Cricket Australia cuts revenue due to players’ salary cuts

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Melbourne: Australia’s cricket board has forecast a nearly 50% reduction in revenue that reduces player payouts as home games struggle to cope with the COVID-19 epidemic, local media said on Thursday Reported to
The Australian newspaper stated that Cricket Australia’s revenue pool was originally worth about $ 400 million ($ 276 million) in the 2020/21 season, but was dropped due to the impact of COVID-19 on the schedule.
Players are paid more than a quarter of the revenue according to the revenue-sharing agreement in their aggregated bargaining agreement with CA.
The players ‘association, the Australian Cricketers’ Association, confirmed to Reuters that they had received revised revenue estimates from CA and that there would be a board meeting to discuss them later on Thursday.
CA chief executive Kevin Roberts said the board was facing a revenue deficit of nearly $ 80 million last week due to COVID-19 and the high possibility that Australia would host the Twenty20 World Cup in October-November Will not be able to.
This ambiguous scenario has been avoided, however, with a lucrative four-test tour of India, with estimated earnings of $ 300 million in revenue, scheduled to move into the summer of home.
CA had more than $ 90 million in reserves at the end of March, but in April it saved nearly 80% of its workforce, saving some $ 3 million in costs, a move that drew widespread criticism.
Several state unions in Australia have also taken deep cuts of staff in recent weeks.
Roberts said last week that no part of the game would be called “untouched”.

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