Glamorgan report 'reasonable' £316k losses for 2023
- Published
Hosting England and Welsh Fire earned Glamorgan £1.83m in 2023
Glamorgan reported losses of £316,000 for the calendar year to 31 December 2023.
That figure compares to a small operating profit of £53,000 for the previous 12 months, though the club said the loss was better than expected and it had been able to reduce debts.
The club made a £431,000 profit before interest, tax and depreciation.
New chief executive Dan Cherry said the loss was a "reasonable financial outcome" for the year.
Cherry, who was appointed to the role on a permanent basis in February, insisted he was optimistic about the county's longer-term financial future, despite expecting a "constrained financial environment" for 2024.
In a report to club members seen by BBC Sport Wales, he wrote: "The prospect of significantly improved revenues through international cricket and particularly the Hundred (franchise) competition from 2025, will enable more investment in key areas."
Staging England games and the Welsh Fire franchise earned Glamorgan £1.83 million in 2023, a major proportion of the county's income.
Catering and events profits also rose but there was a cut in funding from the England and Wales Cricket Board (ECB) and Welsh government, as well as a fall in membership and sponsorship income.
Overall, Glamorgan's investment of just over £3m on cricket activities remains 13th among the 18 first-class counties.
Cherry's report also paid tribute to predecessor Hugh Morris, who retired at the end of 2023 after 10 years in the role.
He said: "[Morris] has made a hugely significant contribution to cricket, not only in Glamorgan and Wales, but also during 17 years working at the ECB."
Glamorgan begin their competitive season with a Championship match away to Middlesex at Lord's on Friday 6 April.