CA Secures $50M Loan and Loses 200 Staff

May 6, 2020 by

Cricket Australia has received a loan of $50 million, believed to be the upfront payment of a much bigger advance of as much as $200 million which the body is seeking. This is to cover themselves if India turns out to be unable to tour later on this year.

And recently they stood over 200 members of staff down on 20% pay until the end of June, given the financial crisis they say has been brought down by the novel coronavirus COVID-19 pandemic.

Chief Executive of Cricket Australia Kevin Roberts feared that the sports body would run out of money by August if drastic cuts were not made, something which is supposedly no longer an issue in light of this $50 million loan. Roberts is still earning 80% of his salary, believed to be in the region of $1.2 million before the cuts. He will reportedly also be proposing a 25% reduction in grants from Cricket Australia to state associations sometime soon.

And, in related news, sports fans will soon be able to enjoy another first-rate documentary covering the ins and outs and ups and downs of a living sports legend. Like Netflix’s The Last Dance, rumour has it that the greatest-ever Test Wicket-Take that Australia has produced, Shane Warne, is filming something similar for Amazon.

Eddie McGuire, President of the Collingwood Football Club, has let it be known that Warne recently texted him, confirming that the series is in the works.

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