GEORGE DOBELL: With the club hosting games in both the men's and women's series, 138,000 people saw Ashes games at Edgbaston across the 2023 summer, as turnover climbed to £32.8 million
High attendances for Ashes matches helped Warwickshire increase their turnover by 25 per cent in 2023.
With the club hosting games in both the men's and women's series, 138,000 people saw Ashes games at Edgbaston across the summer. But despite turnover rising to £32.8m - that's £6.5m higher than the previous year - an increase in costs saw earnings before interest, tax, depreciation and amortisation fall by £0.4m to £6.1m. The club's retained profit of £1.2m was also down from £2m in the previous year.
Those costs were, in part, driven by higher energy bills and staging fees but also by a transitional 15-month trading period (from October 1, 2022 to December 31, 2023).
With another decent selection of major matches in the 2024 season - England's men play West Indies in a Test at Edgbaston while the men and women play their Pakistan counterparts in limited-overs cricket - Warwickshire are confident of another decent year ahead.
Group debt decreased by £3.6m to £21.1m after £2m was repaid to Birmingham City Council and an advance ticket sales loan was repaid to Macquarie.
Stuart Cain, the club's chief executive, suggested the club's financial success had enabled them to invest in the team and make progress on their inclusion aims.
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Edgbaston hosted the first T20I during the women's Ashes (Dan Mullan/Getty Images)
"This solid financial foundation has allowed us to invest in the Warwickshire squad for 2024," Cain said. "We've made some fantastic signings, including England bowlers Richard Gleeson and George Garton, and the squad is now one of the most exciting I've seen here in my tenure.
"And we've also made excellent progress on our Equality, Diversity and Inclusion pledges which form our Edgbaston for Everyone plan. We want to make Edgbaston a hub for the local community, providing opportunities for people to celebrate the region's cultural diversity, as well as improve their employment opportunities.
"Last year we hosted our inaugural Vaisakhi Cricket Cup, staged celebrations for Christmas and Easter, organised the country's first LGBTQ+ cricket tournament, and brought together an all-women grounds staff to prepare an international wicket at Edgbaston."
The club also recently announced an outline lending agreement which will help them take the next step in their ground redevelopment. West Midlands Combined Authority agreed to a loan of up to £18m to help them build a four-star hotel in the area currently occupied by the Raglan and Family Stands. The aim, subject to planning consent, is to begin work in September 2025 with a view to the hotel and new stands being complete in time for the men's Ashes Test at the ground in 2027.
"The sales outlook for 2024 is strong," Craig Flindall, Warwickshire's chief operating officer, said. "Several days are already sold out, including the first three days of the Men's West Indies Test, the Men's T20I against Pakistan and Vitality Blast Finals Day, while over 10,000 tickets are sold for the Women's T20I versus Pakistan. In terms of ticketing, we are now cricket's fastest-selling venue outside of London.
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Warwickshire have big plans for Edgbaston (Alex Davidson/Getty Images)
"However, lower ticket prices for our major match days are expected to mean profits decline in 2024 in line with our long-term financial plan.
"We've also seen strong performance in the catering & events side of the business. Last year saw a total of 680 events staged here with delegate numbers up by more than 13,000. Last year saw our exhibition figures return to where they were pre-Covid.
"And the club has made good progress on Edgbaston Stadium's masterplan with the new entrance Plaza and Skyline West hospitality area completed on budget and on schedule.
"The next phase of development works includes the rebuilding of the Raglan and Priory stands with an integrated hotel. Funding for part of the project was recently secured in principle from the West Midlands Combined Authority and we'll be briefing members and stakeholders throughout the year."
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