WA Cricket has dismissed suggestions that debt linked to the redevelopment of the WACA Ground is a major factor behind its willingness to explore private investment in the Perth Scorchers, with Chief Executive Officer John Stephenson insisting the organisation is pursuing a broader long-term commercial strategy.
Speaking in an interview with The West Australian, Stephenson said WA Cricket’s financial position remains strong and that the governing body expects to become less reliant on Cricket Australia funding as new commercial revenue streams begin to mature. His comments come at a pivotal time for Australian cricket, with discussions over private investment in Big Bash League clubs continuing across the game.
The comments also provide fresh insight into WA Cricket’s strategic thinking as the Perth Scorchers remain among the clubs that could eventually seek external investment if Cricket Australia’s proposed ownership model progresses.
WA Cricket says debt is not behind Perth Scorchers investment plans
The completion of the WACA Ground redevelopment has significantly reshaped WA Cricket’s commercial outlook.
The A$189 million redevelopment (approx. US$132.3 million) transformed the northern side of the venue, adding a public aquatic centre, gymnasium, indoor high-performance centre, function facilities, administrative offices and a museum alongside the historic cricket ground. WA Cricket contributed more than A$17 million (approx. US$11.9 million) towards the project, with funding also provided by the Western Australian Government, Australian Government, City of Perth, Cricket Australia and other supporters.
According to its 2024-25 financial statements, WA Cricket refinanced its borrowings into a A$10 million unsecured bank facility (approx. US$7 million). The organisation also reported annual revenue of just over A$46 million (approx. US$32.2 million) and current assets of A$28 million (approx. US$19.6 million).
Stephenson said those borrowings are being carefully managed and are not driving discussions around the future ownership of the Perth Scorchers.
“We do carry a bit of debt, but we are planning really well in terms of how we have set up that debt facility. We’re managing our finances in the background very carefully,” Stephenson said.
New revenue streams expected to reduce reliance on Cricket Australia
Rather than depending heavily on annual Cricket Australia distributions, WA Cricket believes the redevelopment will allow the organisation to generate a growing proportion of its own income through commercial operations.
Stephenson said the changing revenue mix will strengthen WA Cricket’s financial independence over the coming years.
“We’re going to become less reliant on Cricket Australia in the next few years because we’ve got other revenue streams coming through. We are in a much better position than other state associations,” Stephenson noted.
“We’re at 52 per cent (of revenue from CA distributions) currently. We’re looking, next year, to flip it, so that we are 48 per cent reliant on Cricket Australia and 52 per cent will be generated from us. That equation will gradually get better for us as well,” he added.
WACA redevelopment forms the centrepiece of commercial strategy
The redeveloped WACA precinct is expected to play a major role in that strategy, with multiple year-round commercial assets complementing its traditional role as one of Australian cricket’s most significant venues.
Stephenson said WA Cricket continues to focus on expanding its commercial base despite its improving financial position.
“We’re never complacent. We’re always looking to diversify our income, and we’ve got a great opportunity here with the aquatics, the gym, the cafe, the high-performance centre, the museum and the Wally Edwards Function Centre and they are starting to gain momentum already,” he stated.
Stephenson acknowledged that delivering the redevelopment was not without its challenges, but said the completed project provides WA Cricket with stronger long-term financial foundations while preserving the organisation’s primary purpose.
Cricket remains at the heart of WA Cricket’s plans
Although the redevelopment has introduced a broader range of community and commercial facilities, Stephenson said cricket remains the organisation’s core focus.
“The State Government have put in a lot of money to make the WACA a outward-facing community asset, not just a cricket ground, but it’s cricket is still at the heart of this organisation,” he said.
He said the redeveloped venue will continue to serve as a key base for developing elite players and hosting domestic and women’s cricket, while income generated through its expanded commercial operations will be reinvested back into growing the game across Western Australia.
How the BBL privatisation process reached this point
As previously reported by cricexec, Cricket Australia and the six state associations reached an in-principle agreement in June to pursue a self-determination model for private investment in the Big Bash League. Under the proposed framework, each state would decide independently whether and when to seek outside investment in its own BBL club, although the model remains subject to agreement on governance reforms, player arrangements with the Australian Cricketers’ Association, and funding and distribution issues before any transactions can proceed.
As reported previously by cricexec, that apparent breakthrough was followed by renewed disagreement after Western Australia, Tasmania and Victoria opposed calls from New South Wales and Queensland to pause the process while those outstanding issues were resolved. The dispute highlighted continuing differences over how Project Nazare should progress, with the three states supporting ongoing preparatory work alongside negotiations.
What comes next
While no decision has been made on whether the Perth Scorchers will ultimately secure private investment, Stephenson’s comments indicate WA Cricket believes it is entering the next phase of the conversation from a position of financial strength rather than financial necessity.
If the national privatisation framework is finalised, WA Cricket will have the option of assessing external investment opportunities against an increasingly diversified business model—one built on reducing dependence on central distributions while creating new revenue streams that can be reinvested into the long-term growth of cricket in Western Australia.
