Total income reached £4.9m.
Leicestershire County Cricket Club has announced this morning a record-breaking year for profit and income.
The club posted a net profit of £483k for the financial year ended September 30, 2021 and a positive earnings before interest, taxes, depreciation, and amortisation (EBITDA) of £780k (2020: £149k).
Leicestershire CCC Chief Executive Sean Jarvis said: “We are delighted with the financial result in what was another challenging year of the pandemic but realise there is still hard work ahead, which we are relishing.
“We now have a sound financial platform from which to move the club forward both on and off the field of play and look forward to the new season with eager anticipation.”
Following the safe return of crowds, LCCC’s total income reached £4.9m while expenditure was lower than the previous full cricket season of 2019.
LCCC’s commercial revenue streams increased overall by 76% in 2021 to £621k (2020: £353k) and the club also successfully hosted two concert events and a Fireworks night.
During the year LCCC announced a number of key partnerships including a new Ground Naming Rights partnership with Uptonsteel, who also continued to sponsor the front of the team’s three playing shirts.
LCCC repaid debt of £100k during the year, and debt as a percentage of income reduced from 80% in 2020 to 48% in 2021. The club also maintained a healthy bank account balance and position throughout the year.
The net assets of LCCC are £2.87m at the balance sheet date. LCCC’s net current assets year end position of £133k is a considerable improvement on the net current liabilities of £230k reported 12 months earlier.
As well as recording a strong financial performance, the LCCC Foundation, the charity arm of the club, was also relaunched as part of the club’s new strategy to focus on strengthening connections and engagements with the local community.
There are four beneficiaries of all monies raised through a variety of fundraising initiatives and activities. The charities they've gifted money to are Alex’s Wish, Healing Little Hearts, the LCCC Academy and grassroots cricket in the Leicestershire area to support the next generation of young cricketers.
LCCC’s Women’s and Girls teams went from strength to strength in a positive season across all age groups, and there were a number of community initiatives that were carried out across the county.