Cricket Australia (CA) has withdrawn a gloomy revenue forecast which led to the departure of chief executive Kevin Roberts last month and threatened an ugly standoff with the players’ union.
The “reset” was “welcome and sensible” and agreed to drop its formal dispute of the projections, The Australian Cricketers Association (ACA), which negotiated a revenue-share pay deal for the players in 2017, said
The union said it a statement that “Under this reset, Cricket Austrailia has agreed to withdraw its June 2020 notices containing its revised revenue forecast, and in its place, roll over its ‘pre-coronavirus’ April 2019 forecast,”
Despite the shutdown of sport having occurred at the end of the cricket season and Australia having been relatively successful in containing the COVID-19 pandemic.
Cricket Austrailia in early June forecast a drop in revenue of nearly 50% for the 2020-2021 season.
They had “agreed a way forward on Australian cricket’s response to coronavirus” with the union, Cricket Australia said in a statement
The governing body said, “The parties have agreed to postpone the Australian Cricket Revenue projection until such time they are better able to assess the financial impact of the pandemic and calculate a clear projection for the year ahead,”
“Calculating revenue projections 12 months ahead during a once-in-a-century pandemic has not been without its challenges, but we believe we have arrived at a position that provides all parties with greater certainty” when the financial impact of the virus pandemic was clearer it would reassess the revenue forecast, CA said
The ACA said they were “free” to do so “should there be a material revenue event affecting cricket”.
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