Sussex sanguine about 2010 losses

Sussex are confident that the county will return to profitability next year despite posting losses of £171,000 in their latest set of financial results.

The county’s overall turnover dropped by more than £1m to £4.863m although actual revenues increased by 2% year on year.

Chief executive Dave Brooks explained: “Comparing against 2009 is quite difficult. That year we had the benefit of two home knock-out cup matches, a trip to India for the Champions League and four days of sold-out, sun-baked cricket against Australia. Adjusting for that, our actual revenue increased slightly.

“We are comfortable with that especially when the impact of last year’s football World Cup is taken into account. On the Friday night England played Algeria we lost £50,000 on our Twenty20 game against Hampshire.”

Sussex have also been hit by falling interest rates on the Spen Cama legacy and the fact that they are eating into the money to help finance the second phase of the redevelopment of the County Ground at Hove.

Chairman Jim May instigated a three-year plan when he took over in 2009 aimed at delivering a surplus from 2012 onwards and is confident that will happen.

Encouragingly for Sussex, both match-day income and commercial revenues rose sharply thanks to a drive to recruit more members in a simplified membership structure and the popularity of the new corporate facilities at Hove.

May said: “I am confident next year we will start to show a surplus again. We have a very capable top team at the club ensuring that we show financial prudence while still delivering as good a team as we can get on the pitch.”

This entry was posted in Bruce Talbot, County cricket, Sussex and tagged , . Bookmark the permalink.

Comments are closed.