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Gloucestershire’s viability as a first-class county has been thrown into fresh doubt after the club reported a loss of £1.19m in their annual accounts published on Monday, more than double the £570,000 they made in 2022-23. .
In her report, Gloucestershire’s treasurer Rebecca Watkin insisted the club’s outlook for 2024 and 2025 was more positive, but blamed the current situation on the cost of living crisis, which has increased the club’s day-to-day running costs. An ODI between England and Ireland in September was washed out, normally a major source of revenue, given the club’s non-Test and hundred-hosting status.
“This has been a financially challenging year for a number of reasons, and there is no doubt that reporting a second consecutive fiscal deficit is disappointing,” Watkin wrote. “Gloucestershire have experienced a turbulent two years on and off the field but despite that, we are committed to achieving success on the field with competitive, competitive cricket and ensuring everything we can do to return improved financial results for years to come.”
That prospect may now be a step closer, after an independent audit by chartered accountants, Saffery LLP, revealed net liabilities of £5,019,000, Gloucestershire breached its banking covenants and “casts significant doubt on the club’s ability to continue as a going concern”.
A number of contributing factors were cited in the accounts, including a £67,000 increase in fuel bills and an extra £43,000 in interest rate payments over a four-month period. The annual £4m funding the club receives from the ECB, Watkin added in his report, is around £750,000 less in real terms than four years ago, while other ventures – including the Ministry of Sound dance party ground in July – “did not deliver future financial returns”.
In his own report, club chairman David Jones described the year as a “roller coaster”, compounding Gloucestershire’s rock-bottom finish in the 2023 County Championship with their off-field struggles. However, with the bidding process now underway for the Women’s World Cup in 2026, he insisted the club is well placed to ensure Bristol retains its status as a host city for such marquee events.
In anticipation of the ground move, Jones reiterated the club’s need to be “open-minded” despite the weight of history at the Neville Ground, allowing for the opportunity to move to a new, purpose-built and larger site. Gloucestershire “Thrives for Future Generations”
After further discussions at the club’s AGM on April 29, a formal update on relocation plans is expected in May or June.
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