The England and Wales Cricket Board expects to post a significant financial loss in 2027 despite hosting a home Ashes series against Australia, underlining the growing commercial dependence of English cricket on India’s tours and broadcast value. According to financial statements issued by the ECB on Tuesday, the governing body warned that the absence of a home men’s Test series against India in 2027 is expected to heavily impact revenues even with one of cricket’s biggest rivalries returning to England.
The ECB’s latest accounts also reflected a major financial uplift generated by India’s 2025 Test tour of England alongside investment linked to The Hundred franchise sales.
“Turnover in the year ended 31 January 2026 amounted to £408.9 million, an increase of £89.4 million compared to the prior year.”
The governing body reported a £12.6 million (approx. US$ 17 million) profit on ordinary activities during the financial year while overall turnover increased by £89.4 million (approx. US$120 million) year-on-year. The ECB also confirmed ring-fenced profits of £522.3 million (approx. US$700 million) generated through the sale of stakes in the eight Hundred franchises, several of which were acquired by ownership groups linked to the Indian Premier League.
Cash reserves also increased to £72.8 million (approx. US$98 million) as the ECB continued positioning the Hundred investment proceeds for long-term use across the English game.
India’s tours continue driving ECB revenues
The ECB directly linked the financial improvement to the commercial impact of India’s 2025 men’s Test tour of England, which ended in a 2-2 draw after all five Tests went the full 25 scheduled days.
“This is largely attributed to increased broadcast and ticketing revenues due to hosting an India men’s Test series in 2025.”
India’s significance within English cricket’s financial structure has continued growing through overseas broadcast agreements, ticket demand and commercial partnerships tied to bilateral series involving the men’s national side. England are also scheduled to host India again later in the 2026 season for five T20 internationals and three one-day internationals.
Despite the historical stature of the Ashes, the ECB’s latest projections suggest India’s touring value now exceeds Australia’s in direct commercial terms, particularly in relation to broadcast revenues and global audience reach.
ECB warns revenues remain cyclical
The ECB’s financial statements also stressed that revenues remain heavily influenced by the scheduling cycle of major international opponents.
“Attention should be drawn to the fact that the ECB’s revenues are inherently cyclical, reflecting the scheduling of high-value broadcast series by opposition, and while this profile is advantageous in the current year and in 2026, it is expected to result in a significant loss position in the 2027 season when the England men’s team does not host a series against India.”
The warning arrives despite England hosting a five-Test Ashes series in 2027, traditionally regarded as the country’s premier cricketing event and one of the sport’s oldest rivalries after England and Australia first met in Test cricket in 1877.
Separately, the ECB confirmed former England batter Ed Smith will join the board as a Non-Executive Director later this year after completing his term as Chair of Marylebone Cricket Club
