Northamptonshire County Cricket Club has announced their results for the financial year ending 30th September 2017. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) showed a profit of £730,881 compared to £230,840 in 2016. The club, based at Wantage Road, repaid a £1m loan to Northamptonshire Country Council within the playing season.
The Club launched a share issue in 2017, raising £1.2m, changing its status from a members club, and raising capital to reduce debt and invest in the ground facilities. The club during the closed season has invested in a brand new outfield, improving the playing surface at Wantage Road.
Management closely monitor a number of important metrics, including ECB income (increased by 11.3%), sponsorship, conference and event income (increased by 24.9%), gate receipts (reduced by 24.3%), season ticket sales (increased by 11.5%), and player costs (reduced by 5%).
At the year end, apart from the loan from NCCC Holdings Limited (during the year the club successfully changed from a member’s club to one owned by NCCC Holdings Limited), the club had a loan from the ECB of £500,000 and one from Northamptonshire County Council of £923,000. The loan from the ECB will be repaid in January 2018 and Northamptonshire County Council will be repaid in 2019-20; this will leave the club debt free, apart from the NCCC Holdings loan.
The results were better than forecasted by the Board of Directors, due in the main to increased commercial activity and sponsorship at the County Ground and a successful concert featuring Olly Murs. Like for like gate receipts were up, and the club maintained the same size playing squad, narrowly missing out on promotion in the Specsavers County Championship.
Ray Payne, Chief Executive commented
The support we have received from businesses, supporters and the community has been exceptional in 2017. The playing squad under the leadership of David Ripley performed excellently during the season, despite a number of setbacks due to injury in the season. We approach the new season with real optimism
Commenting on the financial results, Chairman Gavin Warren said
I am very proud that the hard work of the past three years is now fulfilling the Clubs ambition and vision. We are exactly where we forecast we would be at this point in our business plan. Northamptonshire County Cricket Club is now virtually debt free generating profit and competing strongly on the pitch. Huge congratulations should be given to Ray Payne CEO, Suzanne Fairey Commercial Director and David Ripley Head Cricket Coach for this huge turnaround. These results provide a platform for NCCC to strengthen their playing and financial future. The Board is looking forward to an exciting and successful 2018 season and I would like to thank stakeholders for their continued support.