Australian cricketers face wage cut after revenue shortfall 08/11/2010 |
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Cricket Australia (CA) is planning to cut players’ salaries after the organisation missed its revenue target by AUS$16m.
According to a report in the Herald Sun, CA’s general manager of finance and business services Kate Banozic has sent a letter to its 180 players informing them of the decision.
"Whilst this isn't great news to have to deliver to players, it is important to note we are currently in difficult financial times and cricket is not immune from these," she wrote.
Australian players are entitled to 26 per cent of the revenue, according to their agreement with CA, but with revenue being well short of projection, CA public affairs manager Peter Young said it would be a difficult summer.
"The gate hasn't been what we expected," he explained.
"You might recall last year we had West Indies and Pakistan, and the public didn't engage with those series as they have the imminent series.
"Currency exchange rates have had an effect, and the ICC World Cup dividend was lower than we projected. I believe the reason for that was the World Cup operating costs ended up greater than [the projections]."
Australian Cricketers Association president Paul Marsh hopes the situation will improve.
"We do a deal with Cricket Australia for however long," he added.
"At the time we do the deal, it's based on revenue estimate, and the nature of that means it's impossible to estimate it spot on. Historically, Cricket Australia has estimated revenue to be less than what they've actually ended up with. This time it's $16 million the other way.”
Young said CA was banking on the upcoming Ashes series followed by tours by India and South Africa to improve the finances.
"Long-term, 10-20 years, we're forecasting the [domestic] Big Bash League could bring as much revenue as international cricket," he continued.
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