Warwickshire make operating profit despite Covid-hit year
- Published
Warwickshire hope to see Edgbaston full to its 25,000 capacity again at some point in 2021
Warwickshire have reported a profit for 2020 despite the season being largely lost to the coronavirus pandemic.
Apart from a pre-season friendly with a 1,000 crowd in July, the Covid-delayed campaign was played without spectators.
That meant a decrease of around £1m on their estimated earnings before deductions, but the Bears still made an operating profit of £281,000.
Advance ticket sales for international cricket and T20 Finals Day, and TV money, helped boost revenues.
Many supporters also opted to carry memberships forward to 2021 rather than ask for refunds, while Warwickshire also benefited from ticket cancellation insurance.
"We were overwhelmed by the generosity and support of our members, supporters and stakeholders," said Bears chief executive Stuart Cain.
Warwickshire, who began work earlier this month on phase two of their ground and site redevelopment project, are hoping that crowds will be allowed back in grounds by the time the 2021 season is truly up and running.
Although the County Championship is due to begin on 8 April, the biggest dates in the Bears' calendar are the second Test between England and New Zealand on 10 June, and the already sold-out ODI against Pakistan on 13 June and T20 Finals Day in September.
"Strong sales of major match tickets and club memberships for the 2020 season put us in a good position to initially mitigate the impact of Covid," said Warwickshire chief operating officer Craig Flindall.
"Major match ticket sales in March 2020 were significantly ahead of budget, with three days sold out, and we were able to retain these revenues through the game's ticket cancellation insurance.
"Whilst the relocation of these matches did result in the loss of hospitality, catering and retail revenues, we are very grateful to the England and Wales Cricket Board and the overseas boards for the great efforts made to stage these matches in bio-secure venues in order protect the whole game's revenue. "