New Zealand Cricket (NZC) is expected to record a loss of around NZ$10M (approx. US$5.9M) for its latest financial year, a sharp reversal from recent surpluses and substantially beyond the governing body’s original deficit forecast, according to a report by The Post.
The financial result, covering the year to July 31, is expected to include the impact of historic budgeting or accounting errors corrected during the period. Those adjustments contributed approximately NZ$4M (approx. US$2.36M) to the deficit, while NZC had initially budgeted for a loss of between NZ$1.5M (approx. US$885K) and NZ$2M (approx. US$1.18M).
Financial position swings from recent surpluses
The expected deficit represents a significant change from NZC’s recent financial performance. The organisation recorded a NZ$2.2M (approx. US$1.30M) surplus last year after posting a NZ$5.6M (approx. US$3.30M) surplus in 2024.
NZC Board Chair Diana Puketapu-Lyndon said at the organisation’s previous annual reporting period in November that reserves had reached a record NZ$37M (approx. US$21.83M).
Other factors associated with the latest deficit include foreign exchange rates, the fuel crisis and a limited BLACKCAPS home schedule, with no home internationals staged after Christmas following the West Indies tour.
An NZC spokesperson told The Post that the governing body was “working through a revised FY26 provisional financial result, and would be in a position to share an update publicly on Thursday”.
Weenink departure carries seven-figure cost
The financial year also includes significant expenditure beyond the budgeting corrections, including legal costs and consultancy work. Former Chief Executive Officer Scott Weenink, who left NZC in December, is understood to have received a payout exceeding NZ$1M (approx. US$590K).
His exit followed disagreement involving NZC, its six major associations and the New Zealand Cricket Players’ Association (NZCPA) over the future direction of the domestic game and proposals for a privately owned T20 competition, NZ20.
Staff sentiment following the leadership change was strongly negative. An internal NZC survey conducted in January found that 82% of its 76 respondents viewed Weenink’s resignation negatively, with a summary of the findings, as reported by the New Zealand Herald, indicating widespread concern among staff about the board’s handling of his departure and a belief among many respondents that external stakeholder pressure had contributed to the outcome.
Strategic disagreement preceded leadership change
As previously reported by cricexec, Weenink had publicly identified differences with member associations and the NZCPA over NZC’s future priorities, including the long-term direction of cricket and the role of T20 in New Zealand.
Weenink said in his resignation statement: “It has become clear that I hold a different view from several member associations, and the NZCPA, on the future priorities for NZC.”
NZC ultimately backed the proposed NZ20 competition after Deloitte independently reviewed four options, with the competition’s launch subsequently pushed back until the 2027-28 season.
The period of leadership upheaval also included former New Zealand international Dion Nash leaving the NZC board in March after saying he could no longer align with the organisation’s future direction or his position within it.
India tour offers major revenue opportunity
NZC’s next financial year will include a substantially larger home programme, with India scheduled to begin a 12-match tour against the BLACKCAPS on October 21.
India tours generate revenue for host boards across broadcasting, commercial activity and ticket sales, giving NZC a major event on its 2026-27 calendar following the limited home international schedule of the previous summer.
The governing body is due to provide its public update on the revised FY26 provisional financial result on Thursday, when Chief Executive Officer Geoff Allott, who was appointed in April, is expected to address the organisation’s latest financial position.
