Leicestershire reveal heavy loss
Leicestershire have announced a loss of £254,085 for the year ending September 30 2012.
A number of factors prevented the club from matching their financial performance in the previous year, which saw a profit of 294,022 recorded.
Chief executive Mike Siddall said: “The club always knew that the superb performance of 2011 would not be repeated, but we are, nevertheless, disappointed to record such a large loss.
“Last year there were no exceptional receipts from the ECB in respect of the India tour in 2011. This reduced ECB income by £184,098 and there was no repeat of the £95,000 received for the success in the FLt20 competition or the £30,000 for participation in the Champions League.
“Donations to the club were also £170,000 down following the outstanding year in 2011. The main club sponsor did not renew for 2012 and with the worsening economic climate during the year and the worst summer weather for over 50 years almost all areas of income fell short of budget.
“However, it is pleasing to note that expenditure was contained within the figures budgeted.”
Despite expressing disappointment at Leicestershire’s 2012 figures, Siddall retains optimism for the year ahead.
“We have exciting ground development plans including the building of a Community Sports Arena at Grace Road with our partners, Leicester Riders and Leicester College. These plans will aid the financial sustainability of the club,” he added.
“The club has started the 2013 financial year well and has a new club sponsor - Global Payments. We are currently performing to budget although it is too early to tell whether this will lead to a profit being recorded.
“We are all hoping that the summer of 2013 is considerably better than the one we have just suffered.”