The stage has been set for another showdown between Cricket Australia and players as the organisation predicts a huge 50% drop in revenue for next season. The two parties recently met up but the dire predictions made by CA are not being accepted.
Players, who fought tooth and nail with CA back in 2017 to see a revenue-share model instituted, are reportedly perplexed by the estimate given that India’s visit alone is worth roughly AU$300 million. Before the novel coronavirus COVID-19 pandemic and the lockdown efforts to keep it contained, CA predicted income of over AU$400 million but now thinks that the final result will be about half that. This is with India playing three Twenty20s, four Tests, and three One Day Internationals.
And a 50% reduction in earnings sees almost AU$60 million in player wages being slashed.
CA has additionally predicted reduced profits for next season as well, in a year that will see England tour for the Ashes and 2020’s T20 World Cup belatedly taking place.
Any income received that exceeds the governing body’s predictions and estimates goes into the organisation until the pay deal comes to an end in 2022. Then it will officially be passed on to players.
Reliable sources indicate that CA hopes to avoid running into a deficit by June 2021 by securing a line of credit worth AU$100 million, saving over AU$60 million by cutting down on staff, and reducing state grants by almost AU$30 million.
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