Worcestershire record "heroic" profit in 2021

The club recorded a profit of £8,477 last year despite the challenges posed by Covid-19

Worcestershire have emerged from 2021 with a financial profit, a feat head of finance Sarah Gluyas described as "heroic" given the challenges cricket clubs faced last year.

The club’s total turnover for 2021 was £5,077,282 and showed a pre-taxation profit of £66,689. After tax and deductions, the Pears emerged with a profit of £8,477.

Though this figure shows a £13,158 loss compared to the previous 12-month period, it represents a sizeable achievement for the club given the additional costs created by Covid-19 and the absence of the government’s furlough grants, which provided £586,452 to the club’s finances in 2020.

It also means the club remains in a significantly stronger financial position than in 2019 when they reported losses of £81,000.

The bulk of Worcestershire’s income last year came from the ECB who awarded the club £3,849,616 – up nearly £450,000 on 2020.

^{Social distancing requirements increased the cost of staging matches in 2021 [Harry Trump/Getty Images]}

The club also saw a 13 per cent increase in the number of members and received £298,431 in membership subscriptions, a figure which would have been higher had they not rewarded those who kept their memberships in 2020 with discounted fees in 2021.

Sponsor agreements brought in £222,001 while Worcestershire’s retail income from the club shop and café saw an 81 per cent growth to £76,797. Hospitality and catering made a welcome return, bringing in £431,010 – 40 per cent of pre-Covid levels, while the club made a further £41,772 from hosting concerts.

Crowd restrictions, including beginning the season behind closed doors, resulted in ticket sales bringing in just £95,502 – 22 per cent of the expected income for a pre-Covid season. Once fans returned, the social distancing requirements increased the cost of staging fixtures to £81,760, a rise of £4,135.

They did, however, receive £189,200 in compensation from the ECB to go towards the financial hit of reduced T20 Blast crowds.

Expenditure on cricket remains the club’s biggest outgoing cost, with £3,021,993 spent on away match travel, hotels, the club’s academy and more.

Worcestershire also repaid £218,751 in loans in 2021 but the club’s total debt increased by £73,351.

Club chairman, Fanos Hira, echoed Gluyas’ sentiments about the club’s finances, writing in the annual report: "In 2021, government assistance was reduced by £510k – reflecting bringing staff off furlough to deal with spectators returning – and costs increased further due to additional health and safety requirements associated with Covid-19.

"Despite all of this to achieve a small profit of £8,477, in my opinion, is an outstanding, or dare I say heroic, performance for Worcestershire."