The coronavirus pandemic has really hard on the economic state of the world. No sporting events across the globe, several sports organisation are feeling the pressure as well. Cricket Australia (CA) is one such sports board which is under tremendous pressure with funds during this global pandemic. In fact, the board has already laid off 80% of its staff to cope with the financial crisis amidst the global pandemic.
The situation has gotten so worse, that reports have emerged which suggest that the Australian government will make travel exemptions for India’s tour of Australia later this year. The move by the Australian government will help the cricket board from saving itself 300 million Australian dollars. With the current financial state of the board, the India and Australia four-match Test series would act as a relief.
CA could lose AUD 50 million if Australia-India series becomes TV-only event
The Australian government has closed its borders until September 30 in the wake of the COVID-19 pandemic. There have been also updates which suggest that the ban on travel could be extended. However, the Indian cricket team could also get a pass from the Australian government. The Border Gavaskar trophy which is scheduled in December and January will help CA to get its financial status in slight check.
Cricket Australia had estimated revenue of AUD 500 million from the financial cycle, which primarily consisted of broadcasting rights. If the matches are played behind the doors, then the board could be looking at a net loss of AUD 50 million. In this situation, the matches will become a TV-only event. However, if the entire schedule tour is cancelled then the consequences will be huge.
Recently, the Prime Minister of Australia, Scott Morrison said that the government has been trying to figure ways to resume all kinds of sporting activities. The country is also supposed to host the ICC men’s T20 World Cup in October and November. With the current state of affairs, that seems slightly unlikely.
“What is a safe way to be able to do that, and to get as much consistency as we possibly can across all the states and territories,” Morrison was quoted by NDTV. “That was strongly supported today by all the states and territories, having something along those lines they would find very helpful.”
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