Cricket club reports strong financial position

Derbyshire County Cricket Club has said it is in a strong financial position after recording its ninth surplus in 10 years.

For the year ending 31 December, the club recorded a pre-tax surplus of £174,000, which follows three years of positive financial results.

It means the club has achieved its key objective of becoming debt-free, a full two years ahead of its 2024 target.

Club chairman Ian Morgan OBE said: “The club exceeded its financial targets once again in 2022.

“We had budgeted for a small surplus of around £50,000 but were able to achieve three times this in a challenging year, during which the effects of the Covid-19 pandemic were still being felt, coupled with the rising costs all businesses are facing across the board.

“This positive result has ensured the club is in a strong position and now debt free, following four years of large surpluses.

“It is great credit to the tireless work of our executive team, off-field staff and the continued support of a number of key stakeholders, including our commercial partners and members, to whom we owe our gratitude.”

The club said it had started to see a return of revenues to more pre-pandemic levels and particularly in ticketing, had a large revenue surplus versus budget.

Chief executive Ryan Duckett said: “In 2020 and 2021 we very much had to lockdown the business to reduce costs; ticket income, commercial sponsorship and conference and events revenues were severely affected.

“Thankfully, we have been able to rebuild the business over the last 12 months, back to pre-pandemic levels and in certain areas beyond.

“Having achieved our objective of becoming debt free we now have strong foundations to build on the positive progress made by Mickey Arthur and the squad last year on the field and further invest in our facilities.”