce the cost base of Cricket Australia, unfortunately that means no area of the organisation will be untouched,” he said.
“It’s unfortunate that there will be an impact on our people,” he concluded.
