Some of the leading British county cricket clubs are planning an Indian IPL like league to tide over the dire financial crisis. County clubs like Yorkshire and Durham are in debts of millions of pounds. One option they are planning are a new league in the Twenty20 format. First they have to get the approval of the England and Wales Cricket Board (ECB) and then they can decide on other formalities.
Headingley cricket ground, the home of Yorkshire, was the venue for England's epic Ashes victory over Australia in the third test in 1981. But the club is struggling with more than £22 million of debt, which has been restructured to reduce interest payments. Earlier this year Geoffrey Boycott, the former Yorkshire and England batsman warned that the debt would kill the club. Other clubs are also facing hefty interest payments on sizeable debts. Durham has £6 million and the latest annual report for Lancashire for the year ending December 31, 2014 records an operating profit of £2 million, but net debt of more than £13m.
The proposal under consideration involve nine of the big clubs forming a new league. The other clubs would be Hampshire, Glamorgan, Warwickshire, Nottinghamshire, Middlesex and Surrey. Many county clubs rue that the England team has enjoyed financial success with lucrative television deal with Sky, but that they are struggling to repay debts.
Rod Bransgrove, chairman of Hampshire, who has accused the ECB of failing to pay adequately for developing England players, is convinced a new Twenty20 league could match the success of the Indian Premier League. He said that they would establish some form of broadcasting and audience-friendly English Twenty20 cricket that will really stimulate maximum interest. He said the four-day county cricket was no longer commercially viable and which does not fit with modern living.
Some of the biggest clubs are due to meet soon to discuss ways to boost the game's finances, including the option of new league. Bransgrove said that there was talk of a cricket league, but said the possible structure had not been examined. Steve Denison, chairman of Yorkshire, said one problem was that county clubs submitted financial bids to the ECB to boost test matches.
The financial risks associated with hosting test matches were highlighted by Durham's experience in May when the game between England and Sri Lanka was truncated by rain and an easy England victory. The result meant gate receipts barely covered £ 4953,000 that the county had paid the ECB for the right to stage the match. Durham last week held a meeting to discuss its finances with Durham county council, which owns its ground and Colin Graves, the ECB chairman. It is understood that the ECB is ready to provide a £1.5m loan to Durham. The ECB declined to comment on any discussions about a new league.
