The Yorkshire County Cricket Club has reported record profits for the year 2019, helped by Headingley hosting the third Ashes Test Match, four ICC Cricket World Cup fixtures and a One Day International versus Pakistan.
These matches helped Yorkshire to deliver earnings before interest, tax, depreciation and amortisation of goodwill (EBITDA) of £6.4 million, an increase from £515,000 in the previous year.
The profits have enabled Yorkshire to make debt repayments of £3.8 million in 2019 and £5.6 million over the last two years combined.
Further, the record year has enabled Yorkshire to reduce its net debt to £18.34 million from its year end peak at December 31, 2016, of £24.6 million.
“Catering and pouring rights reverted to Yorkshire in 2019, another significant contributor to the financial success, producing a revenue of £611,000 in the first complete year,” said the club.
Paul Hudson, The Yorkshire County Cricket Club’s Director of Finance, said: “This has been an exceptional year financially, which has delivered a significant impact on our funding.
“The results are due in large part to two specific events that occurred during the year.
“Firstly, the staging of four World Cup matches generated a one-off receipt of £1,000,000 that was distributed to all First-Class counties, together with payments to stage four matches of an additional £600,000.
“In addition, we received a small bonus on successful delivery.
“We were also able to sell a large volume of corporate hospitality for the matches and generated strong pouring rights income.
“Secondly, the Ashes was undoubtedly the standout financial highlight of the year, generating £4,700,000 in ticket sales, bolstered by another £1,900,000 of corporate hospitality revenue and pouring rights income …
“The ability to repay debt over the last two financial years has marked a long-awaited return to reducing the debt and hence interest burden that the club has built up, with the purchasing of the ground, and development of facilities.
“In summary, from a financial perspective, this has been a significant year for the club.
“We have made inroads into debt repayment and now have a platform from which we can move forward in a managed way.”