Warwickshire announce operating profit of £4.9m for 2022 as finances move back towards pre-Covid levels
- Published
Edgbaston will host matches in the men's and women's Ashes this summer as well as a T20 men's international against New Zealand
Warwickshire have recorded an operating profit of £4.9m for 2022 - an increase of £3.7m on the previous 12 months.
Turnover of £26.3m was almost 50% higher than in 2021 as the club saw its finances move back towards levels seen before the impact of the pandemic.
Full crowds for the men's Test match and T20 international against India and the hosting of women's matches at the Commonwealth Games all boosted revenue.
The Bears also saw general membership at Edgbaston more than double in 2022.
Chief operating officer Craig Flindall said he was "pleased" to see figures back to pre-Covid levels but highlighted the "rising energy costs" and the "uncertainty around consumer confidence" as reasons to view the results with "cautious optimism".
Flindall added: , external"First and foremost, we are one of the world's most respected cricket venues, and a professional cricket club, so we continue to invest heavily in both the venue and our teams.
"However, we also need to manage our debt so that we can move on to the next phase of Edgbaston's re-development."
Development on and off the field
Warwickshire avoided relegation from Division One of the County Championship last season by the slimmest of margins, only securing their future in the top flight with a Liam Norwell inspired final-day win over Hampshire in the last game of the season.
The 2021 County Champions have made a number of key signings ahead of this season, however, with England all-rounder Moeen Ali returning to the club from Worcestershire with another all-rounder Ed Barnard also moving up the M5 from New Road.
Pakistan seamer Hassan Ali and former Durham veteran Chris Rushworth will also boost the bowling department in 2023 as the club hope for better fortunes on the field this summer.
Bumper crowds are also expected for the men's and women's Ashes this year, while another sell-out T20 Blast Finals Day is in prospect along with men's and women's matches in the Hundred.
The club's plans for the development of Edgbaston will also continue with the building of 375 apartments and a number of shops set for completion in October following the building of a new public piazza at the ground.
Chief executive Stuart Cain said the club also plan to consult with members and the local community over the re-development of the Raglan and Priory stands that would include the building of a hotel.