CA reflects on financial year marked by growth and hard choices
Cricket Australia (CA) has reported a net deficit of A$11.3 million (approx. US$7.5 million) for the financial year ending June 30, 2025 — a figure long anticipated by the organisation, despite record attendance and revenue growth. The results were presented during CA’s Annual General Meeting (AGM) on Thursday in Melbourne, where senior leaders acknowledged both the sport’s growing popularity and the difficult financial decisions made to sustain its future.
According to CA’s official report, the organisation’s total revenue grew by A$49.2 million (approx. US$32.5 million) to A$453.7 million (approx. US$299.4 million), driven largely by a successful Border-Gavaskar Trophy series against India and a new domestic media deal. However, expenses also climbed significantly — by A$24.1 million (approx. US$15.9 million) — including expanded touring costs and marketing.
In addition to topline revenue growth, CA reported an operating surplus of A$109.6 million (approx. US$72.3 million), representing an improvement of A$21.4 million (approx. US$14.1 million) over the previous year. This reflects the underlying strength of the organisation’s commercial performance before member distributions and strategic reinvestments.
Despite the overall deficit, CA Chair Mike Baird emphasised the positives in an official statement:
“We are pleased to announce a strong year for cricket in which the large and increasing interest in attendance, viewership and participation resulted in strong revenue growth.”
He credited record crowd numbers for marquee events like the Border-Gavaskar Trophy and Women’s Ashes:
“Cricket dominated the national conversation across the summer through the Border-Gavaskar Trophy Series and the Women’s Ashes and the proceeds from record crowds contributed to a significant improvement in financial position forecast last year,” Baird added.
Despite the financial upside, Baird acknowledged that Australian cricket is operating in an increasingly complex environment. Rising operational costs and global competition, he said, require a long-term strategic response.
“At the same time, we have recognised the increasing costs of staging cricket and the ever-changing global cricket landscape, and the organisation is responding to these challenges to ensure the game’s long-term financial health,” Baird stated.
Baird also emphasised Australia’s influence at the international level, noting the importance of preserving the sport’s heritage while helping shape its global direction.
“Importantly, Australian Cricket retains a strong and significant voice on the global stage and we continue to work at ICC level to ensure the future health of the game while its heritage is respected and protected,” he continued.
Greenberg warns of looming generational shift and talent drain
While financial metrics were a focus, CA CEO Todd Greenberg used the occasion to deliver a broader warning about the pressures facing the sport, especially in retaining Australia’s top male players amid the global rise of franchise leagues.
“It’s a big part of our decisions,” Greenberg told reporters on Thursday.
“There’s no secret that every sports league in the world has one significant thing in common, they have the best players playing in those leagues. And so the moment we take for granted that our Australian players will play in our leagues or play for their teams is at our peril.”
He argued that preserving Australia’s playing identity requires strategic vision, not complacency.
“We can’t stand still. We’ve got to keep an eye on what’s happening. Of course, we want to protect everything that’s sacrosanct about what’s been great about Australian cricket over generations, but we’ve got to have an eye to the future.”
Describing the scale of reform needed, he added,
“And we’re not talking about in six months or 12 months. We’re talking about long-term generational change, and it’s incumbent on us as leaders of the sport to make sure we explore all of those things, and that will get uncomfortable for people, and it will challenge people.”
This call for reform reflects CA’s growing awareness that traditional models of cricket governance may no longer suffice. With the sport’s economics shifting rapidly, Greenberg’s remarks suggest that uncomfortable trade-offs may become a regular part of strategic decision-making going forward.
Difficult spending decisions raise concerns from states
Much of CA’s spending was focused on performance and broadcast priorities, with member state distributions rising slightly to A$120.9 million (approx. US$79.8 million). However, CA also made several controversial cuts, including to Indoor Cricket national programs and internal staffing, which drew criticism from stakeholders.
Cricket Victoria Chair Ross Hepburn, speaking at the AGM, said: “For another year, CA is presenting a financial loss with a balance sheet showing member funds in deficit.”
He continued: “It is especially disappointing that since FY2019, Cricket Australia’s accounts have shown significant cumulative loss, excluding COVID-related impacts and World Cup revenue.”
Hepburn also raised concerns over the prospect of private ownership in the Big Bash League, urging CA to proceed with caution.
“We believe that all other options need to be diligently canvassed before resorting to selling off member assets.”
This warning from Victoria’s leadership underscores the sensitive nature of proposed financial reforms. The idea of introducing private investment into the Big Bash League, while potentially lucrative, is seen by some as a slippery slope that could risk the integrity of state-controlled cricket infrastructure.
