Essex have announced a loss of £39,869 for the year ending December 31, 2010, which represents an improvement on the deficit of £216,031 for the previous year.
However, Essex treasurer Keith Brown admits that the figure is disappointing. “It is still unsatisfactory,” he said. “There were positives in the result with strong membership and match income. All one-day matches contributed 90 per cent of our gate income, and the club is financially very dependent upon Twenty20 games.”
While Essex’s net match operating income increased by 38 per cent, it has to be remembered that the club was boosted by an increase to ten home Twenty20 matches last summer, including the match with Pakistan and a Friends Provident t20 quarter-final tie with Lancashire, which overall contributed 82 per cent of gate receipts.
That underlines just why Essex were aggrieved with the agreed reduction in Twenty20 cricket from 2012. They are however looking for appropriate compensation from the ECB for the relevant loss of income from that source.
Playing and coaching staff costs aggregated £1,939,974. The net income derived from matches at Chelmsford realised £754,129 and while the Southend festival showed a net income of £9,706 compared to £25,803 in 2009, the second festival at Colchester made a net loss of £1,696 compared to a profit of £5,818 the previous year.
Retail profits were extremely disappointing, leading to the closure of the outlet in Chelmsford town centre although the shop on the ground remains profitable.
In his Treasurer’s Report to members, Brown highlighted the financial implications to the county of a reduced Twenty20 schedule from 2012.
“Essex is more dependent on this source of income than any other county and even if we could focus on the most popular days of the week, the impact on our bottom line would be at least £180,000,” he added.
“Essex has strived to make a success of this format of the game while many others have not.”