Glamorgan cricket: 'Some way to go' on finances, warns Hugh Morris

By Nick WebbBBC Wales Sport
Swalec Stadium
Glamorgan's Swalec Stadium hosted an Ashest Test in 2015 and 2009

Glamorgan chief executive Hugh Morris will tell the club's annual general meeting (AGM) the county has "some way to go" in improving its finances.

His report comes after a loss of £307,778 for 2016.

Morris describes the results as "satisfactory", with a profit forecast for 2017.

He will also outline hopes of staging city-based T20 cricket from 2020 to Welsh Assembly members on Thursday, 30 March, hours before the AGM.

The 2016 loss rises to £898,298 when depreciation of assets is taken into account.

Glamorgan will stage five days of international cricket in 2017, compared to just two in 2016, leading to the more optimistic financial forecast.

"The club has come a long way since the financial crisis of 2011... however, it has some way to go in improving its position further and providing the investment in the team, stadium and related infrastructure that is required," writes Morris in his report.

"It remains crucial that the club improves its underlying income through memberships, gate receipts and sponsorship which are still not at satisfactory levels to drive investment.

"Overall, the results for the year have been satisfactory, despite posting a loss. It was planned, and whilst finances remain tight, we look forward to a financially successful 2017."

Glamorgan benefitted from a multi-million pound debt write-off from Cardiff City Council, Allied Irish Bank and former chairman Paul Russell in 2015.

The county is hoping its SSE Swalec Stadium in Cardiff will be one of the host venues for the eight-team, city-based T20 competition which the England and Wales Cricket Board plans to launch in 2020.

Counties would stand to benefit by £1.3m a year, but would not retain their identities in the new centrally-controlled tournament.

Morris and chairman Barry O'Brien will try to gather political support for the Welsh cause at the Senedd, before addressing members at the AGM.

Off the field, the club's turnover on conference and dining facilities went up by 25% to £1.35m.

But a venture into concert staging with the Kaiser Chiefs and Simply Red failed to yield a profit.