On the rationale behind CA’s prioritisation, Greenberg said,
“Of course, we would love to fund everyone and everything, but at the end of the day, we’ve got to make sure we put our money in the right places at the right times.”
He added, “We’ll always be looking to help community groups or indoor cricket and whatever other types of formats we can but at the end of the day, we can’t give out what we don’t have.”
Future outlook tied to marquee fixtures and commercial growth
Despite the deficit, CA projects a sharp turnaround in FY26, thanks to the upcoming Ashes and India’s white-ball tour. CFO Sarah Pragnell said,
“The Ashes and India white-ball content in FY26 is expected to deliver significant profit to CA and this will enable CA to rebuild its net assets and cash reserves for the next cycle.”
As of June 30, CA held A$22.1 million (approx. US$14.6 million) in cash and deposits, with a further A$70 million (approx. US$46.2 million) in funding available through a renewed five-year secured banking facility. These resources, officials said, position the organisation to weather short-term volatility while capitalising on long-term growth opportunities.
Looking ahead, Baird added:
“Next year we are going to have a record year in cricket,” and, “You’re going to see the most attendance, the most viewership, the most sponsorship. It is undoubtedly going to be the biggest year that cricket has ever seen.”
Baird added that the upcoming calendar, highlighted by iconic bilateral series, is set to deliver both commercial success and fan engagement on an unprecedented scale.
“We have now entered what will be an exciting and highly profitable season for the game including the Ashes and the Women’s multiformat series against India and we are extremely excited about what lies ahead,” Baird continued.
A strong foundation, but challenges persist
In CA’s official press release, Greenberg underlined that strategic partnerships and operational growth are laying a solid foundation:
“We are pleased to have exceeded financial forecasts for this part of the four-year cycle while delivering more cricket than ever to Australians across the international and domestic seasons.”
He explained: “The significant growth in revenue and our operating surplus and the smaller than anticipated net deficit at this part of the cycle reflects the enormous popularity of Australia’s national sport, the outstanding performances of our world class teams and the efforts undertaken to optimise our financial position.”
Greenberg credited broadcast and sponsorship deals for sustaining that growth:
“Our long-term agreements including our broadcast partnership with Foxtel and Seven West Media and the MOU with the Australian Cricketers’ Association continue to provide a strong foundation for the game.”
“At the same time, we have vigorously pursued the commercial opportunities created by the cricket’s vast audience reach including our new partnership with Westpac.”
Baird echoed that sentiment, acknowledging the broad coalition of partners who have contributed to the game’s national reach and relevance.
“I’m grateful for the strong support of our State and Territory Associations as well as our broadcast, commercial, government, community and venue partners who have shared our vision of putting cricket at the centre of every Australian community,” Baird added.
He also highlighted the collaborative efforts of state associations:
“We are also grateful for the strong collaboration with our State and Territory Associations who have helped ensure more people than ever are playing and watching cricket, and that Australia continues to produce an array of world class players.”
BBL investment and international ambitions
Greenberg pointed to the Big Bash League’s resurgence as a success story amid global T20 competition: “The investment to enhance the Big Bash Leagues has been vindicated with increased viewing and attendances and we working to ensure the BBL and WBBL remain at the forefront of T20 franchise cricket in the face of strong global competition.”
He closed with a note of confidence: “Having entered an enormously exciting international season, Australian Cricket is well placed to capitalise on the opportunities created and also take on the challenges we face with considerable confidence.”
Retaining players a growing priority
Beyond numbers, CA’s biggest concern remains player retention — particularly the risk of losing talent to global leagues full-time.
“It’s the challenge that sits right in front of us,” Greenberg told reporters.
“We’ve got to continue to make opportunities for them to be inside the Australian team environment…and I can tell you that they all want to be there. They all want to win competitions. They all want to compete for the Ashes. They want to win a World Cup.”
Greenberg’s optimism about player commitment comes at a time when lucrative global leagues continue to test national loyalties. While top players remain engaged, CA knows the financial incentives elsewhere may prove hard to resist without sustained investment and creative scheduling.
But he warned that legacy cannot be assumed:
“But we can’t take that for granted. We can’t sit there and expect that the next generation will do exactly the same thing. It’s on us to work really hard to make those environments and to pay them appropriately, to make sure that those things thrive in the future, and us sitting around just hoping that will happen will fail spectacularly, which is why the work that we’re doing now and the conversations we’re having are important long term,” Greenberg added.
Ultimately, Cricket Australia’s leadership is navigating a delicate transition—balancing immediate financial pressures with the long-term ambition of keeping the game sustainable, competitive, and deeply connected to its national roots. The coming seasons may test that balance, but the groundwork being laid now signals a sport in motion, not in retreat.
