Figures show that in the period to the financial year end of September 2010, the club recorded a planned operating loss of £938K. The figure is in line with DCCC’s current five year development plan, which the club predicts will see further managed operating losses in 2011 and 2012, before a return to profit in 2013.
DCCC’s annual turnover was £5.5million and despite challenging economic conditions, the club saw an improvement in its core commercial revenues along with a reduction in costs. Specifically, key areas of growth in the period include a 17% rise of £240,000 in corporate and sponsorship revenues, along with an encouraging increase in the sale of annual memberships.
Plans are now in place to construct a 149 bedroom hotel at the Emirates Durham ICG site as part of a wider development of its conferencing, leisure and cricketing facilities. DCCC is on target to complete these initiatives by 2013 and realise its goal to move away from a revenue model dependent on international cricket.
David Harker, chief executive of Durham County Cricket Club, said: “These results are in line with our long term financial planning and compare favourably to other Test Match venues that do not host Test cricket on an annual basis.
“The Emirates Durham ICG is now an established and highly popular venue for international cricket and our ambition is to ensure that Test Match cricket remains a permanent fixture in the region’s sporting calendar.
“However it is essential that Durham County Cricket Club is not solely reliant on international cricket revenues alone and the exciting developments which are planned will see the club move away from a dependency on international cricket, placing it on a strong foundation for the future.
“Crucially this strategy will further enhance the standing of the Emirates Durham ICG as a sports, conferencing and leisure venue of national and international importance, which will strengthen our position not only as business, but as a Test Match venue as well.
“Although self sufficiency attained through the development of the venue is key to long term success, international cricket will of course remain an important element of our operation. The Emirates Durham ICG is due to stage Test cricket in 2013 and 2016 and is currently working with the ECB to secure a further package of international matches, which continue to sell out at Durham.”
Clive W Leach CBE, chairman of Durham County Cricket Club, comments: “I’m delighted that Durham continues to make important progress both on and off the field of play. The club’s latest results illustrate how our ambitious plans are well on track and I am confident that the future of international cricket in the region is secure. Since becoming an international ground, the Emirates Durham ICG has consistently proven to be a sell out venue. This is demonstrated by the unprecedented advance sell out of the India One Day International in September and is a testament to the passion the North East holds for cricket.
“In the period from September 2010 to now, Durham continues to demonstrate vigorous progress with some fantastic results on and off the pitch. Of course the performance of the team remains a key measure of success for Durham CCC and the squad is well placed for an exciting climax to the 2011 season. Having recently moved to the top of the league in the County Championship, everyone associated with Durham should feel rightly proud of our strong position in the game as team and as a growing business.”