The dreaded Coronavirus has wreaked havoc all over the world. While millions of people have lost their lives, on the other hand, it has had a major effect on sporting events also. International cricket boards like BCCI, Cricket Australia and England Cricket Board (ECB) have suffered major losses due to Covid-19. England and Wales Cricket Board (ECB) a loss of 16.1 million pounds in the financial year 2020-21. The loss has been transferred to the England board’s reserves.Also Read - Coronavirus Latest Symptoms: Fatigue And Headache Most Common Signs of Long Covid
“This has been a challenging year, but by being able to stage international cricket and by taking decisive action early in the pandemic, we have been able to support the network and avoid a far worse financial scenario,” said Scott Smith, chief financial officer at the ECB. Also Read - BCCI Announce Squad For Asia Cup 2022; Virat Kohli Returns
Last year, the ECB had made a profit of 6.5 million pounds. In 2016, ECB had declared that it had £ 70 million, but now it has reduced to just 2.2 million pounds. Smith, however, sounded hopeful for next year. Also Read - Amid Rise In Covid Cases, Centre Issues Guidelines, Asks 7 States to Follow Five-fold Strategy
“There remains considerable uncertainty over the year ahead, but we hope that delivering another full summer of cricket — and with crowds beginning to return from next week — we are able to protect the revenue we need to invest in growing our game,” he said
Board of Control for Cricket in India (BCCI), world’s richest board is also trapped in a major economic crisis. Recently, the the Indian Premier league (IPL) 2021 had to be suspended indefinitely after just 29 matches due to coronavirus cases in bio-bubbles across franchises. If the remaining IPL 14 matches get cancelled, then the BCCI could suffer a loss up to 2000 crores.
Edited By: Sunny Daud